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Cost of Living in Florida

Is it better to rent or buy in Florida? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$81,523
$1,774/mo

Median in area: $1,774

$386,022

Median in area: $386,022

$77,204

If you Rent

🔑
$1,941 /mo
Base Rent$1,774
Est. Utilities$167
% of Income28.6%
Pre-tax Residual$4,853

If you Buy

🏠
$2,658 /mo
P&I (6.831%)$2,020
Taxes & Ins$471
Est. Utilities$167
% of Income39.1%
Pre-tax Residual$4,136

Cost of Living FAQs

Is it cheaper to rent or buy in Florida?›

Based on median housing data, renting is currently more affordable on a monthly basis in Florida. The estimated all-in monthly cost for renting is $1,941, while owning a median-priced home with a 20% down payment is roughly $2,658 per month (a difference of $717).

How much do utilities cost in Florida?›

The average monthly utility cost (electricity and natural gas) for a typical home in Florida is approximately $167. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Florida?›

To comfortably afford the median rent and utilities in Florida without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $77,640 per year.