), 1 min. The absence of a state income tax may give the state of Florida an advantage over other states, but only for high income earners. The Cost of Living in Florida, the Bottom-line Moving to Florida if you’re well off financially with a high income. Florida cost of living is 102.8 A cost of living index above 100 means Florida, Florida is more expensive. It can be used to compare the affordability of one location versus another, such as between states. Our cost of living indices are based on a US average of 100. Red States vs. Blue States State & Local Tax Breakdown All effective tax rates shown below were calculated as a percentage of the mean third quintile U.S. income of $60,602 and based on the characteristics of the Median U.S. Household*. Cost of living 2. Home; Cost of Living; Cost of living is a measure of the people's purchasing power in a specific location. Housing in Tampa, Florida (United States) is 12% more expensive than in Detroit, Michigan (United States) Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area. Hawaii’s housing index is 318.6, where a two-bedroom costs about $1,895 per month and the median home value is about $660,000. Taxes 4. Natural disasters of boneless chicken breast, 0.5 l (16 oz) domestic beer in the supermarket, Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area, Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area, Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat, Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area, Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area, Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio, Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands), 1 summer dress in a high street store (zara, h&m or similar retailers), 1 pair of sport shoes (nike, adidas, or equivalent brands), Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new, Taxi trip on a business day, basic tariff, 8 km. Prices and comparisons for the whole range of expenses: food, housing, going out, etc. Meanwhile, the population of Florida is ~18.8 million people (8.9 million fewer people live in Michigan). - Median Home Cost is the biggest factor in the cost of living difference. The cost of living in Michigan is remarkably low. Full version Resident happiness 10. of boneless chicken breast, 0.5 l (16 oz) domestic beer in the supermarket, Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area, Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area, Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat, Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area, Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area, Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio, Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands), 1 summer dress in a high street store (zara, h&m or similar retailers), 1 pair of sport shoes (nike, adidas, or equivalent brands), Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new, Taxi trip on a business day, basic tariff, 8 km. Cost of living is a term that describes the amount of money necessary to maintain a certain level of living, inclusive of essential expenses such as accommodation, food, clothing, health care, and taxes. While it may not be as warm as other states in the top 10, Indiana still has a lot to offer retirees. Compare the Cost of Living in Florida against another US State. We aggregate prices users like you enter, creating a reliable and consistent data set of prices. Updated on Dec 2020. Economy 3. States with the Highest Cost of Living. For example, to keep the same standard of living that would require, Basic lunchtime menu (including a drink) in the business district, Combo meal in fast food restaurant (big mac meal or similar), 500 gr (1 lb.) - Overall, Orlando, Florida is 18.8% more expensive than Detroit, Michigan. Mobile version Michigan is ranked number 12 out of all states in overall healthcare access and affordability. (5 miles), Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands), Short visit to private doctor (15 minutes), Standard men's haircut in expat area of the city, Basic dinner out for two in neighborhood pub, 2 tickets to the theater (best available seats), Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert, 1 beer in neighbourhood pub (500ml or 1pt. of prepaid mobile tariff (no discounts or plans), 1 month of gym membership in business district, Basic lunchtime menu (including a drink) in the business district in, Monthly rent - 45 m2 furnished studio in expensive area in. Full version Healthcare costs make up a significant part of the cost of living.The ability to afford healthcare as well as the ability to access care are key indicators of how much you will be paying for this important resource if you move to another state. With 20.5% of residents in Florida retired, senior communities are abundant with comfortable homes and many activities. You would need around 5,725.10$ in Miami, FL to maintain the same standard of life that you can have with 4,500.00 $ in Detroit, MI (assuming you rent in both cities). Comparison Highlights. The sunshine state has no income tax, which drives down the cost of living, and many businesses offer senior discounts. $1,891. Florida Reports More Than 12K New COVID-19 Cases, 101 Deaths Florida officials are reporting 12,075 new cases of coronavirus raising the state’s total to nearly 1.3 million. 05-06-2009, 06:39 AM Similarly, according to a National Center for Assisted Living report, the median cost for assisted living in the United States is about $4,000 per month or $48,000 annually. © 2009-2021 Expatistan.com. of prepaid mobile tariff (no discounts or plans), 1 month of gym membership in business district, Basic lunchtime menu (including a drink) in the business district in, Monthly rent - 45 m2 furnished studio in expensive area in. Cost of Living Comparison Between United States and Bahamas . Cost of Living Indexes. It’s about 17% cheaper to live in Michigan than it is on average in the United States. Health care quality 5. Use this cost of living calculator to compare the cost of living between U.S. cities and determine if you will be able to maintain your current standard of living in another city Michigan is about 1.8 times bigger than Florida.. Florida is approximately 139,670 sq km, while Michigan is approximately 250,493 sq km, making Michigan 79% larger than Florida. When it comes to deciding which state to call home or to locate your small business, cost of living is a major factor to consider. See what you'll need to earn to keep your current standard of living wherever you choose to work and live. An amount below 100 means Florida is cheaper than the US average. - Median Home Cost is 356% more expensive in Orlando. Unfortunately, there is no official cost of living comparison between st… With the average annual costs of nursing home care being between $89,297 – $100,375 it appears that assisted living typically averages about half of the cost of assisted living options. Vero Beach, Florida’s cost of living is 2% lower than the national average. Cost of living in Michigan vs. Illinois. Prices and comparisons for the whole range of expenses: food, housing, going out, etc. Cost of Living. The average electricity rate is 13.19 cents per kilowatt hour (kWh).. - Overall, Grand Rapids, Michigan is 12.3% cheaper than Tampa, Florida. Cheap housing, low monthly housing costs, and a favorable cost of living push Indiana ahead of its neighbors. City in United States: Cost of Nursing Homes vs Assisted Living. Cost of living in Michigan (US) compared to Illinois (US). Education 7. - Median Home Cost is 24% cheaper in Grand Rapids. Full cost of living comparison of Orlando, Florida vs Grand Rapids. You’ll have access to excellent educational opportunities that carry this advantage, including Central Michigan University, the University of Michigan, and Michigan … Housing in Detroit, Michigan (United States) is 22% cheaper than in Miami, Florida (United States) Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area $1,757 Crime rates 6. The average price a residential customer in the United States pays for electricity is 13.31 cents per kWh.. What’s my current electric rate? The state with the highest cost of living index is Hawaii, whose index is 192.9. This assumes net earnings (after income tax). It’s no secret many people retire to Florida for the year-round warm weather, which helps lessen arthritis pain. This calculation uses our Cost of Living Plus Rent Index to compare cost of living. This calculation uses our Cost of … ), 1 min. Spending estimates were adjusted to the state level by multiplying each cost category by its corresponding cost of living index score in each state, sourced from the Missouri Economic Research and Information Center’s 2020 Q1 cost of living index data. According to Genworth Financial, the average cost of assisted living in 2018 was $4,000 per month. Comparison Highlights. This means that the cost of living in Hawaii is 92.9% higher than the U.S. average. These prices were last updated on January 01, 2021. Cost of Living > Compare Countries > United States vs Bahamas. - Median Home Cost is the biggest factor in the cost of living difference. Cost of Living Indexes. How these numbers are calculated. Salary.com's Cost of Living Calculator lets you compare the cost of living and salary differentials State to State or over 300+ US cities. The price you pay for electricity depends on numerous factors including (but not limited to) your location, time of year, consumption, and market changes/disruptions. Compare cost of living in Vero Beach with factors like salaries, housing expenses, groceries, utilities and more. Cost of living in Florida vs. Massachusetts. Weather 8. The cost of assisted living nationally averages $132 per day, $4,000 per month and $48,000 annually. (5 miles), Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands), Short visit to private doctor (15 minutes), Standard men's haircut in expat area of the city, Basic dinner out for two in neighborhood pub, 2 tickets to the theater (best available seats), Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert, 1 beer in neighbourhood pub (500ml or 1pt. Full cost of living comparison of Orlando, Florida vs Detroit, Michigan. We provide several metrics to compare the cost of living including cost of groceries, transportation, and more. Median Home Cost: $135,400 Medicare Advantage Monthly Cost: $48.04 Cost Of Living: $46,838. These prices were last updated on January 01, 2021. For major cities in those countries you get more relevant data by specifying cities. Cost of Living Comparison Between Detroit, MI and Tampa, FL You would need around 4,944.97$ in Tampa, FL to maintain the same standard of life that you can have with 4,500.00 $ in Detroit, MI (assuming you rent in both cities). Updated on Jul 2020. You probably should avoid "state vs state" threads if you can't add any more insight than "Miami is better than Detroit, therefore Florida is better than Michigan." © 2009-2021 Expatistan.com. 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