A brand-new index study released by FloridaRentals.com reveals the cheapest and most expensive cities to live in Florida.
The research reveals Hollywood is the cheapest, achieving an index score of 61.29 out of 100.
The study delves into Numbeo cost of living data, highlighting the cost of several factors, from eggs and bread to gym memberships, taxi costs, and internet bills. All 29 cities in Florida were ranked against 8 determining factors to receive a score out of 100.
Rankings are based on cost-of-living factors including accommodation, leisure, groceries, clothing, transport and utilities and bills.
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These factors were weighted against each city’s average annual personal income to create an index of the cheapest cities to live in Florida.
Hollywood ranks at number one, with a score of 61.29 out of 100, the city scored highest for clothing and transport. The average cost of a pair of jeans (Levis 501 or similar) in Hollywood is $35, and the average price of a one-way ticket on public transportation is just $2.
In second is Fort Myers, with an index score of 60.19 out of 100. Fort Myers’ scored highest for utilities and bills and clothing. In Fort Myers, the average monthly cost of basic utilities for an 85 meter-squared apartment is $129.28. The average cost price of a summer dress in a high street retailer is $25.
Third in the ranking is Boca Raton, with an index score of 59.76 out of 100. Boca Raton scores highest for clothing and utilities and bills. In Boca Raton, the average cost of a mobile phone monthly plan with calls and 10GB+ data is $43.
In fourth place is Bradenton, with a score of 59.64 out of 100, the city scores highly for its accommodation and utilities and bills. In Bradenton, the average monthly rental of a one-bedroom apartment in the city center is $1,500.
In fifth place is Melbourne, with 58.72 out of 100, transport and utilities and bills are its highest scoring factors. In Melbourne, the average cost of taxi transportation per kilometer is $1.49.
Rounding out the top ten are, Delray Beach, West Palm Beach, Boyton Beach, Deerfield Beach and Palm Cost.
The most expensive Florida city is Tampa, with a low score of 36.07 out of 100, the most expensive metrics are leisure and transportation. In Tampa, the average cost of a one-bedroom apartment in the city center is $2,091.89, whilst the renting of a tennis court for one hour at the weekend costs around $20.99.
A spokesperson for FloridaRentals.com commented on the study findings, “Florida is known for having a relatively diverse cost of living that can vary significantly depending on each specific city. Whilst Hollywood’s annual personal income per capita is fairly high, at $73,522, other factors rank extremely well against this figure, which is why it ranks at the top spot. Fort Myers’ annual personal income per capita is $62,885 and its cheapest factor is clothing, with the average cost price of a summer dress in a high street retailer is $25.
Housing costs can vary across Florida, with cities like Miami, Tampa and Orlando that tend to have higher housing costs compared to the more rural cities which offer more affordable housing options.
As for the cost of utilities, including electricity, water, and air conditioning, these can also vary based on location, usage, and the time of year.
Reports state that Fort Myers is the warmest city in Florida, closely followed by Miami. However, despite the need for air conditioning, interestingly, Fort Myers still has an inexpensive utilities and bills score of 81.11 out of 100. Tampa is the most expensive city in the index, with the annual personal income per capita at $58,315, leisure, transport and accommodation are the costliest amenities across the city.”
Taking all 29 cities in Florida, the experts have ranked 8 cost of living factors to receive a score out of 100.
Rankings are based on cost-of-living factors including accommodation, leisure, groceries, clothing, transport and utilities & bills. These factors were weighted against the average annual personal income per capita to create an index of the cheapest cities to live in Florida.
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