To review the cost of living in Florida, as compared to other states, we looked at a recent study performed by the Missouri Economic Research and Information Center (MERIC) whose popular cost of living index is commonly used for comparisons.
As part of their study, MERIC analyzes price data from The Council for Community and Economic Research (C2ER) that is collected from participating cities and metropolitan areas in a given state to compute a cost of living index for each state. View Study
For the third quarter of 2023, Florida's cost of living index was calculated to be 101.0
which means that the cost to live in Florida is just 1.0% above the national average baseline of 100. Overall, Florida ranked 30th in terms of its cost of living. The states with the highest cost of living include Hawaii, Massachusetts, California, New York, and Alaska. The states with the lowest cost of living include West Virginia, Mississippi, Oklahoma, Kansas and Alabama.
Florida Housing Costs
For a breakdown of actual and on-going expenses associated with owning a Florida home, be sure to check out our Real Cost of Florida Home Ownership
page where we provide typical monthly expense scenarios for single family homes and condos.