A+
7%
Overall NAT. AVG.
0%
Goods & Services NAT. AVG.
25%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Bayshore Gardens Florida National
Cost of living9398100
Goods & Services10098100
Groceries10199100
Health care10396100
Housing7596100
Transportation9799100
Utilities10097100

An Overview of Cost of Living in Bayshore Gardens, FL

Knowing the cost of living in Bayshore Gardens allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Bayshore Gardens stands at 93, marking it 7% lower than the national average.

The cost of living in Bayshore Gardens closely mirrors the national average in comparison to other cities nationwide. Essential items such as groceries, goods and services, health care and utilities are priced at a level consistent with similar urban areas. This means that residents of Bayshore Gardens can anticipate that their daily expenses will remain reasonably in line with those of an average city, contributing to a manageable cost of living.

Is Bayshore Gardens Affordable?

Wondering if Bayshore Gardens is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Bayshore Gardens, for example, the median home price is 39.2% lower than what folks pay nationally, and monthly rent is 8.1% higher than the usual rates. Plus, income levels matter too, with Bayshore Gardens boasting a median household income of $43,922, which is 20.6% lower than the national average.

What Factors can Influence the Cost of Living in Bayshore Gardens?

Utilities: Much like any other costs, utility expenses can exhibit considerable variations, influenced by factors such as climate, available energy sources, geographic location and state regulations. The costs associated with electricity, water, heating, and waste disposal can vary significantly depending on the city or state in question. In Bayshore Gardens, the utilities index stands at 0.4% lower than the national average.

Healthcare: Healthcare costs and insurance premiums can undergo substantial fluctuations based on the city or state of residence. Elements such as the availability of healthcare facilities, out-of-pocket costs for medical consultations, dental expenses, prescription medication charges and specialized medical care fees all contribute to variations in the cost of living. In Bayshore Gardens, healthcare costs are 2.6% higher than the national average.

Urbanization: Urban areas with a wealth of amenities and employment opportunities tend to come with a higher price tag for living. Why? Well, more people want to be there, which drives up home prices and rents. On the flip side, less densely populated rural areas or places where there's not as much demand usually mean fewer attractions, things to do and slower job growth. That often results in a lower cost of living.

Where is the Data From?

The Bayshore Gardens cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Bayshore Gardens is 5% lower than the Florida average
  • The cost of living in Bayshore Gardens is 7% lower than the national average
  • Bayshore Gardens housing is 25% lower than the national average
  • Florida general sales tax is 18% higher than the national average
  • Florida state income tax is 100% lower than the national average

Most Affordable Places to Live in and Around Bayshore Gardens

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Compare Bayshore Gardens, FL Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$46,825$3,902$1,093$1,405
      Renters$38,076$3,173$888$1,142
      To approximate the cost of living and the housing affordability in Bayshore Gardens, FL, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Bayshore Gardens have a median income of $46,825. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,093 per month to avoid calamity and poverty. The renters in the city have an income of about $38,076, which would make their monthly maximum allowable rental costs $888.

      Florida Sales Tax

      State General Sales Tax With Max Surtax
      Florida 6% 7.5%

      Florida Income Tax

      State Income Tax (Low) Income Tax (High)
      Florida 0% 0%

      Goods & Services

      Item Bayshore Gardens National avg. Difference
      Haircut $26.28$24.268.3%
      Beauty Salon $41.57$45.568.8%
      Toothpaste $3.67$3.701.0%
      Shampoo $1.36$1.286.5%
      Movie $13.08$12.137.8%
      Bowling $16.72$18.007.1%

      Groceries

      Item Bayshore Gardens National avg. Difference
      Ground Beef $5.02$5.8414.0%
      Fried Chicken $1.48$1.576.0%
      Milk $4.54$4.672.8%
      Potatoes $5.47$4.9310.9%
      Pizza $10.96$12.099.3%
      Beer $10.58$10.411.6%

      Health Care

      Item Bayshore Gardens National avg. Difference
      Optometrist $104.04$125.6817.2%
      Doctor $122.85$135.789.5%
      Dentist $112.75$113.290.5%
      Ibuprofen $10.35$10.652.9%
      Lipitor $447.95$468.604.4%

      Housing

      Item Bayshore Gardens National avg. Difference
      Home Price $112,300.00$184,700.0039.2%
      Avg. Mortgage Payment $1,781.84$2,346.6924.1%
      Apartment Rent $1,026.00$949.008.1%

      Transportation

      Item Bayshore Gardens National avg. Difference
      Gasoline $3.56$3.462.8%
      Tire Balancing $63.29$59.925.6%

      Utilities

      Item Bayshore Gardens National avg. Difference
      All Electricity $149.04$193.9923.2%
      Phone $193.01$192.250.4%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      South Bradenton, FL24,8859010.4%
      Whitfield CDP (Santa Rosa County), FL2039010.2%
      West Samoset, FL7,191946.4%
      Samoset, FL4,701945.7%
      Palmetto, FL13,678982.2%
      Bayshore Gardens, FL20,380937.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Crest Hill, IL20,3881021.9%
      Golden, CO20,39114645.6%
      Forest Lake, MN20,39311111.0%
      Elko, NV20,3961032.7%
      Northfield, MN20,3991032.7%
      Bayshore Gardens, FL20,380937.4%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.