Callaway cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexCallawayFloridaNational
Cost of living index8999100
IndexCallawayFloridaNational
Goods & Services index9099100
Groceries index98102100
Health care index8497100
Housing index8595100
Transportation index90100100
Utilities index89103100
Displayed above is a general overview of the Callaway, FL cost of living index. The overall cost of living index in Callaway, FL is 89, which is 10% lower than the Florida average and 11% lower than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Callaway, FL are 10% lower than the Florida average and 10% lower than the national average.

Did you know?

  • The cost of living in Callaway is 10% lower than the Florida average.
  • The cost of living in Callaway is 11% lower than the national average.
  • The cost of housing in Callaway is 15% 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.

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Compare Callaway, FL Cost of living To Other Cities

Salary Calculator

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The salary calculator is used in order to provide a comparison of your current salary in Callaway, FL to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Callaway, FL, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Callaway, FL salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$55,534$4,628$1,296$1,666
Renters$36,816$3,068$859$1,105
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Callaway, FL as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Callaway, FL homeowners, is $55,534. This would allow for a maximum of $1,296 per month to be spent on housing costs. For renters, the median monthly income is $36,816 which would result in a maximum of $859 to be spent on rental costs.

Florida Sales Tax

StateGeneral Sales TaxWith Max Surtax
Florida6%7.5%

Florida Income Tax

StateIncome Tax (Low)Income Tax (High)
Florida0%0%
When assessing the complete cost of living in Callaway, FL, the Florida income tax and the Florida sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Florida maximum surtax is 7.5%, and the Florida sales tax is 6%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 0% to 0% in Florida.

Goods & Services

ItemCallawayNational avg.Difference
Haircut $12.37$15.5620.5%
Beauty Salon $19.65$36.1145.6%
Toothpaste $2.30$2.476.9%
Shampoo $0.86$0.9610.9%
Movie $10.29$10.131.6%
Bowling $3.53$4.7425.4%

Groceries

ItemCallawayNational avg.Difference
Ground Beef $4.06$3.981.9%
Fried Chicken $1.26$1.4110.4%
Milk $2.21$2.067.1%
Potatoes $3.01$2.981.0%
Pizza $10.13$9.476.9%
Beer $8.33$8.795.3%

Health Care

ItemCallawayNational avg.Difference
Optometrist $73.58$101.0427.2%
Doctor $78.82$107.4426.6%
Dentist $68.54$90.4224.2%
Ibuprofen $10.14$9.289.3%
Lipitor $447.61$426.505.0%

Housing

ItemCallawayNational avg.Difference
Home Price $135,100.00$175,700.0023.1%
Avg. Mortgage Payment $904.45$1,133.2320.2%
Apartment Rent $949.00$920.003.2%

Transportation

ItemCallawayNational avg.Difference
Gasoline $1.82$1.998.7%
Tire Balancing $40.06$45.7612.5%

Utilities

ItemCallawayNational avg.Difference
All Electricity$145.80$163.8111.0%
Phone $25.60$28.399.8%
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, StatePopulationCost of Living IndexNational Avg.
Cedar Grove, FL3,25782-18%
Springfield, FL9,09584-16%
Parker, FL4,41985-15%
Panama City, FL36,40588-12%
Lower Grand Lagoon, FL4,18193-7%
Callaway, FL14,61789-11%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Lake Mary, FL14,60511010%
West Park, FL14,60496-4%
Gantt, SC14,63088-12%
South Venice, FL14,6371000%
Lebanon, MO14,59583-17%
Callaway, FL14,61789-11%
Source: The Callaway, FL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.