Cost Of Living In Cape Coral, FL

Cape Coral 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.
Index	Cape Coral	Florida	National
Cost of living index	101	100	100
Index	Cape Coral	Florida	National
Goods & Services index	104	101	100
Groceries index	103	105	100
Health care index	108	97	100
Housing index	93	95	100
Transportation index	103	105	100
Utilities index	103	102	100

A general summary of the cost of living index in Cape Coral, FL is shown above. Compared to the state average of Florida the cost of living index in Cape Coral, FL is 101, which is 1% higher than the average in Florida and compared to the national average it is 1% higher than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Cape Coral, FL goods and services come in at 4% higher than the average in Florida and are 4% higher than compared to the nationwide average.

Did you know?

The cost of living in Cape Coral is 1% higher than the Florida average.
The cost of living in Cape Coral is 1% higher than the national average.
The cost of housing in Cape Coral is 7% 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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Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Use the salary calculator to compare your current income in Cape Coral, FL to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Cape Coral, FL, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Cape Coral, FL salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$54,892	$4,574	$1,281	$1,647
Renters	$40,465	$3,372	$944	$1,214

One can approximate the cost of living and the housing affordability in Cape Coral, FL by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Cape Coral, FL have a median income of $54,892. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,281 per month to avoid calamity and poverty. The renters in the city have an income of about $40,465, which would make their monthly maximum allowable rental costs $944.

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%

The Florida sales tax and Florida income tax rates should definitely be considered when determining the overall cost of living in Cape Coral, FL. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Florida sales tax is 6% and the maximum surtax is 7.5%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Florida income tax rates range from 0% to 0%.

Goods & Services

Item	Cape Coral	National avg.	Difference
Haircut	$14.00	$14.59	4.1%
Beauty Salon	$38.25	$34.68	10.3%
Toothpaste	$2.94	$2.47	18.9%
Shampoo	$1.11	$1.02	8.6%
Movie	$9.54	$9.87	3.3%
Bowling	$4.50	$4.39	2.5%

Groceries

Item	Cape Coral	National avg.	Difference
Ground Beef	$4.89	$4.48	9.2%
Fried Chicken	$1.63	$1.46	11.3%
Milk	$2.73	$2.36	15.8%
Potatoes	$3.18	$3.06	3.9%
Pizza	$8.37	$9.24	9.4%
Beer	$9.75	$8.63	12.9%

Health Care

Item	Cape Coral	National avg.	Difference
Optometrist	$119.33	$99.78	19.6%
Doctor	$137.25	$105.03	30.7%
Dentist	$79.20	$88.70	10.7%
Ibuprofen	$10.09	$9.41	7.2%
Lipitor	$328.16	$298.50	9.9%

Housing

Item	Cape Coral	National avg.	Difference
Home Price	$146,300.00	$175,700.00	16.7%
Avg. Mortgage Payment	$1,157.56	$1,081.03	7.1%
Apartment Rent	$1,061.00	$920.00	15.3%

Transportation

Item	Cape Coral	National avg.	Difference
Gasoline	$2.19	$2.09	4.6%
Tire Balancing	$44.50	$45.29	1.7%

Utilities

Item	Cape Coral	National avg.	Difference
All Electricity	$158.97	$170.80	6.9%
Phone	$32.85	$28.26	16.3%

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, State	Population	Cost of Living Index	National Avg.
Palmona Park, FL	1,267	83	-17%
Suncoast Estates, FL	4,629	85	-15%
Pine Manor, FL	4,363	86	-14%
Tice, FL	4,245	86	-14%
North Fort Myers, FL	39,143	88	-12%
Cape Coral, FL	161,804	101	1%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Springfield, MO	162,333	87	-13%
Sioux Falls, SD	160,964	95	-5%
Peoria, AZ	160,231	98	-2%
Pembroke Pines, FL	159,920	109	9%
Lancaster, CA	159,092	106	6%
Cape Coral, FL	161,804	101	1%

Source: The Cape Coral, FL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.

Cape Coral, FL Cost of Living