Fort Myers Shores 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.
IndexFort Myers ShoresFloridaNational
Cost of living index8899100
IndexFort Myers ShoresFloridaNational
Goods & Services index10299100
Groceries index104102100
Health care index9497100
Housing index5795100
Transportation index110100100
Utilities index90103100
A general overview of the cost of living index for Fort Myers Shores, FL is displayed above. In Fort Myers Shores, FL, the overall cost of living index is 88, which is 11% lower than the Florida average and 12% lower than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Fort Myers Shores, FL, the city's goods and services are 3% higher than the Florida average and 2% higher than the U.S. average.

Did you know?

  • The cost of living in Fort Myers Shores is 11% lower than the Florida average.
  • The cost of living in Fort Myers Shores is 12% lower than the national average.
  • The cost of housing in Fort Myers Shores is 43% 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.

Find Real Estate Listings In Fort Myers Shores

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In Fort Myers Shores

Compare Fort Myers Shores, FL Cost of living To Other Cities

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
Use the salary calculator to compare your current income in Fort Myers Shores, 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 Fort Myers Shores, FL, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Fort Myers Shores, 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 IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$50,917$4,243$1,188$1,528
Renters$26,902$2,242$628$807
A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Fort Myers Shores, FL, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Fort Myers Shores, FL has a median income of about $50,917 for people who own homes. Based on that number, a person should spend a maximum of $1,188 on expenses related to housing. Renters have a slightly different median income, which is $26,902. Based on this average, renters should spend no more than $628 on all of their rental costs if they want to maintain a non-impoverished standard of living.

Florida Sales Tax

StateGeneral Sales TaxWith Max Surtax
Florida6%7.5%

Florida Income Tax

StateIncome Tax (Low)Income Tax (High)
Florida0%0%
For those who live in Fort Myers Shores, FL and want to know what the true cost of living is, they ought to look at both the Florida income tax rate and the Florida sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Florida, the sales tax is 6%, while the most you'll pay in surtax is 7.5%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Florida, the income tax rate ranges between 0% to 0%.

Goods & Services

ItemFort Myers ShoresNational avg.Difference
Haircut $13.66$15.5612.2%
Beauty Salon $34.83$36.113.5%
Toothpaste $3.29$2.4733.1%
Shampoo $1.05$0.968.5%
Movie $9.99$10.131.4%
Bowling $7.25$4.7453.1%

Groceries

ItemFort Myers ShoresNational avg.Difference
Ground Beef $4.32$3.988.5%
Fried Chicken $1.34$1.414.8%
Milk $2.60$2.0626.0%
Potatoes $3.59$2.9820.5%
Pizza $8.49$9.4710.4%
Beer $9.03$8.792.6%

Health Care

ItemFort Myers ShoresNational avg.Difference
Optometrist $83.00$101.0417.9%
Doctor $98.59$107.448.2%
Dentist $79.17$90.4212.4%
Ibuprofen $9.60$9.283.5%
Lipitor $452.76$426.506.2%

Housing

ItemFort Myers ShoresNational avg.Difference
Home Price $76,600.00$175,700.0056.4%
Avg. Mortgage Payment $1,029.00$1,133.239.2%
Apartment Rent $814.00$920.0011.5%

Transportation

ItemFort Myers ShoresNational avg.Difference
Gasoline $1.96$1.991.5%
Tire Balancing $61.93$45.7635.3%

Utilities

ItemFort Myers ShoresNational avg.Difference
All Electricity$157.45$163.813.9%
Phone $23.33$28.3917.8%
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.
Charleston Park, FL2741011%
Palmona Park, FL1,26782-18%
Suncoast Estates, FL4,62983-17%
Pine Manor, FL4,36384-16%
Tice, FL4,24584-16%
Fort Myers Shores, FL5,42088-12%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Palermo, CA5,4191066%
Mount Hood Village, OR5,41711616%
Goshen, NY5,41712828%
Gretna, NE5,41695-5%
Pelican Bay, FL5,42617979%
Fort Myers Shores, FL5,42088-12%
Source: The Fort Myers Shores, FL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.