Kensington Park 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.
IndexKensington ParkFloridaNational
Cost of living index95100100
IndexKensington ParkFloridaNational
Goods & Services index104101100
Groceries index103105100
Health care index10897100
Housing index7695100
Transportation index103105100
Utilities index103102100
An overview of the general cost of living index for Kensington Park, FL is displayed above for your reference. Residents in Kensington Park, FL enjoy a cost of living index of 95. This index is 5% lower than the Florida average, and 5% lower than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Kensington Park, FL, the average cost of goods and services is 4% higher than it is in Florida, and it is 4% higher than the national average.

Did you know?

  • The cost of living in Kensington Park is 5% lower than the Florida average.
  • The cost of living in Kensington Park is 5% lower than the national average.
  • The cost of housing in Kensington Park is 24% 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 Kensington Park, FL Cost of living To Other Cities

Salary Calculator

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Health care index
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The salary calculator allows you to compare how much your current salary in Kensington Park, FL would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Kensington Park, FL, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Kensington Park, FL salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$46,011$3,834$1,074$1,380
Renters$27,214$2,268$635$817
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Kensington Park, 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 Kensington Park, FL homeowners, is $46,011. This would allow for a maximum of $1,074 per month to be spent on housing costs. For renters, the median monthly income is $27,214 which would result in a maximum of $635 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%
One thing to keep in mind when considering the cost of living in Kensington Park, FL is the Florida sales tax and Florida income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Florida sales tax rate is 6% and the maximum surtax that can be charged is 7.5%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Florida income tax rates range from 0% to 0%.

Goods & Services

ItemKensington ParkNational avg.Difference
Haircut $14.00$14.594.1%
Beauty Salon $38.25$34.6810.3%
Toothpaste $2.94$2.4718.9%
Shampoo $1.11$1.028.6%
Movie $9.54$9.873.3%
Bowling $4.50$4.392.5%

Groceries

ItemKensington ParkNational avg.Difference
Ground Beef $4.89$4.489.2%
Fried Chicken $1.63$1.4611.3%
Milk $2.73$2.3615.8%
Potatoes $3.18$3.063.9%
Pizza $8.37$9.249.4%
Beer $9.75$8.6312.9%

Health Care

ItemKensington ParkNational avg.Difference
Optometrist $119.33$99.7819.6%
Doctor $137.25$105.0330.7%
Dentist $79.20$88.7010.7%
Ibuprofen $10.09$9.417.2%
Lipitor $328.16$298.509.9%

Housing

ItemKensington ParkNational avg.Difference
Home Price $100,400.00$175,700.0042.9%
Avg. Mortgage Payment $1,157.56$1,081.037.1%
Apartment Rent $1,095.00$920.0019.0%

Transportation

ItemKensington ParkNational avg.Difference
Gasoline $2.19$2.094.6%
Tire Balancing $44.50$45.291.7%

Utilities

ItemKensington ParkNational avg.Difference
All Electricity$158.97$170.806.9%
Phone $32.85$28.2616.3%
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, StatePopulationCost of Living IndexNational Avg.
South Bradenton, FL22,81488-12%
West Samoset, FL6,59789-11%
Bayshore Gardens, FL17,89990-10%
Samoset, FL3,59091-9%
North Sarasota, FL7,54891-9%
Kensington Park, FL4,22895-5%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Creedmoor, NC4,22895-5%
Marshfield, MA4,22714343%
Franklin Center, NJ4,22714040%
Tea, SD4,22697-3%
Whiteland, IN4,22690-10%
Kensington Park, FL4,22895-5%
Source: The Kensington Park, FL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.