Lecanto 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.
IndexLecantoFloridaNational
Cost of living index9499100
IndexLecantoFloridaNational
Goods & Services index9899100
Groceries index103102100
Health care index10297100
Housing index7595100
Transportation index103100100
Utilities index111103100
An overview of the general cost of living index for Lecanto, FL is displayed above for your reference. Residents in Lecanto, FL enjoy a cost of living index of 94. This index is 5% lower than the Florida average, and 6% 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 Lecanto, FL, the average cost of goods and services is 2% lower than it is in Florida, and it is 2% lower than the national average.

Did you know?

  • The cost of living in Lecanto is 5% lower than the Florida average.
  • The cost of living in Lecanto is 6% lower than the national average.
  • The cost of housing in Lecanto 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.

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Compare Lecanto, FL Cost of living To Other Cities

Salary Calculator

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Health care index
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The salary calculator is used in order to provide a comparison of your current salary in Lecanto, 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 Lecanto, FL, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Lecanto, 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$44,727$3,727$1,044$1,342
Renters$20,560$1,713$480$617
The affordability of the housing market in Lecanto, FL as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Lecanto, FL homeowners, the median income is $44,727. This indicates that a monthly maximum of $1,044 should be spent by homeowners on all housing related costs. Renters have a median income of $20,560. This indicates that renters should have a maximum of $480 used for their rent related monthly 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 Lecanto, 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

ItemLecantoNational avg.Difference
Haircut $14.72$15.565.4%
Beauty Salon $29.44$36.1118.5%
Toothpaste $2.96$2.4719.9%
Shampoo $0.91$0.965.7%
Movie $11.33$10.1311.8%
Bowling $4.87$4.742.8%

Groceries

ItemLecantoNational avg.Difference
Ground Beef $4.21$3.985.6%
Fried Chicken $1.55$1.419.9%
Milk $2.33$2.0613.1%
Potatoes $3.13$2.985.1%
Pizza $8.97$9.475.3%
Beer $9.30$8.795.8%

Health Care

ItemLecantoNational avg.Difference
Optometrist $72.83$101.0427.9%
Doctor $99.88$107.447.0%
Dentist $97.67$90.428.0%
Ibuprofen $10.76$9.2815.9%
Lipitor $437.48$426.502.6%

Housing

ItemLecantoNational avg.Difference
Home Price $125,600.00$175,700.0028.5%
Avg. Mortgage Payment $1,015.81$1,133.2310.4%
Apartment Rent $757.00$920.0017.7%

Transportation

ItemLecantoNational avg.Difference
Gasoline $2.05$1.992.7%
Tire Balancing $46.66$45.762.0%

Utilities

ItemLecantoNational avg.Difference
All Electricity$169.18$163.813.3%
Phone $34.66$28.3922.1%
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.
Istachatta, FL11698-2%
Nobleton, FL34177-23%
Dunnellon, FL1,68684-16%
Homosassa Springs, FL13,40383-17%
Inglis, FL1,30687-13%
Lecanto, FL5,39494-6%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Willard, MO5,39587-13%
White Hall, AR5,39292-8%
Piedmont, SC5,39688-12%
Isanti, MN5,39698-2%
Arlington Heights, PA5,3921033%
Lecanto, FL5,39494-6%
Source: The Lecanto, FL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.