An Overview of Cost of Living in Lehigh Acres, FL
Are you thinking about relocating, but curious about the potential cost of living in Lehigh Acres? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Lehigh Acres stands at 102, making it 2% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.
In Lehigh Acres, daily expenses such as food, housing, goods and services, transportation and health care are in line with comparable areas and about average when compared to all cities across the nation. This ensures that the cost of living in Lehigh Acres will resemble that of an average city, contributing to a manageable cost of living.
Is Lehigh Acres Affordable?
Is Lehigh Acres an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Lehigh Acres is 8.2% lower than the national average, while the average monthly rent prices are 22.9% higher than average. The affordability of any location can also be influenced by median income levels. Lehigh Acres has a median household income of $49,937, which is 9.7% lower than the national average.
What Factors can Influence the Cost of Living in Lehigh Acres?
Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Lehigh Acres, the transportation index is 7.4% higher than the national average.
Urbanization: Larger, urban hubs brimming with ample amenities and robust employment opportunities often showcase a heightened cost of living. This surge is primarily attributed to the amplified demand for services and increased residential migration, culminating in elevated home prices and elevated rental rates. Conversely, less densely populated rural locales or regions characterized by reduced demand tend to offer a more limited array of amenities and undergo slower job market growth, ultimately yielding a more affordable cost of living.
Utilities: As with the prices of anything else, utility costs can exhibit significant variations, contingent on factors like climate, energy source availability, geographic location and state regulations. The expenses associated with electricity, water, heating, and waste disposal can fluctuate, either upward or downward, depending on the particular city or state. In Lehigh Acres, the utilities index registers 4.2% lower than the national average.
Where is the Data From?
The cost of living in Lehigh Acres, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.
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