Longboat Key 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.
IndexLongboat KeyFloridaNational
Cost of living index160100100
IndexLongboat KeyFloridaNational
Goods & Services index104101100
Groceries index103105100
Health care index10897100
Housing index29395100
Transportation index103105100
Utilities index103102100
The above illustration supplies generalized information for the Longboat Key, FL cost of living index. Compared to other cities in Florida and cities across the country, the cost of living index in Longboat Key, FL is 160, which is 61% higher than the Florida average and 60% higher than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Longboat Key, FL are 4% higher than the average for Florida and 4% higher than the rest of the country.

Did you know?

  • The cost of living in Longboat Key is 61% higher than the Florida average.
  • The cost of living in Longboat Key is 60% higher than the national average.
  • The cost of housing in Longboat Key is 193% higher 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 Longboat Key, FL Cost of living To Other Cities

Salary Calculator

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The salary calculator allows you to compare how much your current salary in Longboat Key, 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 Longboat Key, FL, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Longboat Key, 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$84,773$7,064$1,978$2,543
Renters$79,350$6,613$1,851$2,381
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Longboat Key, 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 Longboat Key, FL homeowners, is $84,773. This would allow for a maximum of $1,978 per month to be spent on housing costs. For renters, the median monthly income is $79,350 which would result in a maximum of $1,851 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%
When you are determining the total cost of living in Longboat Key, FL you will want to make sure you consider both the Florida sales tax and the Florida income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Florida is 6%, with the highest surtax being 7.5%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Florida have a range from 0% to 0%.

Goods & Services

ItemLongboat KeyNational 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

ItemLongboat KeyNational 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

ItemLongboat KeyNational 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

ItemLongboat KeyNational avg.Difference
Home Price $592,800.00$175,700.00237.4%
Avg. Mortgage Payment $1,157.56$1,081.037.1%
Apartment Rent $1,730.00$920.0088.0%

Transportation

ItemLongboat KeyNational avg.Difference
Gasoline $2.19$2.094.6%
Tire Balancing $44.50$45.291.7%

Utilities

ItemLongboat KeyNational 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%
Longboat Key, FL7,00316060%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Russellville, KY6,99880-20%
Umatilla, OR6,99884-16%
Stratford, NJ6,99711212%
Lake Lorraine, FL7,01198-2%
Lower Allen, PA7,0121000%
Longboat Key, FL7,00316060%
Source: The Longboat Key, FL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.