A+
5%
Overall NAT. AVG.
1%
Goods & Services NAT. AVG.
12%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Oak Ridge Florida National
Cost of living9598100
Goods & Services10198100
Groceries9899100
Health care9296100
Housing8896100
Transportation9599100
Utilities9097100

An Overview of Cost of Living in Oak Ridge, FL

Are you thinking about relocating, but curious about the potential cost of living in Oak Ridge? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Oak Ridge stands at 95, making it 5% lower 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 Oak Ridge, 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 Oak Ridge will resemble that of an average city, contributing to a manageable cost of living.

Is Oak Ridge Affordable?

Is Oak Ridge 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 Oak Ridge is 24.2% lower than the national average, while the average monthly rent prices are 15.7% higher than average. The affordability of any location can also be influenced by median income levels. Oak Ridge has a median household income of $40,357, which is 27.1% lower than the national average.

What Factors can Influence the Cost of Living in Oak Ridge?

Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Regions with limited subsidy provisions may witness an increase in their overall cost of living.

Urbanization: Larger, urban areas boasting abundant amenities and robust employment prospects often exhibit a heightened cost of living, driven by the increased demand for services and residential relocation. Consequently, this leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural locales or regions marked by diminished demand typically offer a more limited range of amenities and experience slower job market expansion. This translates into a more affordable cost of living.

Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday goods and services, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Oak Ridge, the standard sales tax rate starts at 6%, and the income tax rates commence at 0%.

Where is the Data From?

The cost of living data in Oak Ridge displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

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Cost Of Living Quick Facts

  • The cost of living in Oak Ridge is 3% lower than the Florida average
  • The cost of living in Oak Ridge is 5% lower than the national average
  • Oak Ridge housing is 12% 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

Most Affordable Places to Live in and Around Oak Ridge

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Compare Oak Ridge, FL Cost of Living

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      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

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$41,660$3,472$972$1,250
      Renters$39,488$3,291$921$1,185
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Oak Ridge, FL, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Oak Ridge, homeowners have a median income of $41,660. Using that number, a maximum of $972 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $39,488, which means there is a maximum of $921 to be spent on the costs of renting a home or apartment.

      Florida Sales Tax

      State General Sales Tax With Max Surtax
      Florida 6% 7.5%

      Florida Income Tax

      State Income Tax (Low) Income Tax (High)
      Florida 0% 0%

      Goods & Services

      Item Oak Ridge National avg. Difference
      Haircut $26.53$24.269.4%
      Beauty Salon $55.13$45.5621.0%
      Toothpaste $3.84$3.703.8%
      Shampoo $1.48$1.2815.8%
      Movie $13.54$12.1311.6%
      Bowling $19.87$18.0010.4%

      Groceries

      Item Oak Ridge National avg. Difference
      Ground Beef $6.26$5.847.1%
      Fried Chicken $1.40$1.5711.0%
      Milk $4.58$4.671.9%
      Potatoes $5.23$4.936.0%
      Pizza $13.13$12.098.6%
      Beer $11.07$10.416.3%

      Health Care

      Item Oak Ridge National avg. Difference
      Optometrist $118.44$125.685.8%
      Doctor $137.00$135.780.9%
      Dentist $125.36$113.2910.7%
      Ibuprofen $10.89$10.652.2%
      Lipitor $446.86$468.604.6%

      Housing

      Item Oak Ridge National avg. Difference
      Home Price $140,000.00$184,700.0024.2%
      Avg. Mortgage Payment $2,463.53$2,346.695.0%
      Apartment Rent $1,098.00$949.0015.7%

      Transportation

      Item Oak Ridge National avg. Difference
      Gasoline $3.39$3.462.1%
      Tire Balancing $57.07$59.924.8%

      Utilities

      Item Oak Ridge National avg. Difference
      All Electricity $190.71$193.991.7%
      Phone $194.67$192.251.3%
      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 Population Cost of Living Index National Avg.
      Lake Buena Vista, FL4972.6%
      Tildenville, FL43972.6%
      Lake Butler city, FL2,1858118.7%
      Bay Lake, FL438416.3%
      Campbell, FL2,2628515.1%
      Oak Ridge, FL23,596955.5%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Van Buren, AR23,6009010.0%
      Cudahy, CA23,60614241.9%
      Strathroy-Caradoc, ON23,574n/a 
      Venice, FL23,57211414.3%
      Belton, MO23,568927.9%
      Oak Ridge, FL23,596955.5%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.