Sarasota Springs, FL Cost Of Living

Sarasota Springs 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.
Index	Sarasota Springs	Florida	National
Cost of living index	106	99	100
Index	Sarasota Springs	Florida	National
Goods & Services index	114	99	100
Groceries index	120	105	100
Health care index	117	98	100
Housing index	97	96	100
Transportation index	92	100	100
Utilities index	106	103	100

An overview of the general cost of living index for Sarasota Springs, FL is displayed above for your reference. Residents in Sarasota Springs, FL enjoy a cost of living index of 106. This index is 7% higher than the Florida average, and 6% higher 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 Sarasota Springs, FL, the average cost of goods and services is 15% higher than it is in Florida, and it is 14% higher than the national average.

Did you know?

The cost of living in Sarasota Springs is 7% higher than the Florida average.
The cost of living in Sarasota Springs is 6% higher than the national average.
The cost of housing in Sarasota Springs is 3% 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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Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

The salary calculator is meant to help you compare your salary in Sarasota Springs, FL to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Sarasota Springs, FL, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Sarasota Springs, FL salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$57,301	$4,775	$1,337	$1,719
Renters	$49,207	$4,101	$1,148	$1,476

A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Sarasota Springs, FL, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Sarasota Springs, FL has a median income of about $57,301 for people who own homes. Based on that number, a person should spend a maximum of $1,337 on expenses related to housing. Renters have a slightly different median income, which is $49,207. Based on this average, renters should spend no more than $1,148 on all of their rental costs if they want to maintain a non-impoverished standard of living.

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%

The Florida sales tax and Florida income tax rates should definitely be considered when determining the overall cost of living in Sarasota Springs, FL. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Florida sales tax is 6% and the maximum surtax is 7.5%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Florida income tax rates range from 0% to 0%.

Goods & Services

Item	Sarasota Springs	National avg.	Difference
Haircut	$14.11	$16.09	12.3%
Beauty Salon	$34.84	$37.33	6.7%
Toothpaste	$4.10	$2.45	67.3%
Shampoo	$0.96	$1.00	4.4%
Movie	$8.73	$10.28	15.1%
Bowling	$3.21	$4.93	34.9%

Groceries

Item	Sarasota Springs	National avg.	Difference
Ground Beef	$5.07	$3.80	33.4%
Fried Chicken	$1.72	$1.40	22.9%
Milk	$2.93	$2.01	45.7%
Potatoes	$3.80	$3.01	26.2%
Pizza	$8.55	$9.89	13.5%
Beer	$8.91	$8.90	0.2%

Health Care

Item	Sarasota Springs	National avg.	Difference
Optometrist	$114.72	$102.16	12.3%
Doctor	$154.87	$108.36	42.9%
Dentist	$94.94	$92.53	2.6%
Ibuprofen	$11.31	$9.28	21.9%
Lipitor	$443.12	$425.82	4.1%

Housing

Item	Sarasota Springs	National avg.	Difference
Home Price	$153,800.00	$184,700.00	16.7%
Avg. Mortgage Payment	$1,242.95	$1,202.44	3.4%
Apartment Rent	$1,216.00	$949.00	28.1%

Transportation

Item	Sarasota Springs	National avg.	Difference
Gasoline	$2.29	$2.24	1.8%
Tire Balancing	$32.86	$46.29	29.0%

Utilities

Item	Sarasota Springs	National avg.	Difference
All Electricity	$153.91	$165.96	7.3%
Phone	$34.98	$28.68	21.9%

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, State	Population	Cost of Living Index	National Avg.
South Bradenton, FL	24,428	92	-8%
West Samoset, FL	6,836	93	-7%
Bayshore Gardens, FL	19,409	94	-6%
Samoset, FL	4,243	96	-4%
North Sarasota, FL	8,412	96	-4%
Sarasota Springs, FL	16,425	106	6%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Vincent, CA	16,416	133	33%
Kingsland, GA	16,411	92	-8%
Cohoes, NY	16,411	98	-2%
Beaver Dam, WI	16,440	91	-9%
Sartell, MN	16,442	101	1%
Sarasota Springs, FL	16,425	106	6%

Source: The Sarasota Springs, FL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.

Sarasota Springs, FL Cost of Living