Siesta 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.
IndexSiesta KeyFloridaNational
Cost of living index15499100
IndexSiesta KeyFloridaNational
Goods & Services index10699100
Groceries index117102100
Health care index11697100
Housing index26595100
Transportation index88100100
Utilities index103103100
Here we can see a simple outline of the cost of living in Siesta Key, FL. As you can see, with the average cost of living in Siesta Key, FL being 154, that puts it 55% higher than the average of Florida and 54% higher than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Siesta Key, FL, the price of goods and services are 7% higher than the average of Florida as well as 6% higher than the nation's average.

Did you know?

  • The cost of living in Siesta Key is 55% higher than the Florida average.
  • The cost of living in Siesta Key is 54% higher than the national average.
  • The cost of housing in Siesta Key is 165% 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 Siesta Key, FL Cost of living To Other Cities

Salary Calculator

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Health care index
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Use the salary calculator to compare your current salary in Siesta Key, FL to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Siesta Key, FL, then you would need to earn more income in order to maintain the same standard of living. To use the Siesta Key, FL salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$81,591$6,799$1,904$2,448
Renters$47,115$3,926$1,099$1,414
If you want to find a good determining factor for the cost of living and the general affordability of housing in Siesta Key, FL, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Siesta Key, FL, the median monthly income is $81,591 for those who own their own homes. Under the standard rule, that income level would allow for $1,904 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $47,115, per the median income in the area. That would allow for renters to spend up to $1,099 on monthly rental expenses.

Florida Sales Tax

StateGeneral Sales TaxWith Max Surtax
Florida6%7.5%

Florida Income Tax

StateIncome Tax (Low)Income Tax (High)
Florida0%0%
For those who live in Siesta Key, FL and want to know what the true cost of living is, they ought to look at both the Florida income tax rate and the Florida sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Florida, the sales tax is 6%, while the most you'll pay in surtax is 7.5%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Florida, the income tax rate ranges between 0% to 0%.

Goods & Services

ItemSiesta KeyNational avg.Difference
Haircut $15.26$15.562.0%
Beauty Salon $37.17$36.113.0%
Toothpaste $3.93$2.4758.9%
Shampoo $1.01$0.964.3%
Movie $9.98$10.131.5%
Bowling $4.09$4.7413.6%

Groceries

ItemSiesta KeyNational avg.Difference
Ground Beef $5.00$3.9825.5%
Fried Chicken $1.58$1.4112.0%
Milk $2.76$2.0633.9%
Potatoes $4.83$2.9861.9%
Pizza $8.46$9.4710.7%
Beer $9.22$8.794.9%

Health Care

ItemSiesta KeyNational avg.Difference
Optometrist $118.07$101.0416.8%
Doctor $152.81$107.4442.2%
Dentist $92.34$90.422.1%
Ibuprofen $11.12$9.2819.8%
Lipitor $442.67$426.503.8%

Housing

ItemSiesta KeyNational avg.Difference
Home Price $539,100.00$175,700.00206.8%
Avg. Mortgage Payment $1,137.02$1,133.230.3%
Apartment Rent $1,546.00$920.0068.0%

Transportation

ItemSiesta KeyNational avg.Difference
Gasoline $2.01$1.990.7%
Tire Balancing $26.67$45.7641.7%

Utilities

ItemSiesta KeyNational avg.Difference
All Electricity$145.57$163.8111.1%
Phone $34.98$28.3923.2%
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, FL22,81489-11%
West Samoset, FL6,59790-10%
Bayshore Gardens, FL17,89991-9%
Samoset, FL3,59092-8%
North Sarasota, FL7,54892-8%
Siesta Key, FL6,15815454%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Geneva, OH6,15890-10%
Manvel, TX6,15998-2%
Manistee, MI6,16084-16%
Ontario, OH6,16086-14%
Kingston Estates, NJ6,16111919%
Siesta Key, FL6,15815454%
Source: The Siesta Key, FL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.