A+
10%
Overall NAT. AVG.
0%
Goods & Services NAT. AVG.
35%
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 South Bradenton Florida National
Cost of living9098100
Goods & Services10098100
Groceries10199100
Health care10396100
Housing6596100
Transportation9799100
Utilities10097100

An Overview of Cost of Living in South Bradenton, FL

The cost of living in South Bradenton affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in South Bradenton is 90, which is 10% lower than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

Is South Bradenton Affordable?

Is South Bradenton 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 South Bradenton is 51.1% lower than the national average, while the average monthly rent prices are 2.2% higher than average. The affordability of any location can also be influenced by median income levels. South Bradenton has a median household income of $38,656, which is 30.1% lower than the national average.

What Factors can Influence the Cost of Living in South Bradenton?

Taxes: Cities that impose higher taxes, including sales and income taxes, can contribute to an escalated cost of living. The added expense of taxes on everyday goods like clothing and food naturally results in higher overall costs. Similarly, a higher income tax rate can further elevate the cost of living. In South Bradenton, the general sales tax rate starts at 6%, and income tax rates begin at 0%.

Urbanization: Urban areas with a wealth of amenities and employment opportunities tend to come with a higher price tag for living. Why? Well, more people want to be there, which drives up home prices and rents. On the flip side, less densely populated rural areas or places where there's not as much demand usually mean fewer attractions, things to do and slower job growth. That often results in a lower cost of living.

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 South Bradenton, the transportation index is 2.9% lower than the national average.

Where is the Data From?

The South Bradenton cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in South Bradenton is 8% lower than the Florida average
  • The cost of living in South Bradenton is 10% lower than the national average
  • South Bradenton housing is 35% 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 South Bradenton

See all the best places to live around South Bradenton

Compare South Bradenton, 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$43,750$3,646$1,021$1,313
      Renters$34,466$2,872$804$1,034
      The affordability of the housing market in South Bradenton, FL as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among South Bradenton homeowners, the median income is $43,750. This indicates that a monthly maximum of $1,021 should be spent by homeowners on all housing related costs. Renters have a median income of $34,466. This indicates that renters would have a maximum of $804 for their rent related monthly costs.

      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 South Bradenton National avg. Difference
      Haircut $26.28$24.268.3%
      Beauty Salon $41.57$45.568.8%
      Toothpaste $3.67$3.701.0%
      Shampoo $1.36$1.286.5%
      Movie $13.08$12.137.8%
      Bowling $16.72$18.007.1%

      Groceries

      Item South Bradenton National avg. Difference
      Ground Beef $5.02$5.8414.0%
      Fried Chicken $1.48$1.576.0%
      Milk $4.54$4.672.8%
      Potatoes $5.47$4.9310.9%
      Pizza $10.96$12.099.3%
      Beer $10.58$10.411.6%

      Health Care

      Item South Bradenton National avg. Difference
      Optometrist $104.04$125.6817.2%
      Doctor $122.85$135.789.5%
      Dentist $112.75$113.290.5%
      Ibuprofen $10.35$10.652.9%
      Lipitor $447.95$468.604.4%

      Housing

      Item South Bradenton National avg. Difference
      Home Price $90,400.00$184,700.0051.1%
      Avg. Mortgage Payment $1,781.84$2,346.6924.1%
      Apartment Rent $970.00$949.002.2%

      Transportation

      Item South Bradenton National avg. Difference
      Gasoline $3.56$3.462.8%
      Tire Balancing $63.29$59.925.6%

      Utilities

      Item South Bradenton National avg. Difference
      All Electricity $149.04$193.9923.2%
      Phone $193.01$192.250.4%
      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.
      Whitfield CDP (Santa Rosa County), FL2039010.2%
      Bayshore Gardens, FL20,380937.4%
      West Samoset, FL7,191946.4%
      Samoset, FL4,701945.7%
      Palmetto, FL13,678982.2%
      South Bradenton, FL24,8859010.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Sturgeon County, AB24,881n/a 
      Hastings, NE24,8788515.3%
      Kernersville, NC24,8761010.6%
      Elk River, MN24,8941054.9%
      Bainbridge Island, WA24,85918787.5%
      South Bradenton, FL24,8859010.4%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.