Temple Terrace 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.
IndexTemple TerraceFloridaNational
Cost of living index98100100
IndexTemple TerraceFloridaNational
Goods & Services index96101100
Groceries index99105100
Health care index9197100
Housing index9895100
Transportation index102105100
Utilities index103102100
The above illustration supplies generalized information for the Temple Terrace, FL cost of living index. Compared to other cities in Florida and cities across the country, the cost of living index in Temple Terrace, FL is 98, which is 2% lower than the Florida average and 2% lower 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 Temple Terrace, FL are 5% lower than the average for Florida and 4% lower than the rest of the country.

Did you know?

  • The cost of living in Temple Terrace is 2% lower than the Florida average.
  • The cost of living in Temple Terrace is 2% lower than the national average.
  • The cost of housing in Temple Terrace is 2% 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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Compare Temple Terrace, FL Cost of living To Other Cities

Salary Calculator

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Groceries index
Health care index
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The salary calculator is meant to help you compare your salary in Temple Terrace, 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 Temple Terrace, FL, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Temple Terrace, 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 IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$70,186$5,849$1,638$2,106
Renters$35,164$2,930$820$1,055
One can approximate the cost of living and the housing affordability in Temple Terrace, FL by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Temple Terrace, FL have a median income of $70,186. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,638 per month to avoid calamity and poverty. The renters in the city have an income of about $35,164, which would make their monthly maximum allowable rental costs $820.

Florida Sales Tax

StateGeneral Sales TaxWith Max Surtax
Florida6%7.5%

Florida Income Tax

StateIncome Tax (Low)Income Tax (High)
Florida0%0%
When considering the overall cost of living expenses in Temple Terrace, FL, it's important to take into account the sales tax for Florida, as well as the rate for income tax in Florida. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for Florida is 7.5%, and the sales tax in the state of Florida is 6%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in Florida starts from 0% and goes up to 0%.

Goods & Services

ItemTemple TerraceNational avg.Difference
Haircut $14.10$14.593.4%
Beauty Salon $32.10$34.687.4%
Toothpaste $2.28$2.477.8%
Shampoo $1.00$1.022.2%
Movie $9.61$9.872.6%
Bowling $5.22$4.3918.9%

Groceries

ItemTemple TerraceNational avg.Difference
Ground Beef $4.61$4.483.0%
Fried Chicken $1.51$1.463.1%
Milk $2.70$2.3614.6%
Potatoes $3.47$3.0613.3%
Pizza $8.49$9.248.1%
Beer $8.67$8.630.4%

Health Care

ItemTemple TerraceNational avg.Difference
Optometrist $91.30$99.788.5%
Doctor $85.80$105.0318.3%
Dentist $75.44$88.7015.0%
Ibuprofen $9.44$9.410.3%
Lipitor $324.53$298.508.7%

Housing

ItemTemple TerraceNational avg.Difference
Home Price $164,400.00$175,700.006.4%
Avg. Mortgage Payment $774.61$1,081.0328.3%
Apartment Rent $992.00$920.007.8%

Transportation

ItemTemple TerraceNational avg.Difference
Gasoline $2.08$2.090.3%
Tire Balancing $48.65$45.297.4%

Utilities

ItemTemple TerraceNational avg.Difference
All Electricity$160.88$170.805.8%
Phone $32.47$28.2614.9%
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, StatePopulationCost of Living IndexNational Avg.
Zephyrhills South, FL6,05981-19%
Zephyrhills West, FL5,37883-17%
Zephyrhills North, FL2,17385-15%
University, FL41,73286-14%
Crystal Springs, FL92387-13%
Temple Terrace, FL25,09898-2%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Timberwood Park, TX25,08611212%
Dedham, MA25,11114848%
Salem, VA25,12093-7%
Woodstock, IL25,12197-3%
Statesville, NC25,13293-7%
Temple Terrace, FL25,09898-2%
Source: The Temple Terrace, FL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.