University Park 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.
IndexUniversity ParkFloridaNational
Cost of living index11399100
IndexUniversity ParkFloridaNational
Goods & Services index10599100
Groceries index103102100
Health care index10197100
Housing index13495100
Transportation index108100100
Utilities index99103100
A general summary of the cost of living index in University Park, FL is shown above. Compared to the state average of Florida the cost of living index in University Park, FL is 113, which is 14% higher than the average in Florida and compared to the national average it is 13% higher than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In University Park, FL goods and services come in at 5% higher than the average in Florida and are 5% higher than compared to the nationwide average.

Did you know?

  • The cost of living in University Park is 14% higher than the Florida average.
  • The cost of living in University Park is 13% higher than the national average.
  • The cost of housing in University Park is 34% 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 University Park, FL Cost of living To Other Cities

Salary Calculator

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The salary calculator is used in order to provide a comparison of your current salary in University Park, FL to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to University Park, FL, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the University Park, FL salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$57,081$4,757$1,332$1,713
Renters$30,462$2,539$711$914
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in University Park, FL as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for University Park, FL homeowners, is $57,081. This would allow for a maximum of $1,332 per month to be spent on housing costs. For renters, the median monthly income is $30,462 which would result in a maximum of $711 to be spent on rental costs.

Florida Sales Tax

StateGeneral Sales TaxWith Max Surtax
Florida6%7.5%

Florida Income Tax

StateIncome Tax (Low)Income Tax (High)
Florida0%0%
When assessing the complete cost of living in University Park, FL, the Florida income tax and the Florida sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Florida maximum surtax is 7.5%, and the Florida sales tax is 6%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 0% to 0% in Florida.

Goods & Services

ItemUniversity ParkNational avg.Difference
Haircut $15.47$15.560.6%
Beauty Salon $61.93$36.1171.5%
Toothpaste $2.40$2.472.8%
Shampoo $0.98$0.961.2%
Movie $12.52$10.1323.7%
Bowling $6.65$4.7440.4%

Groceries

ItemUniversity ParkNational avg.Difference
Ground Beef $4.56$3.9814.5%
Fried Chicken $1.56$1.4111.1%
Milk $2.49$2.0620.7%
Potatoes $3.46$2.9816.1%
Pizza $8.99$9.475.1%
Beer $9.34$8.796.2%

Health Care

ItemUniversity ParkNational avg.Difference
Optometrist $96.00$101.045.0%
Doctor $95.56$107.4411.1%
Dentist $97.13$90.427.4%
Ibuprofen $11.13$9.2819.9%
Lipitor $415.12$426.502.7%

Housing

ItemUniversity ParkNational avg.Difference
Home Price $240,400.00$175,700.0036.8%
Avg. Mortgage Payment $1,272.27$1,133.2312.3%
Apartment Rent $1,166.00$920.0026.7%

Transportation

ItemUniversity ParkNational avg.Difference
Gasoline $2.05$1.992.7%
Tire Balancing $55.40$45.7621.1%

Utilities

ItemUniversity ParkNational avg.Difference
All Electricity$152.73$163.816.8%
Phone $30.33$28.396.9%
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.
Fisher Island, FL2401044%
Medley, FL94088-12%
Brownsville, FL14,83592-8%
Opa-locka, FL15,86792-8%
West Little River, FL31,22694-6%
University Park, FL26,30411313%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Rexburg, ID26,30195-5%
Kingsville, TX26,34883-17%
Wooster, OH26,35385-15%
Cornelius, NC26,2461088%
Paradise, CA26,24611010%
University Park, FL26,30411313%
Source: The University Park, FL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.