Valrico 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.
IndexValricoFloridaNational
Cost of living index104100100
IndexValricoFloridaNational
Goods & Services index96101100
Groceries index99105100
Health care index9197100
Housing index11995100
Transportation index102105100
Utilities index103102100
The above illustration supplies generalized information for the Valrico, FL cost of living index. Compared to other cities in Florida and cities across the country, the cost of living index in Valrico, FL is 104, which is 4% higher than the Florida average and 4% higher 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 Valrico, 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 Valrico is 4% higher than the Florida average.
  • The cost of living in Valrico is 4% higher than the national average.
  • The cost of housing in Valrico is 19% 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 Valrico, FL Cost of living To Other Cities

Salary Calculator

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Health care index
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The salary calculator is used in order to provide a comparison of your current salary in Valrico, 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 Valrico, FL, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Valrico, 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$78,097$6,508$1,822$2,343
Renters$56,587$4,716$1,320$1,698
The affordability of the housing market in Valrico, FL as well as the overall cost of living can be indicated accurately 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 ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Valrico, FL homeowners, the median income is $78,097. This indicates that a monthly maximum of $1,822 should be spent by homeowners on all housing related costs. Renters have a median income of $56,587. This indicates that renters should have a maximum of $1,320 used for their rent related monthly costs.

Florida Sales Tax

StateGeneral Sales TaxWith Max Surtax
Florida6%7.5%

Florida Income Tax

StateIncome Tax (Low)Income Tax (High)
Florida0%0%
The Florida sales tax and Florida income tax rates should definitely be considered when determining the overall cost of living in Valrico, 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

ItemValricoNational 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

ItemValricoNational 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

ItemValricoNational 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

ItemValricoNational avg.Difference
Home Price $190,900.00$175,700.008.7%
Avg. Mortgage Payment $774.61$1,081.0328.3%
Apartment Rent $1,314.00$920.0042.8%

Transportation

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

Utilities

ItemValricoNational 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.
University, FL41,73286-14%
Kathleen, FL6,38588-12%
East Lake-Orient Park, FL23,99588-12%
Mango, FL12,06289-11%
Dover, FL4,28489-11%
Valrico, FL36,6031044%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Longview, WA36,5891077%
Gadsden, AL36,62179-21%
Los Banos, CA36,6261044%
Braintree Town, MA36,54314545%
Richmond, IN36,52775-25%
Valrico, FL36,6031044%
Source: The Valrico, FL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.