Warm Mineral Springs 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.
IndexWarm Mineral SpringsFloridaNational
Cost of living index9499100
IndexWarm Mineral SpringsFloridaNational
Goods & Services index10699100
Groceries index117102100
Health care index11697100
Housing index6695100
Transportation index88100100
Utilities index103103100
An overview of the general cost of living index for Warm Mineral Springs, FL is displayed above for your reference. Residents in Warm Mineral Springs, FL enjoy a cost of living index of 94. This index is 5% lower than the Florida average, and 6% lower than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Warm Mineral Springs, FL, the average cost of goods and services is 7% higher than it is in Florida, and it is 6% higher than the national average.

Did you know?

  • The cost of living in Warm Mineral Springs is 5% lower than the Florida average.
  • The cost of living in Warm Mineral Springs is 6% lower than the national average.
  • The cost of housing in Warm Mineral Springs is 34% 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 Warm Mineral Springs, FL Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
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Cost of living index
Goods & Services index
Groceries index
Health care index
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The salary calculator is used in order to provide a comparison of your current salary in Warm Mineral Springs, 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 Warm Mineral Springs, FL, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Warm Mineral Springs, 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$42,888$3,574$1,001$1,287
Renters$49,635$4,136$1,158$1,489
If you want to find a good determining factor for the cost of living and the general affordability of housing in Warm Mineral Springs, 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 Warm Mineral Springs, FL, the median monthly income is $42,888 for those who own their own homes. Under the standard rule, that income level would allow for $1,001 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $49,635, per the median income in the area. That would allow for renters to spend up to $1,158 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%
When assessing the complete cost of living in Warm Mineral Springs, 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

ItemWarm Mineral SpringsNational 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

ItemWarm Mineral SpringsNational 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

ItemWarm Mineral SpringsNational 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

ItemWarm Mineral SpringsNational avg.Difference
Home Price $91,900.00$175,700.0047.7%
Avg. Mortgage Payment $1,137.02$1,133.230.3%
Apartment Rent $901.00$920.002.1%

Transportation

ItemWarm Mineral SpringsNational avg.Difference
Gasoline $2.01$1.990.7%
Tire Balancing $26.67$45.7641.7%

Utilities

ItemWarm Mineral SpringsNational 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.
Solana, FL43787-13%
Grove City, FL1,97594-6%
Charlotte Harbor, FL3,96992-8%
Nokomis, FL3,21896-4%
Port Charlotte, FL55,20693-7%
Warm Mineral Springs, FL5,45494-6%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Hazard, KY5,45392-8%
Bowling Green, MO5,45285-15%
Lake Fenton, MI5,4561022%
Scenic Oaks, TX5,45611515%
Berlin, WI5,45190-10%
Warm Mineral Springs, FL5,45494-6%
Source: The Warm Mineral Springs, FL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.