A+
11%
Overall NAT. AVG.
7%
Goods & Services NAT. AVG.
31%
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 West Vero Corridor Florida National
Cost of living8998100
Goods & Services9398100
Groceries9999100
Health care9796100
Housing6996100
Transportation9899100
Utilities10997100

An Overview of Cost of Living in West Vero Corridor, FL

Getting a feel for the cost of living in West Vero Corridor is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in West Vero Corridor is 89, which is 11% lower than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

Is West Vero Corridor Affordable?

Is West Vero Corridor an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in West Vero Corridor, the median home price is 52.5% lower than what most folks pay across the country, and monthly rent prices are 18.1% higher than the usual rates. Income levels in West Vero Corridor come in at $48,083, which is 13.1% lower than the national average.

What Factors can Influence the Cost of Living in West Vero Corridor?

Housing: When there's a high demand for housing in trendy places, it can cause property prices and rental rates to soar, leading to a significantly higher cost of living. Conversely, in less desirable locations, where demand is low, prices tend to decrease, resulting in a more budget-friendly cost of living. In West Vero Corridor, the housing index is 31.3% lower than the national average.

Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Regions with limited subsidy provisions may witness an increase in their overall cost of living.

Utilities: Similar to the prices of any other goods or services, utility expenditures can exhibit substantial variability, influenced by factors such as climate, energy sources accessibility, geographical location and state regulations. Costs related to electricity, water, heating, and waste disposal can fluctuate, whether higher or lower, contingent on the city or state. In West Vero Corridor, the utilities index is 8.7% higher than the national average.

Where is the Data From?

The cost of living data in West Vero Corridor displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

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Cost Of Living Quick Facts

  • The cost of living in West Vero Corridor is 9% lower than the Florida average
  • The cost of living in West Vero Corridor is 11% lower than the national average
  • West Vero Corridor housing is 31% 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 West Vero Corridor

See all the best places to live around West Vero Corridor

Compare West Vero Corridor, FL Cost of Living

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      Salary Calculator

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      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$47,406$3,951$1,106$1,422
      Renters$49,119$4,093$1,146$1,474
      A good way to judge both the affordability of the housing and the cost of living in West Vero Corridor is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. West Vero Corridor has a median income of about $47,406 for people who own homes. Based on that number, a maximum of $1,106 should be spent on expenses related to housing. Renters have a slightly different median income, which is $49,119. Based on this average, renters should spend no more than $1,146 on all rental costs if they want to maintain a non-impoverished standard of living.

      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 West Vero Corridor National avg. Difference
      Haircut $21.00$24.2613.4%
      Beauty Salon $56.83$45.5624.7%
      Toothpaste $3.68$3.700.6%
      Shampoo $1.32$1.283.1%
      Movie $13.10$12.137.9%
      Bowling $14.75$18.0018.1%

      Groceries

      Item West Vero Corridor National avg. Difference
      Ground Beef $5.85$5.840.2%
      Fried Chicken $1.45$1.578.0%
      Milk $4.52$4.673.2%
      Potatoes $5.38$4.939.0%
      Pizza $12.62$12.094.4%
      Beer $10.69$10.412.6%

      Health Care

      Item West Vero Corridor National avg. Difference
      Optometrist $78.20$125.6837.8%
      Doctor $139.80$135.783.0%
      Dentist $132.83$113.2917.3%
      Ibuprofen $10.32$10.653.1%
      Lipitor $526.92$468.6012.4%

      Housing

      Item West Vero Corridor National avg. Difference
      Home Price $87,700.00$184,700.0052.5%
      Avg. Mortgage Payment $2,007.04$2,346.6914.5%
      Apartment Rent $1,121.00$949.0018.1%

      Transportation

      Item West Vero Corridor National avg. Difference
      Gasoline $3.45$3.460.5%
      Tire Balancing $54.85$59.928.5%

      Utilities

      Item West Vero Corridor National avg. Difference
      All Electricity $144.67$193.9925.4%
      Phone $196.14$192.252.0%
      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.
      Windsor, FL377982.4%
      Fort Pierce North, FL7,1998713.4%
      Fellsmere, FL5,6928812.2%
      Gifford, FL4,4818812.1%
      Fort Pierce, FL45,855928.4%
      West Vero Corridor, FL10,5078911.1%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Storm Lake, IA10,508927.8%
      Alpine, UT10,50916968.6%
      Oregon, WI10,51311615.9%
      Wyomissing, PA10,49911616.2%
      Timberlane, LA10,498972.6%
      West Vero Corridor, FL10,5078911.1%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.