Big Pine Key, Florida Cost Of Living

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F

Overall 24%

Goods & Services 1%

Housing 73%

Date & Last Updated: This data reflects 2019 and was released from C2ER in January, 2020; 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	Big Pine Key	Florida	National
Cost of living	124	99	100
Goods & Services	99	99	100
Groceries	111	105	100
Health care	107	100	100
Housing	173	96	100
Transportation	112	98	100
Utilities	98	102	100

Key findings

The cost of living in Big Pine Key is 25% higher than the Florida average
The cost of living in Big Pine Key is 24% higher than the national average
Big Pine Key housing is 73% 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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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	$56,111	$4,676	$1,309	$1,683
Renters	$61,019	$5,085	$1,424	$1,831

A good way to judge both the affordability of the housing and the cost of living in Big Pine Key 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. Big Pine Key has a median income of about $56,111 for people who own homes. Based on that number, a maximum of $1,309 should be spent on expenses related to housing. Renters have a slightly different median income, which is $61,019. Based on this average, renters should spend no more than $1,424 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	Big Pine Key	National avg.	Difference
Haircut	$13.88	$17.49	20.6%
Beauty Salon	$58.60	$38.17	53.5%
Toothpaste	$2.12	$2.32	8.7%
Shampoo	$1.25	$1.01	23.5%
Movie	$13.77	$10.72	28.4%
Bowling	$22.83	$13.86	64.7%

Groceries

Item	Big Pine Key	National avg.	Difference
Ground Beef	$4.83	$3.90	23.8%
Fried Chicken	$1.61	$1.40	15.4%
Milk	$2.75	$1.96	40.1%
Potatoes	$3.87	$3.18	21.6%
Pizza	$8.99	$10.39	13.5%
Beer	$10.23	$9.23	10.8%

Health Care

Item	Big Pine Key	National avg.	Difference
Optometrist	$115.80	$106.34	8.9%
Doctor	$106.25	$115.25	7.8%
Dentist	$116.20	$98.38	18.1%
Ibuprofen	$11.42	$9.26	23.3%
Lipitor	$456.77	$466.47	2.1%

Housing

Item	Big Pine Key	National avg.	Difference
Home Price	$342,000.00	$184,700.00	85.2%
Avg. Mortgage Payment	$1,633.75	$1,273.32	28.3%
Apartment Rent	$1,370.00	$949.00	44.4%

Transportation

Item	Big Pine Key	National avg.	Difference
Gasoline	$2.57	$2.59	0.9%
Tire Balancing	$67.20	$48.90	37.4%

Utilities

Item	Big Pine Key	National avg.	Difference
All Electricity	$158.03	$167.60	5.7%
Phone	$185.34	$163.42	13.4%

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, State	Population	Cost of Living Index	National Avg.
Cudjoe Key, FL	1,812	133	33%
Big Pine Key, FL	4,902	124	24%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Brent, AL	4,902	80	-20%
Eagleton Village, TN	4,902	81	-19%
Cochran, GA	4,901	85	-15%
Travelers Rest, SC	4,903	95	-5%
Edenton, NC	4,900	96	-4%
Big Pine Key, FL	4,902	124	24%

Source: The Big Pine Key, FL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.

Big Pine Key, FL Cost of Living

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