Cape Coral, Florida Cost Of Living

B+

4%

Overall NAT. AVG.

5%

Goods & Services NAT. AVG.

0%

Housing NAT. AVG.

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2023; 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	Cape Coral	Florida	National
Cost of living	104	99	100
Goods & Services	105	99	100
Groceries	108	105	100
Health care	104	97	100
Housing	100	96	100
Transportation	108	99	100
Utilities	103	101	100

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Cost Of Living Quick Facts

The cost of living in Cape Coral is 5% higher than the Florida average
The cost of living in Cape Coral is 4% higher than the national average
Cape Coral housing is equal to 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	$68,907	$5,742	$1,608	$2,067
Renters	$47,258	$3,938	$1,103	$1,418

To approximate the cost of living and the housing affordability in Cape Coral, FL, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Cape Coral have a median income of $68,907. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,608 per month to avoid calamity and poverty. The renters in the city have an income of about $47,258, which would make their monthly maximum allowable rental costs $1,103.

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	Cape Coral	National avg.	Difference
Haircut	$25.00	$22.08	13.2%
Beauty Salon	$50.60	$42.88	18.0%
Toothpaste	$4.78	$2.57	86.3%
Shampoo	$1.05	$1.15	9.3%
Movie	$12.05	$11.51	4.8%
Bowling	$19.33	$16.62	16.4%

Groceries

Item	Cape Coral	National avg.	Difference
Ground Beef	$5.60	$4.98	12.3%
Fried Chicken	$2.34	$1.58	47.9%
Milk	$2.55	$2.42	5.5%
Potatoes	$3.93	$3.54	11.2%
Pizza	$10.66	$11.49	7.2%
Beer	$11.27	$10.04	12.2%

Health Care

Item	Cape Coral	National avg.	Difference
Optometrist	$96.64	$117.76	17.9%
Doctor	$127.67	$125.34	1.9%
Dentist	$112.88	$107.52	5.0%
Ibuprofen	$11.72	$10.26	14.3%
Lipitor	$495.49	$459.24	7.9%

Housing

Item	Cape Coral	National avg.	Difference
Home Price	$237,400.00	$184,700.00	28.5%
Avg. Mortgage Payment	$1,952.20	$1,697.41	15.0%
Apartment Rent	$1,367.00	$949.00	44.0%

Transportation

Item	Cape Coral	National avg.	Difference
Gasoline	$3.86	$3.85	0.4%
Tire Balancing	$70.12	$57.01	23.0%

Utilities

Item	Cape Coral	National avg.	Difference
All Electricity	$182.94	$177.27	3.2%
Phone	$195.37	$189.62	3.0%

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.
Pine Manor, FL	4,582	85	15.0%
Suncoast Estates, FL	4,759	86	14.1%
Tice, FL	5,379	87	12.9%
North Fort Myers, FL	42,315	89	10.8%
Harlem Heights, FL	1,362	91	9.3%
Cape Coral, FL	189,633	104	3.8%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Shreveport, LA	189,890	93	6.8%
Mobile, AL	189,994	86	13.7%
Frisco, TX	188,387	128	27.8%
McKinney, TX	191,197	118	18.3%
Tempe, AZ	191,607	102	2.2%
Cape Coral, FL	189,633	104	3.8%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2023; this is the most current data available.