A
4%
Overall NAT. AVG.
7%
Goods & Services NAT. AVG.
22%
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 Clearwater Florida National
Cost of living10498100
Goods & Services9398100
Groceries10099100
Health care9296100
Housing12296100
Transportation10099100
Utilities9997100

An Overview of Cost of Living in Clearwater, FL

Are you thinking about relocating, but curious about the potential cost of living in Clearwater? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Clearwater stands at 104, making it 4% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

The cost of living in Clearwater aligns closely with the national average when compared to other cities across the nation. Everyday essentials such as groceries, goods and services, health care and utility bills are priced at a level consistent with the average in similar urban areas. Clearwater residents can anticipate that their daily expenses won't be significantly higher than those in an average city, ensuring that the cost of living remains manageable.

When it comes to the cost of living in Clearwater, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 22.4% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.

What Do Locals Say About the Cost of Living in Clearwater?

The most insightful perspective on a city comes from its residents. We recently surveyed 7 locals to gauge their perception of the cost of living in Clearwater. The feedback revealed that 43% of respondents found the cost of living to be reasonable, with prices on the decline, while 57% regarded it as notably expensive with prices that continue to rise.

Is Clearwater Affordable?

Wondering if Clearwater is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Clearwater, for example, the median home price is 22.1% higher than what folks pay nationally, and monthly rent is 23% higher than the usual rates. Plus, income levels matter too, with Clearwater boasting a median household income of $50,335, which is 9% lower than the national average.

What Factors can Influence the Cost of Living in Clearwater?

Transportation: When public transportation options are limited or non-existent, residents frequently resort to vehicle ownership, which can significantly contribute to the overall cost of living. Monthly financial obligations encompass fuel, insurance, regular maintenance and potentially lease or financing expenses. In Clearwater, the transportation index is 0.4% higher than the national average.

Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Clearwater, healthcare costs are 8% 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.

Where is the Data From?

The cost of living in Clearwater, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Clearwater is 7% higher than the Florida average
  • The cost of living in Clearwater is 4% higher than the national average
  • Clearwater housing is 22% 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

Most Affordable Places to Live in and Around Clearwater

See all the best places to live around Clearwater

Compare Clearwater, FL Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      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$62,457$5,205$1,457$1,874
      Renters$37,805$3,150$882$1,134
      The affordability of the housing market in Clearwater, FL as well as the overall cost of living can be predicted 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 be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Clearwater homeowners, the median income is $62,457. This indicates that a monthly maximum of $1,457 should be spent by homeowners on all housing related costs. Renters have a median income of $37,805. This indicates that renters would have a maximum of $882 for their rent related monthly costs.

      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 Clearwater National avg. Difference
      Haircut $15.67$24.2635.4%
      Beauty Salon $54.72$45.5620.1%
      Toothpaste $3.67$3.700.8%
      Shampoo $1.48$1.2815.3%
      Movie $8.61$12.1329.1%
      Bowling $19.67$18.009.3%

      Groceries

      Item Clearwater National avg. Difference
      Ground Beef $6.06$5.843.8%
      Fried Chicken $1.48$1.575.7%
      Milk $4.56$4.672.3%
      Potatoes $5.34$4.938.1%
      Pizza $8.38$12.0930.6%
      Beer $10.69$10.412.6%

      Health Care

      Item Clearwater National avg. Difference
      Optometrist $146.67$125.6816.7%
      Doctor $122.32$135.789.9%
      Dentist $103.33$113.298.8%
      Ibuprofen $10.74$10.650.8%
      Lipitor $523.90$468.6011.8%

      Housing

      Item Clearwater National avg. Difference
      Home Price $225,600.00$184,700.0022.1%
      Avg. Mortgage Payment $1,846.50$2,346.6921.3%
      Apartment Rent $1,167.00$949.0023.0%

      Transportation

      Item Clearwater National avg. Difference
      Gasoline $3.42$3.461.0%
      Tire Balancing $57.28$59.924.4%

      Utilities

      Item Clearwater National avg. Difference
      All Electricity $219.66$193.9913.2%
      Phone $194.37$192.251.1%
      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.
      South Highpoint, FL5,8448812.5%
      Lealman, FL21,621909.6%
      West Lealman, FL14,304919.4%
      Largo, FL84,666936.6%
      Pinellas Park, FL53,486972.8%
      Clearwater, FL115,9751044.1%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Brandon, FL115,9091043.5%
      College Station, TX115,8021055.0%
      Fairfield, CA116,54415049.7%
      West Jordan, UT115,18112020.2%
      Springfield, IL115,0758811.5%
      Clearwater, FL115,9751044.1%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.