Englewood cost of living index

A general overview of the cost of living index for Englewood, FL is displayed above. In Englewood, FL, the overall cost of living index is 102, which is 3% higher than the Florida average and 2% higher than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Englewood, FL, the city's goods and services are 15% higher than the Florida average and 14% higher than the U.S. average.

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Salary Calculator

Use the salary calculator to compare your current salary in Englewood, FL to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Englewood, FL, then you would need to earn more income in order to maintain the same standard of living. To use the Englewood, FL salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Englewood, FL as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Englewood, FL homeowners, is $47,966. This would allow for a maximum of $1,119 per month to be spent on housing costs. For renters, the median monthly income is $31,401 which would result in a maximum of $733 to be spent on rental costs.

Florida Sales Tax

Florida Income Tax

When considering the overall cost of living expenses in Englewood, FL, it's important to take into account the sales tax for Florida, as well as the rate for income tax in Florida. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for Florida is 7.5%, and the sales tax in the state of Florida is 6%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in Florida starts from 0% and goes up to 0%.

Goods & Services

Groceries

Health Care

Housing

Transportation

Utilities

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.

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Source: The Englewood, FL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.