An Overview of Cost of Living in Immokalee, FL
Knowing the cost of living in Immokalee allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Immokalee stands at 95, marking it 5% lower than the national average.
Everyday expenditures like food, housing, goods and services, transportation and health care in Immokalee are priced in a manner consistent with other areas. This means that residents of Immokalee can anticipate their daily expenses remaining reasonably similar to those in an average city, thereby supporting a manageable cost of living.
Is Immokalee Affordable?
Is Immokalee an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Immokalee is 25.3% lower than the national average, while the average monthly rent prices are 18.7% lower than average. The affordability of any location can also be influenced by median income levels. Immokalee has a median household income of $33,249, which is 39.9% lower than the national average.
What Factors can Influence the Cost of Living in Immokalee?
Healthcare: Healthcare costs and insurance premiums can fluctuate greatly based on the city or state. Access to healthcare facilities, out-of-pocket expenses for doctor\’s visits, dentist costs, medication costs and specialized care costs can all impact the cost of living. In Immokalee, the healthcare costs are 7.5% higher than the national average.
Transportation: In areas where public transportation is scarce or unavailable, residents often find themselves compelled to own and upkeep vehicles, thereby increasing the overall cost of living. Monthly expenses encompass fuel, insurance, routine maintenance and potentially lease or financing payments. In Immokalee, the transportation index is 7.4% higher than the national average.
Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Immokalee, the groceries index is 1.1% lower than the national average.
Where is the Data From?
The Immokalee cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.
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