Kenneth City cost of living index

The above illustration supplies generalized information for the Kenneth City, FL cost of living index. Compared to other cities in Florida and cities across the country, the cost of living index in Kenneth City, FL is 92, which is 8% lower than the Florida average and 8% lower than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Kenneth City, FL are 2% lower than the average for Florida and 3% lower than the rest of the country.

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Salary Calculator

The salary calculator is used in order to provide a comparison of your current salary in Kenneth City, FL to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Kenneth City, FL, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Kenneth City, FL salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

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 Kenneth City, 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 Kenneth City, FL homeowners, is $46,375. This would allow for a maximum of $1,082 per month to be spent on housing costs. For renters, the median monthly income is $32,656 which would result in a maximum of $762 to be spent on rental costs.

Florida Sales Tax

Florida Income Tax

One thing to keep in mind when considering the cost of living in Kenneth City, FL is the Florida sales tax and Florida income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Florida sales tax rate is 6% and the maximum surtax that can be charged is 7.5%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Florida income tax rates range from 0% 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 Kenneth City, FL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.