Lakeland Highlands, FL Cost Of Living

Lakeland Highlands cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
Index	Lakeland Highlands	Florida	National
Cost of living index	107	99	100
Index	Lakeland Highlands	Florida	National
Goods & Services index	97	99	100
Groceries index	100	105	100
Health care index	98	98	100
Housing index	120	96	100
Transportation index	106	100	100
Utilities index	116	103	100

An overview of the general cost of living index for Lakeland Highlands, FL is displayed above for your reference. Residents in Lakeland Highlands, FL enjoy a cost of living index of 107. This index is 8% higher than the Florida average, and 7% higher than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Lakeland Highlands, FL, the average cost of goods and services is 2% lower than it is in Florida, and it is 3% lower than the national average.

Did you know?

The cost of living in Lakeland Highlands is 8% higher than the Florida average.
The cost of living in Lakeland Highlands is 7% higher than the national average.
The cost of housing in Lakeland Highlands is 20% 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.

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Salary Calculator

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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

The salary calculator is used in order to provide a comparison of your current salary in Lakeland Highlands, 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 Lakeland Highlands, FL, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Lakeland Highlands, 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

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$86,423	$7,202	$2,016	$2,593
Renters	$58,264	$4,855	$1,359	$1,748

How much of your monthly income goes to housing can tell you whether or not you can afford housing in Lakeland Highlands, FL, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Lakeland Highlands, FL homeowners have a median income of $86,423. Using that number, you will come up with a maximum of $2,016 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $58,264, which means there is a maximum of $1,359 to be spent on the costs of renting a home or apartment.

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%

When considering the overall cost of living expenses in Lakeland Highlands, 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

Item	Lakeland Highlands	National avg.	Difference
Haircut	$13.87	$16.09	13.8%
Beauty Salon	$34.72	$37.33	7.0%
Toothpaste	$2.71	$2.45	10.6%
Shampoo	$1.01	$1.00	0.9%
Movie	$11.59	$10.28	12.7%
Bowling	$6.14	$4.93	24.5%

Groceries

Item	Lakeland Highlands	National avg.	Difference
Ground Beef	$4.22	$3.80	11.0%
Fried Chicken	$1.42	$1.40	1.4%
Milk	$2.51	$2.01	25.0%
Potatoes	$3.63	$3.01	20.5%
Pizza	$9.19	$9.89	7.0%
Beer	$9.42	$8.90	5.9%

Health Care

Item	Lakeland Highlands	National avg.	Difference
Optometrist	$88.81	$102.16	13.1%
Doctor	$110.98	$108.36	2.4%
Dentist	$92.29	$92.53	0.3%
Ibuprofen	$9.14	$9.28	1.5%
Lipitor	$394.89	$425.82	7.3%

Housing

Item	Lakeland Highlands	National avg.	Difference
Home Price	$193,900.00	$184,700.00	5.0%
Avg. Mortgage Payment	$827.55	$1,202.44	31.2%
Apartment Rent	$1,468.00	$949.00	54.7%

Transportation

Item	Lakeland Highlands	National avg.	Difference
Gasoline	$2.15	$2.24	4.0%
Tire Balancing	$58.96	$46.29	27.4%

Utilities

Item	Lakeland Highlands	National avg.	Difference
All Electricity	$145.49	$165.96	12.3%
Phone	$43.34	$28.68	51.1%

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, State	Population	Cost of Living Index	National Avg.
Bradley Junction, FL	377	81	-19%
Mulberry, FL	3,925	84	-16%
Wahneta, FL	4,700	82	-18%
Combee Settlement, FL	6,462	85	-15%
Fort Meade, FL	5,883	85	-15%
Lakeland Highlands, FL	12,426	107	7%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Elk City, OK	12,426	90	-10%
Lakeland North, WA	12,420	123	23%
Ottawa, KS	12,433	88	-12%
Brookhaven, MS	12,418	84	-16%
New Providence, NJ	12,434	156	56%
Lakeland Highlands, FL	12,426	107	7%

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

Lakeland Highlands, FL Cost of Living