A+
3%
Overall NAT. AVG.
5%
Goods & Services NAT. AVG.
18%
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 Lauderdale Lakes Florida National
Cost of living9798100
Goods & Services10598100
Groceries10499100
Health care9396100
Housing8296100
Transportation10199100
Utilities10397100

An Overview of Cost of Living in Lauderdale Lakes, FL

Are you thinking about relocating, but curious about the potential cost of living in Lauderdale Lakes? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Lauderdale Lakes stands at 97, making it 3% lower 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 Lauderdale Lakes closely mirrors the national average in comparison to other cities nationwide. Essential items such as groceries, goods and services, health care and utilities are priced at a level consistent with similar urban areas. This means that residents of Lauderdale Lakes can anticipate that their daily expenses will remain reasonably in line with those of an average city, contributing to a manageable cost of living.

Is Lauderdale Lakes Affordable?

Wondering if Lauderdale Lakes 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 Lauderdale Lakes, for example, the median home price is 33.8% lower than what folks pay nationally, and monthly rent is 18.3% higher than the usual rates. Plus, income levels matter too, with Lauderdale Lakes boasting a median household income of $36,103, which is 34.7% lower than the national average.

What Factors can Influence the Cost of Living in Lauderdale Lakes?

Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Lauderdale Lakes, the transportation index is 1.1% higher than the national average.

Housing: When there's a high demand for housing in trendy places, it can cause property prices and rental rates to soar, leading to a significantly higher cost of living. Conversely, in less desirable locations, where demand is low, prices tend to decrease, resulting in a more budget-friendly cost of living. In Lauderdale Lakes, the housing index is 18.1% lower than the national average.

Urbanization: Urban areas with a wealth of amenities and employment opportunities tend to come with a higher price tag for living. Why? Well, more people want to be there, which drives up home prices and rents. On the flip side, less densely populated rural areas or places where there's not as much demand usually mean fewer attractions, things to do and slower job growth. That often results in a lower cost of living.

Where is the Data From?

The cost of living in Lauderdale Lakes, 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 Lauderdale Lakes is 1% lower than the Florida average
  • The cost of living in Lauderdale Lakes is 3% lower than the national average
  • Lauderdale Lakes housing is 18% lower 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 Lauderdale Lakes

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Compare Lauderdale Lakes, 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$42,991$3,583$1,003$1,290
      Renters$29,582$2,465$690$888
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Lauderdale Lakes, 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 Lauderdale Lakes homeowners, is $42,991. This would allow for a maximum of $1,003 per month to be spent on housing costs. For renters, the median monthly income is $29,582 which would result in a maximum of $690 to be spent on rental 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 Lauderdale Lakes National avg. Difference
      Haircut $22.18$24.268.6%
      Beauty Salon $73.78$45.5661.9%
      Toothpaste $3.50$3.705.6%
      Shampoo $1.49$1.2816.0%
      Movie $13.42$12.1310.6%
      Bowling $23.13$18.0028.5%

      Groceries

      Item Lauderdale Lakes National avg. Difference
      Ground Beef $5.79$5.840.8%
      Fried Chicken $1.40$1.5711.2%
      Milk $4.58$4.672.0%
      Potatoes $5.27$4.936.8%
      Pizza $14.00$12.0915.8%
      Beer $11.23$10.417.9%

      Health Care

      Item Lauderdale Lakes National avg. Difference
      Optometrist $113.16$125.6810.0%
      Doctor $114.67$135.7815.5%
      Dentist $106.72$113.295.8%
      Ibuprofen $10.94$10.652.7%
      Lipitor $489.98$468.604.6%

      Housing

      Item Lauderdale Lakes National avg. Difference
      Home Price $122,300.00$184,700.0033.8%
      Avg. Mortgage Payment $3,476.17$2,346.6948.1%
      Apartment Rent $1,123.00$949.0018.3%

      Transportation

      Item Lauderdale Lakes National avg. Difference
      Gasoline $3.43$3.460.9%
      Tire Balancing $63.46$59.925.9%

      Utilities

      Item Lauderdale Lakes National avg. Difference
      All Electricity $200.94$193.993.6%
      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.
      Pembroke Park, FL6,7168910.9%
      Franklin Park, FL1,549981.7%
      Roosevelt Gardens, FL2,068991.0%
      Watergate, FL3,6581044.5%
      Lauderhill, FL71,8271044.5%
      Lauderdale Lakes, FL36,063973.2%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Wildomar, CA36,09113636.1%
      West Kelowna, BC36,030n/a 
      Franklin, WI36,01311110.9%
      Marion, OH36,0118613.9%
      Oakville, MO36,1171022.4%
      Lauderdale Lakes, FL36,063973.2%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.