Lauderhill cost of living index

Here we can see a simple outline of the cost of living in Lauderhill, FL. As you can see, with the average cost of living in Lauderhill, FL being 94, that puts it 5% lower than the average of Florida and 6% lower than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Lauderhill, FL, the price of goods and services are 4% higher than the average of Florida as well as 3% higher than the nation's average.

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Salary Calculator

Using the salary calculator lets you compare the salary you earn in Lauderhill, FL to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Lauderhill, FL, you have to earn a higher income in order to still have the same standard of living. To operate the Lauderhill, FL salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

How much of your monthly income goes to housing can tell you whether or not you can afford housing in Lauderhill, 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 Lauderhill, FL homeowners have a median income of $48,295. Using that number, you will come up with a maximum of $1,127 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $30,059, which means there is a maximum of $701 to be spent on the costs of renting a home or apartment.

Florida Sales Tax

Florida Income Tax

When assessing the complete cost of living in Lauderhill, FL, the Florida income tax and the Florida sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Florida maximum surtax is 7.5%, and the Florida sales tax is 6%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 0% to 0% in Florida.

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