New Port Richey cost of living index

A general summary of the cost of living index in New Port Richey, FL is shown above. Compared to the state average of Florida the cost of living index in New Port Richey, FL is 86, which is 14% lower than the average in Florida and compared to the national average it is 14% lower than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In New Port Richey, FL goods and services come in at 2% lower than the average in Florida and are 3% lower than compared to the nationwide average.

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Salary Calculator

Using the salary calculator lets you compare the salary you earn in New Port Richey, 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 New Port Richey, FL, you have to earn a higher income in order to still have the same standard of living. To operate the New Port Richey, 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

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in New Port Richey, 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 New Port Richey, FL homeowners, is $35,821. This would allow for a maximum of $836 per month to be spent on housing costs. For renters, the median monthly income is $26,142 which would result in a maximum of $610 to be spent on rental costs.

Florida Sales Tax

Florida Income Tax

When you are determining the total cost of living in New Port Richey, FL you will want to make sure you consider both the Florida sales tax and the Florida income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Florida is 6%, with the highest surtax being 7.5%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Florida have a 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 New Port Richey, FL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.