Northdale cost of living index

An overview of the general cost of living index for Northdale, FL is displayed above for your reference. Residents in Northdale, FL enjoy a cost of living index of 104. This index is 5% higher than the Florida average, and 4% 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 Northdale, 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.

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Salary Calculator

Using the salary calculator lets you compare the salary you earn in Northdale, 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 Northdale, FL, you have to earn a higher income in order to still have the same standard of living. To operate the Northdale, 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 Northdale, 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 Northdale, FL homeowners, is $79,345. This would allow for a maximum of $1,851 per month to be spent on housing costs. For renters, the median monthly income is $52,166 which would result in a maximum of $1,217 to be spent on rental costs.

Florida Sales Tax

Florida Income Tax

The Florida sales tax and Florida income tax rates should definitely be considered when determining the overall cost of living in Northdale, FL. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Florida sales tax is 6% and the maximum surtax is 7.5%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all 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 Northdale, FL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.