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.
An overview of the general cost of living index for Okeechobee, FL is displayed above for your reference. Residents in Okeechobee, FL enjoy a cost of living index of 91. This index is 9% lower than the Florida average, and 9% lower 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 Okeechobee, FL, the average cost of goods and services is 1% higher than it is in Florida, and it is equal to the national average.
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The cost of living in Okeechobee is 9% lower than the Florida average.
The cost of living in Okeechobee is 9% lower than the national average.
The cost of housing in Okeechobee is 41% 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.
Compare Okeechobee, FL Cost of living To Other Cities
This is how much you would need to earn in Price difference in compared to
Cost of living index
Goods & Services index
Health care index
The salary calculator is used in order to provide a comparison of your current salary in Okeechobee, 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 Okeechobee, FL, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Okeechobee, 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
Max Budget (28% DTI)
Max Budget (36% DTI)
One can approximate the cost of living and the housing affordability in Okeechobee, FL by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Okeechobee, FL have a median income of $44,250. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,032 per month to avoid calamity and poverty. The renters in the city have an income of about $25,368, which would make their monthly maximum allowable rental costs $592.
Florida Sales Tax
General Sales Tax
With Max Surtax
Florida Income Tax
Income Tax (Low)
Income Tax (High)
When you are determining the total cost of living in Okeechobee, 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
Avg. Mortgage Payment
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.