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 Opa-locka, FL is displayed above for your reference. Residents in Opa-locka, 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 Opa-locka, FL, the average cost of goods and services is 3% higher than it is in Florida, and it is 1% higher than the national average.
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The cost of living in Opa-locka is 9% lower than the Florida average.
The cost of living in Opa-locka is 9% lower than the national average.
The cost of housing in Opa-locka is 38% 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 Opa-locka, 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 allows you to compare how much your current salary in Opa-locka, FL would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Opa-locka, FL, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Opa-locka, FL salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.
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 Opa-locka, 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 Opa-locka, FL have a median income of $42,044. Therefore, the amount that a consumer should spend on housing costs should be no more than $981 per month to avoid calamity and poverty. The renters in the city have an income of about $11,431, which would make their monthly maximum allowable rental costs $267.
Florida Sales Tax
General Sales Tax
With Max Surtax
Florida Income Tax
Income Tax (Low)
Income Tax (High)
For those who live in Opa-locka, FL and want to know what the true cost of living is, they ought to look at both the Florida income tax rate and the Florida sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Florida, the sales tax is 6%, while the most you'll pay in surtax is 7.5%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Florida, the income tax rate ranges between 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.