Palm Coast cost of living index

An overview of the general cost of living index for Palm Coast, FL is displayed above for your reference. Residents in Palm Coast, FL enjoy a cost of living index of 98. This index is 1% lower than the Florida average, and 2% 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 Palm Coast, FL, the average cost of goods and services is 5% lower than it is in Florida, and it is 6% lower than the national average.

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Salary Calculator

The salary calculator allows you to compare how much your current salary in Palm Coast, 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 Palm Coast, FL, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Palm Coast, 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

A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Palm Coast, FL, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Palm Coast, FL has a median income of about $51,439 for people who own homes. Based on that number, a person should spend a maximum of $1,200 on expenses related to housing. Renters have a slightly different median income, which is $40,236. Based on this average, renters should spend no more than $939 on all of their rental costs if they want to maintain a non-impoverished standard of living.

Florida Sales Tax

Florida Income Tax

When assessing the complete cost of living in Palm Coast, 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 Palm Coast, FL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.