Punta Gorda, Florida Cost Of Living

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F

Overall 17%

Goods & Services 9%

Housing 41%

Date & Last Updated: This data reflects 2019 and was released from C2ER in January, 2020; this is the most current data available.

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Punta Gorda	Florida	National
Cost of living	117	99	100
Goods & Services	109	99	100
Groceries	111	105	100
Health care	108	100	100
Housing	141	96	100
Transportation	108	98	100
Utilities	97	102	100

Key findings

The cost of living in Punta Gorda is 18% higher than the Florida average
The cost of living in Punta Gorda is 17% higher than the national average
Punta Gorda housing is 41% higher 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

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$64,632	$5,386	$1,508	$1,939
Renters	$31,975	$2,665	$746	$959

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Punta Gorda, 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 Punta Gorda homeowners, is $64,632. This would allow for a maximum of $1,508 per month to be spent on housing costs. For renters, the median monthly income is $31,975 which would result in a maximum of $746 to be spent on rental costs.

Florida Sales Tax

State	General Sales Tax	With Max Surtax
Florida	6%	7.5%

Florida Income Tax

State	Income Tax (Low)	Income Tax (High)
Florida	0%	0%

Goods & Services

Item	Punta Gorda	National avg.	Difference
Haircut	$21.33	$17.49	22.0%
Beauty Salon	$23.67	$38.17	38.0%
Toothpaste	$2.05	$2.32	11.7%
Shampoo	$0.90	$1.01	11.1%
Movie	$12.89	$10.72	20.2%
Bowling	$18.67	$13.86	34.7%

Groceries

Item	Punta Gorda	National avg.	Difference
Ground Beef	$4.69	$3.90	20.3%
Fried Chicken	$1.89	$1.40	35.4%
Milk	$2.99	$1.96	52.4%
Potatoes	$3.89	$3.18	22.2%
Pizza	$11.18	$10.39	7.6%
Beer	$9.73	$9.23	5.4%

Health Care

Item	Punta Gorda	National avg.	Difference
Optometrist	$85.74	$106.34	19.4%
Doctor	$123.50	$115.25	7.2%
Dentist	$110.33	$98.38	12.1%
Ibuprofen	$11.34	$9.26	22.4%
Lipitor	$488.67	$466.47	4.8%

Housing

Item	Punta Gorda	National avg.	Difference
Home Price	$299,900.00	$184,700.00	62.4%
Avg. Mortgage Payment	$1,243.50	$1,273.32	2.3%
Apartment Rent	$860.00	$949.00	9.4%

Transportation

Item	Punta Gorda	National avg.	Difference
Gasoline	$2.69	$2.59	3.8%
Tire Balancing	$57.31	$48.90	17.2%

Utilities

Item	Punta Gorda	National avg.	Difference
All Electricity	$155.09	$167.60	7.5%
Phone	$185.04	$163.42	13.2%

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.

Nearby cities with low cost of living

City, State	Population	Cost of Living Index	National Avg.
Cleveland, FL	3,029	89	-11%
Solana, FL	577	91	-9%
Charlotte Harbor, FL	3,786	96	-4%
Warm Mineral Springs, FL	5,038	98	-2%
Port Charlotte, FL	58,001	98	-2%
Punta Gorda, FL	17,721	117	17%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Colonia, NJ	17,728	128	28%
Hannibal, MO	17,707	86	-14%
Marion, IL	17,703	88	-12%
Martha Lake, WA	17,703	142	42%
Tiffin, OH	17,701	86	-14%
Punta Gorda, FL	17,721	117	17%

Source: The Punta Gorda, FL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.

Punta Gorda, FL Cost of Living

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