Punta Gorda cost of living index

Here we can see a simple outline of the cost of living in Punta Gorda, FL. As you can see, with the average cost of living in Punta Gorda, FL being 110, that puts it 11% higher than the average of Florida and 10% higher than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Punta Gorda, FL, the price of goods and services are 5% lower than the average of Florida as well as 6% lower than the nation's average.

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Salary Calculator

The salary calculator is meant to help you compare your salary in Punta Gorda, FL to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Punta Gorda, FL, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Punta Gorda, FL salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

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 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, FL 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

Florida Income Tax

One thing to keep in mind when considering the cost of living in Punta Gorda, FL is the Florida sales tax and Florida income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Florida sales tax rate is 6% and the maximum surtax that can be charged is 7.5%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% 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.

Nearby cities with low cost of living

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Source: The Punta Gorda, FL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.