Punta Gorda, FL Cost Of Living

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Punta Gorda cost of living index

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.
Index	Punta Gorda	Florida	National
Cost of living index	117	99	100
Index	Punta Gorda	Florida	National
Goods & Services index	109	99	100
Groceries index	111	105	100
Health care index	108	100	100
Housing index	141	96	100
Transportation index	108	98	100
Utilities index	97	102	100

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 117, that puts it 18% higher than the average of Florida and 17% 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 10% higher than the average of Florida as well as 9% higher than the nation's average.

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Did you know?

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.
The cost of housing in Punta Gorda 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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Compare Punta Gorda, FL Cost of living To Other Cities

Salary Calculator

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

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

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, 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

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

Florida Income Tax

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

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

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%
Martha Lake, WA	17,703	142	42%
Marion, IL	17,703	88	-12%
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