Ridge Wood Heights, Florida Cost Of Living

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C

Overall 2%

Goods & Services 2%

Housing 12%

Date & Last Updated: This data reflects 2020 and was released from C2ER in January, 2021; 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	Ridge Wood Heights	Florida	National
Cost of living	98	99	100
Goods & Services	102	98	100
Groceries	110	106	100
Health care	102	98	100
Housing	88	96	100
Transportation	107	101	100
Utilities	89	106	100

Key findings

The cost of living in Ridge Wood Heights is 1% lower than the Florida average
The cost of living in Ridge Wood Heights is 2% lower than the national average
Ridge Wood Heights housing is 12% 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

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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	$55,739	$4,645	$1,300	$1,672
Renters	$37,540	$3,128	$876	$1,126

The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Ridge Wood Heights, FL, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Ridge Wood Heights, homeowners have a median income of $55,739. Using that number, a maximum of $1,300 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $37,540, which means there is a maximum of $876 to be spent on the costs of renting a home or apartment.

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	Ridge Wood Heights	National avg.	Difference
Haircut	$23.81	$18.62	27.8%
Beauty Salon	$51.15	$39.05	31.0%
Toothpaste	$2.87	$2.34	22.4%
Shampoo	$1.02	$1.06	3.3%
Movie	$8.10	$10.68	24.2%
Bowling	$20.08	$14.67	36.9%

Groceries

Item	Ridge Wood Heights	National avg.	Difference
Ground Beef	$3.85	$4.22	8.8%
Fried Chicken	$2.11	$1.39	52.1%
Milk	$2.49	$2.05	21.7%
Potatoes	$5.11	$3.29	55.3%
Pizza	$10.51	$10.62	1.0%
Beer	$9.67	$9.38	3.0%

Health Care

Item	Ridge Wood Heights	National avg.	Difference
Optometrist	$115.19	$108.57	6.1%
Doctor	$114.50	$116.17	1.4%
Dentist	$102.32	$99.13	3.2%
Ibuprofen	$10.41	$9.68	7.5%
Lipitor	$474.39	$466.92	1.6%

Housing

Item	Ridge Wood Heights	National avg.	Difference
Home Price	$156,100.00	$184,700.00	15.5%
Avg. Mortgage Payment	$1,088.70	$1,197.42	9.1%
Apartment Rent	$918.00	$949.00	3.3%

Transportation

Item	Ridge Wood Heights	National avg.	Difference
Gasoline	$2.10	$2.22	5.7%
Tire Balancing	$67.21	$50.07	34.2%

Utilities

Item	Ridge Wood Heights	National avg.	Difference
All Electricity	$130.57	$167.67	22.1%
Phone	$188.41	$175.64	7.3%

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.
South Bradenton, FL	24,428	86	-14%
West Samoset, FL	6,836	87	-13%
Bayshore Gardens, FL	19,409	88	-12%
Samoset, FL	4,243	90	-10%
North Sarasota, FL	8,412	91	-9%
Ridge Wood Heights, FL	4,410	98	-2%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Wolverine Lake, MI	4,410	100	0%
North Terre Haute, IN	4,411	85	-15%
Summerville, GA	4,408	80	-20%
Maize, KS	4,414	94	-6%
Lindstrom, MN	4,406	100	0%
Ridge Wood Heights, FL	4,410	98	-2%

Source: The Ridge Wood Heights, FL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2020.