A+
6%
Overall NAT. AVG.
7%
Goods & Services NAT. AVG.
10%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; 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 Shady Hills Florida National
Cost of living9498100
Goods & Services9398100
Groceries10099100
Health care9296100
Housing9096100
Transportation10099100
Utilities9997100

An Overview of Cost of Living in Shady Hills, FL

Are you thinking about relocating, but curious about the potential cost of living in Shady Hills? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Shady Hills stands at 94, making it 6% lower than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

In Shady Hills, daily expenses such as food, housing, goods and services, transportation and health care are in line with comparable areas and about average when compared to all cities across the nation. This ensures that the cost of living in Shady Hills will resemble that of an average city, contributing to a manageable cost of living.

Is Shady Hills Affordable?

Is Shady Hills an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Shady Hills, the median home price is 12.7% lower than what most folks pay across the country, and monthly rent prices are 2.1% lower than the usual rates. Income levels in Shady Hills come in at $51,364, which is 7.2% lower than the national average.

What Factors can Influence the Cost of Living in Shady Hills?

Taxes: Cities that impose higher taxes, including sales and income taxes, can contribute to an escalated cost of living. The added expense of taxes on everyday goods like clothing and food naturally results in higher overall costs. Similarly, a higher income tax rate can further elevate the cost of living. In Shady Hills, the general sales tax rate starts at 6%, and income tax rates begin at 0%.

Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.

Transportation: When public transportation options are limited or non-existent, residents frequently resort to vehicle ownership, which can significantly contribute to the overall cost of living. Monthly financial obligations encompass fuel, insurance, regular maintenance and potentially lease or financing expenses. In Shady Hills, the transportation index is 0.4% higher than the national average.

Where is the Data From?

The cost of living in Shady Hills, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Shady Hills is 3% lower than the Florida average
  • The cost of living in Shady Hills is 6% lower than the national average
  • Shady Hills housing is 10% 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

Most Affordable Places to Live in and Around Shady Hills

See all the best places to live around Shady Hills

Compare Shady Hills, FL Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      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$59,977$4,998$1,399$1,799
      Renters$34,313$2,859$801$1,029
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Shady Hills, 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 Shady Hills, homeowners have a median income of $59,977. Using that number, a maximum of $1,399 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $34,313, which means there is a maximum of $801 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 Shady Hills National avg. Difference
      Haircut $15.67$24.2635.4%
      Beauty Salon $54.72$45.5620.1%
      Toothpaste $3.67$3.700.8%
      Shampoo $1.48$1.2815.3%
      Movie $8.61$12.1329.1%
      Bowling $19.67$18.009.3%

      Groceries

      Item Shady Hills National avg. Difference
      Ground Beef $6.06$5.843.8%
      Fried Chicken $1.48$1.575.7%
      Milk $4.56$4.672.3%
      Potatoes $5.34$4.938.1%
      Pizza $8.38$12.0930.6%
      Beer $10.69$10.412.6%

      Health Care

      Item Shady Hills National avg. Difference
      Optometrist $146.67$125.6816.7%
      Doctor $122.32$135.789.9%
      Dentist $103.33$113.298.8%
      Ibuprofen $10.74$10.650.8%
      Lipitor $523.90$468.6011.8%

      Housing

      Item Shady Hills National avg. Difference
      Home Price $161,200.00$184,700.0012.7%
      Avg. Mortgage Payment $1,846.50$2,346.6921.3%
      Apartment Rent $929.00$949.002.1%

      Transportation

      Item Shady Hills National avg. Difference
      Gasoline $3.42$3.461.0%
      Tire Balancing $57.28$59.924.4%

      Utilities

      Item Shady Hills National avg. Difference
      All Electricity $219.66$193.9913.2%
      Phone $194.37$192.251.1%
      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 Population Cost of Living Index National Avg.
      Bayport, FL0963.8%
      Pine Island, FL50963.8%
      Weeki Wachee, FL1963.8%
      Brooksville, FL8,3848317.4%
      Moon Lake, FL4,2348317.1%
      Shady Hills, FL12,078945.5%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Newcastle, WA12,07818685.8%
      Haverstraw, NY12,07612322.7%
      Riverview, MI12,085963.7%
      Port Salerno, FL12,0701088.1%
      Overlea, MD12,0631098.5%
      Shady Hills, FL12,078945.5%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.