Siesta Key, Florida Cost Of Living

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Overall 60%

Goods & Services 14%

Housing 175%

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	Siesta Key	Florida	National
Cost of living	160	99	100
Goods & Services	114	99	100
Groceries	120	105	100
Health care	117	100	100
Housing	275	96	100
Transportation	92	98	100
Utilities	106	102	100

Key findings

The cost of living in Siesta Key is 61% higher than the Florida average
The cost of living in Siesta Key is 60% higher than the national average
Siesta Key housing is 175% 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	$88,264	$7,355	$2,059	$2,648
Renters	$59,868	$4,989	$1,397	$1,796

A good indicator of the general affordability of housing in Siesta Key, FL, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Siesta Key, the median monthly income is $88,264 for those who own their own homes. Under the standard rule, that income level would allow for $2,059 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $59,868, per the median income in the area. That would allow for renters to spend up to $1,397 on monthly rental expenses.

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	Siesta Key	National avg.	Difference
Haircut	$14.11	$17.49	19.3%
Beauty Salon	$34.84	$38.17	8.7%
Toothpaste	$4.10	$2.32	76.4%
Shampoo	$0.96	$1.01	5.5%
Movie	$8.73	$10.72	18.6%
Bowling	$3.21	$13.86	76.8%

Groceries

Item	Siesta Key	National avg.	Difference
Ground Beef	$5.07	$3.90	30.1%
Fried Chicken	$1.72	$1.40	23.0%
Milk	$2.93	$1.96	49.1%
Potatoes	$3.80	$3.18	19.4%
Pizza	$8.55	$10.39	17.7%
Beer	$8.91	$9.23	3.4%

Health Care

Item	Siesta Key	National avg.	Difference
Optometrist	$114.72	$106.34	7.9%
Doctor	$154.87	$115.25	34.4%
Dentist	$94.94	$98.38	3.5%
Ibuprofen	$11.31	$9.26	22.1%
Lipitor	$443.12	$466.47	5.0%

Housing

Item	Siesta Key	National avg.	Difference
Home Price	$612,100.00	$184,700.00	231.4%
Avg. Mortgage Payment	$1,242.95	$1,273.32	2.4%
Apartment Rent	$1,345.00	$949.00	41.7%

Transportation

Item	Siesta Key	National avg.	Difference
Gasoline	$2.29	$2.59	11.8%
Tire Balancing	$32.86	$48.90	32.8%

Utilities

Item	Siesta Key	National avg.	Difference
All Electricity	$153.91	$167.60	8.2%
Phone	$34.98	$163.42	78.6%

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	92	-8%
West Samoset, FL	6,836	93	-7%
Bayshore Gardens, FL	19,409	94	-6%
Samoset, FL	4,243	96	-4%
North Sarasota, FL	8,412	96	-4%
Siesta Key, FL	5,782	160	60%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Laie, HI	5,782	185	85%
Palermo, CA	5,783	108	8%
Hingham, MA	5,777	183	83%
Sandersville, GA	5,776	85	-15%
Robertsdale, AL	5,776	95	-5%
Siesta Key, FL	5,782	160	60%

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

Siesta Key, FL Cost of Living

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