South Pasadena cost of living index

A general summary of the cost of living index in South Pasadena, FL is shown above. Compared to the state average of Florida the cost of living index in South Pasadena, FL is 101, which is 2% higher than the average in Florida and compared to the national average it is 1% higher than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In South Pasadena, FL goods and services come in at 2% lower than the average in Florida and are 3% lower than compared to the nationwide average.

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Salary Calculator

Using the salary calculator lets you compare the salary you earn in South Pasadena, FL to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in South Pasadena, FL, you have to earn a higher income in order to still have the same standard of living. To operate the South Pasadena, FL salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

One can approximate the cost of living and the housing affordability in South Pasadena, FL by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in South Pasadena, FL have a median income of $39,943. Therefore, the amount that a consumer should spend on housing costs should be no more than $932 per month to avoid calamity and poverty. The renters in the city have an income of about $25,556, which would make their monthly maximum allowable rental costs $596.

Florida Sales Tax

Florida Income Tax

When you are determining the total cost of living in South Pasadena, FL you will want to make sure you consider both the Florida sales tax and the Florida income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Florida is 6%, with the highest surtax being 7.5%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Florida have a 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.

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