Cost Of Living in Southwest Ranches, FL

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F

70%

Overall NAT. AVG.

5%

Goods & Services NAT. AVG.

227%

Housing NAT. AVG.

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	Southwest Ranches	Florida	National
Cost of living	170	98	100
Goods & Services	105	98	100
Groceries	104	99	100
Health care	93	96	100
Housing	327	96	100
Transportation	101	99	100
Utilities	103	97	100

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Cost Of Living Quick Facts

The cost of living in Southwest Ranches is 74% higher than the Florida average
The cost of living in Southwest Ranches is 70% higher than the national average
Southwest Ranches housing is 227% 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	$139,083	$11,590	$3,245	$4,173
Renters	$94,018	$7,835	$2,194	$2,821

The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Southwest Ranches, 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 Southwest Ranches, homeowners have a median income of $139,083. Using that number, a maximum of $3,245 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $94,018, which means there is a maximum of $2,194 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	Southwest Ranches	National avg.	Difference
Haircut	$22.18	$24.26	8.6%
Beauty Salon	$73.78	$45.56	61.9%
Toothpaste	$3.50	$3.70	5.6%
Shampoo	$1.49	$1.28	16.0%
Movie	$13.42	$12.13	10.6%
Bowling	$23.13	$18.00	28.5%

Groceries

Item	Southwest Ranches	National avg.	Difference
Ground Beef	$5.79	$5.84	0.8%
Fried Chicken	$1.40	$1.57	11.2%
Milk	$4.58	$4.67	2.0%
Potatoes	$5.27	$4.93	6.8%
Pizza	$14.00	$12.09	15.8%
Beer	$11.23	$10.41	7.9%

Health Care

Item	Southwest Ranches	National avg.	Difference
Optometrist	$113.16	$125.68	10.0%
Doctor	$114.67	$135.78	15.5%
Dentist	$106.72	$113.29	5.8%
Ibuprofen	$10.94	$10.65	2.7%
Lipitor	$489.98	$468.60	4.6%

Housing

Item	Southwest Ranches	National avg.	Difference
Home Price	$670,100.00	$184,700.00	262.8%
Avg. Mortgage Payment	$3,476.17	$2,346.69	48.1%
Apartment Rent	$2,311.00	$949.00	143.5%

Transportation

Item	Southwest Ranches	National avg.	Difference
Gasoline	$3.43	$3.46	0.9%
Tire Balancing	$63.46	$59.92	5.9%

Utilities

Item	Southwest Ranches	National avg.	Difference
All Electricity	$200.94	$193.99	3.6%
Phone	$194.37	$192.25	1.1%

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.
Pembroke Park, FL	6,716	89	10.9%
Lauderdale Lakes, FL	36,063	97	3.2%
Franklin Park, FL	1,549	98	1.7%
Roosevelt Gardens, FL	2,068	99	1.0%
Opa-locka, FL	16,008	101	0.7%
Southwest Ranches, FL	7,947	170	70.3%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Travelers Rest, SC	7,947	100	0.3%
Vandenberg Village, CA	7,945	144	43.6%
Woodland Park, CO	7,943	125	25.4%
Bainbridge, OH	7,951	136	36.2%
Gilberts, IL	7,941	116	15.8%
Southwest Ranches, FL	7,947	170	70.3%