Southwest Ranches, FL Cost Of Living

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Southwest Ranches cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
Index	Southwest Ranches	Florida	National
Cost of living index	165	99	100
Index	Southwest Ranches	Florida	National
Goods & Services index	99	99	100
Groceries index	106	105	100
Health care index	100	100	100
Housing index	312	96	100
Transportation index	108	98	100
Utilities index	98	102	100

A general overview of the cost of living index for Southwest Ranches, FL is displayed above. In Southwest Ranches, FL, the overall cost of living index is 165, which is 66% higher than the Florida average and 65% higher than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Southwest Ranches, FL, the city's goods and services are 1% higher than the Florida average and 1% lower than the U.S. average.

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Did you know?

The cost of living in Southwest Ranches is 66% higher than the Florida average.
The cost of living in Southwest Ranches is 65% higher than the national average.
The cost of housing in Southwest Ranches is 212% 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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Salary Calculator

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Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

The salary calculator allows you to compare how much your current salary in Southwest Ranches, FL would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Southwest Ranches, FL, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Southwest Ranches, FL salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$93,599	$7,800	$2,184	$2,808
Renters	$45,455	$3,788	$1,061	$1,364

How much of your monthly income goes to housing can tell you whether or not you can afford housing in Southwest Ranches, FL, as well as what the average cost of living is. 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 payment and not more than 36 percent of income on all expenses and debts. In Southwest Ranches, FL homeowners have a median income of $93,599. Using that number, you will come up with a maximum of $2,184 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $45,455, which means there is a maximum of $1,061 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%

One thing to keep in mind when considering the cost of living in Southwest Ranches, FL is the Florida sales tax and Florida income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Florida sales tax rate is 6% and the maximum surtax that can be charged is 7.5%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Florida income tax rates range from 0% to 0%.

Goods & Services

Item	Southwest Ranches	National avg.	Difference
Haircut	$17.50	$17.49	0.1%
Beauty Salon	$55.00	$38.17	44.1%
Toothpaste	$2.28	$2.32	1.8%
Shampoo	$1.08	$1.01	6.7%
Movie	$13.05	$10.72	21.7%
Bowling	$20.57	$13.86	48.4%

Groceries

Item	Southwest Ranches	National avg.	Difference
Ground Beef	$3.49	$3.90	10.5%
Fried Chicken	$1.28	$1.40	8.3%
Milk	$2.68	$1.96	36.6%
Potatoes	$3.99	$3.18	25.4%
Pizza	$9.62	$10.39	7.4%
Beer	$10.09	$9.23	9.3%

Health Care

Item	Southwest Ranches	National avg.	Difference
Optometrist	$121.67	$106.34	14.4%
Doctor	$98.00	$115.25	15.0%
Dentist	$101.40	$98.38	3.1%
Ibuprofen	$11.49	$9.26	24.1%
Lipitor	$468.27	$466.47	0.4%

Housing

Item	Southwest Ranches	National avg.	Difference
Home Price	$585,900.00	$184,700.00	217.2%
Avg. Mortgage Payment	$1,905.30	$1,273.32	49.6%
Apartment Rent	$2,853.00	$949.00	200.6%

Transportation

Item	Southwest Ranches	National avg.	Difference
Gasoline	$2.51	$2.59	3.3%
Tire Balancing	$63.98	$48.90	30.9%

Utilities

Item	Southwest Ranches	National avg.	Difference
All Electricity	$158.03	$167.60	5.7%
Phone	$185.34	$163.42	13.4%

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.
Franklin Park, FL	1,039	89	-11%
Pembroke Park, FL	6,259	89	-11%
Opa-locka, FL	16,245	91	-9%
Lauderdale Lakes, FL	34,321	91	-9%
West Little River, FL	31,296	93	-7%
Southwest Ranches, FL	7,745	165	65%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Lander, WY	7,744	101	1%
Three Rivers, MI	7,743	77	-23%
Quincy, FL	7,743	86	-14%
Wading River, NY	7,742	145	45%
Princeton, IL	7,741	88	-12%
Southwest Ranches, FL	7,745	165	65%

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

Southwest Ranches, FL Cost of Living