Southwest Ranches cost of living index

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 166, which is 67% higher than the Florida average and 66% 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 4% higher than the Florida average and 3% higher than the U.S. average.

Find Real Estate Listings In Southwest Ranches

New Real Estate Listings In Southwest Ranches

Real Estate Listings In Southwest Ranches

The best places in Florida

Salary Calculator

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

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

Florida Income Tax

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

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.

Nearby cities with low cost of living

Cities with similar population

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