A+
4%
Overall NAT. AVG.
7%
Goods & Services NAT. AVG.
21%
Housing NAT. AVG.
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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 St. Petersburg Florida National
Cost of living10498100
Goods & Services9398100
Groceries10099100
Health care9296100
Housing12196100
Transportation10099100
Utilities9997100

An Overview of Cost of Living in St. Petersburg, FL

Getting a feel for the cost of living in St. Petersburg is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in St. Petersburg is 104, which is 4% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

The cost of living in St. Petersburg aligns closely with the national average when compared to other cities across the nation. Everyday essentials such as groceries, goods and services, health care and utility bills are priced at a level consistent with the average in similar urban areas. St. Petersburg residents can anticipate that their daily expenses won't be significantly higher than those in an average city, ensuring that the cost of living remains manageable.

Housing costs are a very significant part of the St. Petersburg cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 21.4% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.

What Do Locals Say About the Cost of Living in St. Petersburg?

When it comes to knowing a city, its residents are the experts. We conducted a survey with 24 locals to understand their opinions on the cost of living in St. Petersburg. The results indicated that 46% found it reasonably priced with decreasing prices of goods and services, while 54% viewed it as quite expensive, with increasing prices.

Is St. Petersburg Affordable?

Is St. Petersburg an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in St. Petersburg, the median home price is 20.7% higher than what most folks pay across the country, and monthly rent prices are 23.1% higher than the usual rates. Income levels in St. Petersburg come in at $60,798, which is 9.9% higher than the national average.

What Factors can Influence the Cost of Living in St. Petersburg?

Subsidies: Certain cities or states may implement government subsidies or assistance programs with the goal of alleviating the cost of living pressures on their residents. These programs encompass a broad spectrum of support mechanisms, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas offering fewer subsidies may experience a rise in their cost of living.

Taxes: Cities that enforce higher taxes, covering both sales taxes and income taxes, can be a factor contributing to a higher cost of living. Paying more in taxes for everyday essentials like clothing and food inevitably leads to higher expenses. A higher income tax rate can further contribute to an overall elevated cost of living. In St. Petersburg, the baseline sales tax rate begins at 6%, and income tax rates start at 0%.

Utilities: Similar to the prices of any other goods or services, utility expenditures can exhibit substantial variability, influenced by factors such as climate, energy sources accessibility, geographical location and state regulations. Costs related to electricity, water, heating, and waste disposal can fluctuate, whether higher or lower, contingent on the city or state. In St. Petersburg, the utilities index is 1.1% lower than the national average.

Where is the Data From?

The St. Petersburg cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in St. Petersburg is 6% higher than the Florida average
  • The cost of living in St. Petersburg is 4% higher than the national average
  • St. Petersburg housing is 21% 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

Most Affordable Places to Live in and Around St. Petersburg

See all the best places to live around St. Petersburg

Compare St. Petersburg, FL Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      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$75,915$6,326$1,771$2,278
      Renters$44,373$3,698$1,035$1,331
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in St. Petersburg, 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 St. Petersburg, homeowners have a median income of $75,915. Using that number, a maximum of $1,771 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $44,373, which means there is a maximum of $1,035 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 St. Petersburg National avg. Difference
      Haircut $15.67$24.2635.4%
      Beauty Salon $54.72$45.5620.1%
      Toothpaste $3.67$3.700.8%
      Shampoo $1.48$1.2815.3%
      Movie $8.61$12.1329.1%
      Bowling $19.67$18.009.3%

      Groceries

      Item St. Petersburg National avg. Difference
      Ground Beef $6.06$5.843.8%
      Fried Chicken $1.48$1.575.7%
      Milk $4.56$4.672.3%
      Potatoes $5.34$4.938.1%
      Pizza $8.38$12.0930.6%
      Beer $10.69$10.412.6%

      Health Care

      Item St. Petersburg National avg. Difference
      Optometrist $146.67$125.6816.7%
      Doctor $122.32$135.789.9%
      Dentist $103.33$113.298.8%
      Ibuprofen $10.74$10.650.8%
      Lipitor $523.90$468.6011.8%

      Housing

      Item St. Petersburg National avg. Difference
      Home Price $222,900.00$184,700.0020.7%
      Avg. Mortgage Payment $1,846.50$2,346.6921.3%
      Apartment Rent $1,168.00$949.0023.1%

      Transportation

      Item St. Petersburg National avg. Difference
      Gasoline $3.42$3.461.0%
      Tire Balancing $57.28$59.924.4%

      Utilities

      Item St. Petersburg National avg. Difference
      All Electricity $219.66$193.9913.2%
      Phone $194.37$192.251.1%
      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.
      South Highpoint, FL5,8448812.5%
      Lealman, FL21,621909.6%
      West Lealman, FL14,304919.4%
      Largo, FL84,666936.6%
      Memphis, FL10,702990.8%
      St. Petersburg, FL264,0011043.8%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Jersey City, NJ262,65214343.4%
      Laredo, TX260,5718812.5%
      Fort Wayne, IN268,3789010.3%
      Chula Vista, CA268,77915656.1%
      Kitchener, ON259,162n/a 
      St. Petersburg, FL264,0011043.8%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.