Thonotosassa cost of living index

Here we can see a simple outline of the cost of living in Thonotosassa, FL. As you can see, with the average cost of living in Thonotosassa, FL being 93, that puts it 6% lower than the average of Florida and 7% lower than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Thonotosassa, FL, the price of goods and services are 2% lower than the average of Florida as well as 3% lower than the nation's average.

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Salary Calculator

Using the salary calculator lets you compare the salary you earn in Thonotosassa, 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 Thonotosassa, FL, you have to earn a higher income in order to still have the same standard of living. To operate the Thonotosassa, 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

The affordability of the housing market in Thonotosassa, FL as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Thonotosassa, FL homeowners, the median income is $51,056. This indicates that a monthly maximum of $1,191 should be spent by homeowners on all housing related costs. Renters have a median income of $27,639. This indicates that renters should have a maximum of $645 used for their rent related monthly costs.

Florida Sales Tax

Florida Income Tax

When assessing the complete cost of living in Thonotosassa, FL, the Florida income tax and the Florida sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Florida maximum surtax is 7.5%, and the Florida sales tax is 6%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 0% to 0% in Florida.

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 Thonotosassa, FL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.