A new study by FloridaRentals.com shows Hollywood is the least expensive Florida city to live in.
“The study delves into Numbeo cost of living data, highlighting the cost of several factors, from eggs and bread to gym memberships, taxi costs and internet bills. All 29 cities in Florida were ranked against eight determining factors to receive a score out of 100,” FloridaRentals.com noted. “Rankings are based on cost-of-living factors including accommodation, leisure, groceries, clothing, transport and utilities and bills. These factors were weighted against the average annual personal income in each city to create an index of the cheapest cities to live in Florida.”
Hollywood led the list, followed by Fort Myers, Boca Raton, Bradenton and Melbourne. Delray Beach, West Palm Beach, Boyton Beach, Deerfield Beach and Palm Cost also landed in the top 10.
Tampa ranked as the most expensive city in Florida, followed by Gainesville, Orlando, Miami and Sarasota.
A spokesperson for FloridaRentals.com weighed in on the findings.
“Florida is known for having a relatively diverse cost of living that can vary significantly depending on each specific city. Whilst Hollywood’s annual personal income per capita is fairly high, at $73,522, other factors rank extremely well against this figure, which is why it ranks at the top spot. Fort Myers’ annual personal income per capita is $62,885 and its cheapest factor is clothing, with the average cost price of a summer dress in a high street retailer is $25,” said the spokesperson.
“Housing costs can vary across Florida, with cities like Miami, Tampa and Orlando that tend to have higher housing costs compared to the more rural cities which offer more affordable housing options. As for the cost of utilities, including electricity, water, and air conditioning, these can also vary based on location, usage, and the time of year,” the spokesperson added. “Reports state Fort Myers is the warmest city in Florida, closely followed by Miami. However, despite the need for air conditioning, interestingly, Fort Myers still has an inexpensive utilities and bills score of 81.11 out of 100. Tampa is the most expensive city in the index, with the annual personal income per capita at $58,315. Leisure, transport and accommodation are the costliest amenities across the city.”
The study looked at 29 cities in Florida, ranking them by eight factors. “Rankings are based on cost-of-living factors, including accommodation, leisure, groceries, clothing, transport and utilities & bills. These factors were weighted against the average annual personal income per capita to create an index of the cheapest cities to live in Florida,” FloridaRentals.com noted. Information from Census.gov, Numbeo and Bea.gov. was used as sources.
