Photo: Tatiana Lavrova / Moment / Getty Images
FLORIDA - Florida’s cost of living has increased enough to change how residents and potential newcomers view the state, with housing and everyday expenses now exceeding national norms in many areas.
Florida is no longer the low cost alternative it once was, as the overall cost of living has climbed to slightly above the national average.
Housing is the primary driver, with rent and home prices rising faster than wages in much of the state.
Average annual living expenses for a single adult in Florida now exceed $60,000, according to multiple cost of living analyses, with housing and utilities accounting for the largest share.
Rental prices across Florida have surged in recent years, with statewide averages nearing $1,900 per month and significantly higher costs in major metro areas such as Miami, Tampa, Orlando, and Fort Lauderdale.
Home prices have also remained elevated due to strong demand, population growth over the past decade, and limited housing supply.
Beyond housing, Floridians face higher costs for groceries, insurance, transportation, and healthcare.
While the state benefits from having no income tax, those savings are often offset by rising property insurance premiums and increasing everyday expenses.
Utility costs remain relatively moderate compared to other states, but they have also trended upward.
These affordability pressures are beginning to affect migration trends.
Florida continues to add residents, but population growth has slowed compared to recent years.
Surveys show a growing share of current residents are considering leaving the state, citing high housing costs and overall affordability concerns.
As Florida’s economy evolves, rising living costs are reshaping long held assumptions about affordability, particularly for middle income households, renters, and younger workers.