MUST-READ: The Cost of Living in Sunny Orlando, Florida

Are you wondering if there’s a city out there that offers a better quality of life without breaking the bank? Well, look no further than Orlando, Florida.

According to a Redfin report1, one out of four people who are relocating to other parts of the United States move to a brand new metro area. And half of the 10 most popular destinations are in Florida, with Orlando and Central Florida on the top of the list.

So, buckle up! Let’s find out if Orlando is the affordable paradise you’ve been searching for.

Single Family Home Median Price

The median price for a single family home varies greatly, and this depends on a lot of factors such as location, specific neighborhoods in a location, the type of home, or if it’s new construction or existing. The median home price for Orlando as of June 2023 is $449,000 and the average is about $529,000. The median rent is $2,495.

Utility Bills

Your monthly energy bill is going to be on average $164 a month, and your phone bill is probably $175 a month as of June 2023. And according to payscale.com2, gas prices in Orlando are about $3.11 per gallon. On the other hand, rates for healthcare are about 8% lower as compared to the national average price. Food and groceries are about 3% higher.

So overall, when you add up housing, utilities, groceries and transportation costs, Orlando is about 5% higher than the national average for the cost of living.

Income Tax

There are other things to consider that could affect your bottom line when moving to Orlando Florida, and this could be the income tax. And the good news is that Florida has no state income tax.

Sales Tax

The sales tax varies by county and is roughly 6 to 7%. And in Florida, we don’t get taxed on certain grocery food, which is another bonus because food is a LARGE expense.

Services

For services like house cleaning and yard work, they’re slightly lower to average than the national average. Salon services are about average as well in Orlando. I don’t want to say how much I pay for my hair service, but I believe it to be less than places like California and New York and in the northeast, just from talking to my clients who have moved here from those other areas. They’re always surprised at the salon prices here that are slightly better.

There you go! You’ve seen the cost of living in Orlando. I hope this information is helpful to you. And since these rates may change in time, you can stay updated with the latest on the Orlando real estate market by subscribing to our YouTube channel: https://www.youtube.com/@KathyWilliamsOrlandoRealEstate

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