Florida Keys and Key West Cost of Living
The cost of living index is based on the composite
price of groceries, housing, utilities, transportation, health care,
clothing and entertainment.
Cost of living indexes will generally be higher in areas that offer access to beaches, culture, arts and recreation. In addition, areas that offer a wider variety of services such as health and education will run higher due to higher wages, and increased quality of living.
Cost of living indexing explanation:
A figure of 100 points is used as an average both for the USA and Florida. For example:
Boise Idaho is ranked at a 99
Boston Mass is rated at 127.60
San Francisco at 187.23
• Statewide, Florida cities come in from a low of 90 and up.
• One way to compare Florida areas to salary requirements
For example-If you were relocating from Portland Oregon (whose rate is 120) to Orlando, and you currently make $50,000 per year, the formula is as follows
• Take the destination index, in this case Orlando-94.2 and divide by Portland’s index-120, then multiply by a salary of $50,000. This will give you a figure of $39,250, which you would be required to make in Orlando and have the same quality of life.
*The Keys and Monroe county top out the state at an average Cost of Living at 160 plus. (This is due to the home price escalation in the Keys). We only have so much land and the area is heavily regulated as to building permits. The result is that it's not going to get cheaper....A tropical paradise is in the same venue as any resort destination area, be it Martha's Vineyard or Sun Valley.
However compared to other areas nationally and given the amenities of the Keys, it is a great place to live, work and play.
(Population Weighted-State Average=100.
2007 stats per Sperlings best Places http://www.bestplaces.net/
Cape Coral-Ft Myers-108.0
Big Pine Key fl-132.46
Vero-Beach Indian River-122.87
West Palm Beach metro-112.05
(Population Weighted-State Average=100
See national comparisons
Cost of living (100 = nationwide average:
* New York, NY -164.50
* Long Beach, CA -135.71
* Palo Alto, CA -234.42
* Boston, MA -127.60
* Malibu, CA -492.80
* San Francisco, -187.23
* Greenwich, CT 215
* Chicago, IL -126.45
* Dallas Tx -92,94
* Atlanta Ga -112.21
For more information about cost of living go to either
Sperlings best Places http://www.bestplaces.net/
or Accra's site at http://www.coli.org/
The median 2007 home cost in Key West is $899,000.
Home appreciation the last year has been -4.26 percent.
• Beach front condos, from $650,000 to 2 million
• Inland homes from $500,000 up
• Inland condos start at $400,000
For Utility charges:
• The Florida Keys Aqueduct Authority provides water for the entire Keys:
• Tavernier.....305 852-8068
• Marathon.....305 743-5409
• Lower Keys.....305 296-2454
• The Florida Keys Electric Cooperative
• provides power for the upper Keys:
• Tavernier.....305 852-2431
• Marathon, 3421 O/S Hwy.....305 743-5344
• Key West City Electric
• provides power for the Lower Keys
• 1001 James St, Key West.....305 294-5272
Propane is available from local dealers
• Bell South
• Residential Services.....305 780-2500
• Business Services.....305 780-2800
Most homes in the Keys are on septic tanks with a few exceptions-Key West-Marathon. Garbage pickup is included in your taxes
We only spend a small percentage of our lifetimes outdoors, why not make the most of it.