Cost of Living in Florida vs. Texas in 2023
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The cost of living is an important factor to keep in mind before choosing a place to move to. With the recent increase in prices, this has become mandatory. Getting this wrong can result in many uncomfortable situations, and you can even regret moving, even after a pleasant experience with some reputable movers like New Leaf Moving Group Florida. If you are thinking about moving between Florida and Texas, you are in a good place to learn. Today, we present you with a comparison of the cost of living in Florida and Texas.
What does the cost of living include?
The cost of living is the level of prices of everyday items. Everybody needs different items daily, but some are essentials, like:
- Health care
- Child care
As you can see, the list is quite long, but everybody needs this. The prices of these essentials vary from state to state, and even from place to place inside the same borders. In case you are moving to Texas from Florida, or vice versa, you will find the following chapter on the cost of living in Florida helpful.
What is the cost of living in Florida?
The biggest monthly expense is housing. A rule of thumb is to set aside 30% of your income for this. That’s why you should have at least three months’ rent saved before hiring some interstate moving companies Florida. The lowest-priced home you can find is in Melbourne, at $95,000 up to $458,000 in Naples. As for rent, it costs $1,000 to $1,700. Utility costs vary greatly depending on the state, but in Florida you at least won’t have to worry about heating. A rough monthly estimate is $413. The expenses for food and groceries depend on the place, and whether you cook yourself or eat in restaurants. An average person in Florida spends $308 on food per month.
Even though it depends on the situation and insurance, you can expect to spend close to $7,000 a year per person on healthcare. Transportation costs might not seem like much, but if you are working, and have school-aged kids, you can expect to pay up to $13,000 on this alone. $800-$1,400 is the amount you will spend for childcare per kid, and you won’t spend anything on state income tax in Florida. Some good news!
What is the situation like in Texas?
Housing is a huge expense in Texas, with the home cost at $137,000 in Brownsville and $520,000 in Austin. Rent is a bit more affordable than in Florida, from $900 to $1,650. Utilities are also more affordable, around $395 per month. As for groceries, you will on average spend $275 per person a month. The price of healthcare is significantly lower in Texas, at $5,800 per year. The gas prices are almost the same in all the states, so the transportation costs will be the same. Childcare for one kid can cost from $800 to $1,250, depending mostly on the age, while you also won’t have to worry about paying a state income tax in Texas.
Final thoughts on the cost of living in Florida and Texas comparison
The Lone Star State is 8% cheaper than the Sunshine State, but there is a good reason for it. The main one is that the income in Florida is significantly lower than the national average, followed by the fact that it is a popular holiday destination, with limited housing space. The high prices are well worth it, so don’t hesitate to contact our moving services Boynton Beach providers and make Florida your new home!