Is it just us, or are things getting more costly by the day? From fuel and utilities to food and health insurance, regular expenses are increasing dramatically across the country at a rate that’s accelerating and alarming. No matter how much you cut back and optimize your budget, it seems that each paycheck disappears as quickly as you get it!
There’s a silver lining to this dark cloud, though; the cost of living is not universally high across the country. While it is certainly increasing uniformly in some areas, there are cities and regions across the US where the cost of living is dramatically lower than in cities such as New York and Los Angeles. In these places, you’ll spend a lot less on big purchases as well as small ones, saving you a great deal in the long run!
For those seeking relief from heavy financial burdens, Florida is the perfect place to call home. With no state income tax and a number of unique factors that make it particularly suitable for lower income families or individuals, this state has become a sort of mecca for the financially challenged and the economically disadvantaged.
There remains a question to be answered, however: which of Florida’s cities are the least expensive to live in? Sure, the median cost of living in this state is lower as a whole, but in more populous cities like Miami and Tallahassee you’ll likely spend quite a lot on basic necessities due to an inflated cost of living. So which Florida cities won’t break the bank?
The cheapest cities in Florida
While the overall cost of living in a specific city can be difficult to gauge at times, there are a few factors that signal whether a city will be expensive or inexpensive to live in. The cost of housing is typically the most obvious, as more minor expenses are likely to be inconsequential in a city where rent or home prices are exorbitantly high. So which of Florida’s cities are least expensive? Let’s find out!
Cape Coral, FL
If you were to visit Cape Coral without any knowledge of the city’s cost of living, you’d be forgiven for thinking that things are quite expensive. With gorgeous beaches, a wide variety of attractions, beautiful homes and a surprisingly large population, this city seems like the kind of place that only the most wealthy could afford to call home. As it turns out, this couldn’t be further from the truth!
The first thing that makes Cape Coral so affordable is the median home price. At just under $230,000 for the average listing, homes in this city sell for prices substantially below the market average for both the state and country as a whole. Virtually anyone with a stable income and steady employment can afford to purchase a home here!
What’s more, the average income in Cape Coral is substantially higher than the national rate, at just over $61,000. Even jobs that don’t require previous training or professional experience pay more here on average than in most cities across the country, making it surprisingly easy to sustain a thoroughly reasonable lifestyle on normal income.
According to real estate agents in Cape Coral FL, rent prices are roughly equivalent to $1,600 on average, which is somewhat higher than national average. When you factor in the median income, however, the prospects of finding a reasonably affordable rental become substantially more plausible. With some careful searching, you’re more than likely to find something that suits your needs and budget!
Jacksonville, FL
Traveling north from the vacation-goer friendly southern regions of the state, we’ve got the stylish, modern city of Jacksonville, FL. This rapidly growing metropolis isn’t quite as popular with tourists as its southern counterparts, but it’s hardly the first place you’d expect to be affordable. As we’ve learned today, first impressions such as these are often misleading!
As it turns out, the cost of living in Jacksonville FL is only slightly higher than in Cape Coral. With a median home price of approximately $275,000 according to real estate agents in Jacksonville FL, this city is home to a phenomenally advantageous and affordable real estate market. No matter what income bracket you fall under, chances are you’ll be able to afford a home here!
Of course, there’s a lot more to Jacksonville than just its affordable median home prices. Wouldn’t you know it, this is also a great place to raise a family! With excellent public safety figures as well as well funded and well managed education institutions, families seeking an affordable place to live will also find a family friendly place to live in the city of Jacksonville!
Jacksonville is also remarkable in that it’s surprisingly inexpensive on a day-to-day basis. From food to fuel to utilities and other minor expenses, this city is home to some really, really good deals. No matter what you’re buying, there’s a good chance that it will be cheaper if you buy it in the city of Jacksonville FL!
Orlando, FL
Considering that it’s one of the most popular tourist destinations in the entire world, you’d expect a city like Orlando to be home to an exorbitant cost of living. Once you do a bit of research, however, you’ll quickly realize that there are a number of reasons why this isn’t the case. Regardless, this city is home to one of the lowest costs of living in the state!
With a median home value of roughly $335,000, homes here aren’t exactly cheap. While certainly less expensive than many other cities in Florida, this is still several thousand dollars more expensive than the state average of $298,000. What makes this city inexpensive (relatively speaking) is the high median household income.
As it turns out, those working in Orlando have the benefit of being able to access a competitive and employee-friendly job market with thousands of openings and opportunities available. These jobs aren’t just easy to get, though; they also pay exceptionally well! When factored in along with the slightly-above-average cost of living, the equation just balances out to you having more money in your pocket at the end of the month.
Residents of the city of Orlando also have the benefit of living near one of the most popular tourist areas in the world, with dozens upon dozens of free attractions around every corner. When you live in Orlando, you don’t have to venture too far beyond your front door to experience what millions of people each year travel thousands of miles to experience!
Conclusion
While the state of Florida is without a doubt one of the best places to live if you’re strapped for cash, there’s no question about the fact that some cities are cheaper than others. With this article, we hope we’ve given you some inspiration in looking for an inexpensive place to live. These might not be the most inexpensive places in the country, but you’ll be hard pressed to find cheaper cities in the state of Florida!
If you move to one of the places on this list, you’ll be able to shift your focus from work to the things you care about most. With extra time and extra cash, there’s a good chance you can start working on your hobbies and interests, leaving your days of scrimping and saving behind. We wish you the best of luck!