Yahoo Finance 10 Cheapest Places Left To Live in Florida
Whether you’re planning to relocate with your family or thinking about where to settle for retirement, many people set their sights on moving to Florida. In 2022, the United States Census Bureau announced Florida is the fastest-growing state in the nation. As more people flock to Florida, many may wonder which cities offer the most affordable way of life for residents.
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To determine where the cheapest places left to live still are, GOBankingRates sourced data from Zillow, Sperling’s Best Places and the Bureau of Labor Statistics. Single-family home value, condo/co-op value and rental home cost were all factors scored, combined and sorted to show the cheapest Florida cities first. Other factors used to create a ranking of the cheapest places to live left in Florida included annual costs for groceries, healthcare, utilities, transportation and miscellaneous expenses for a total monthly cost.
In reverse order, here are the 10 cheapest places left to live in Florida.
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10. South Daytona
Single-family home value: $278,086.36
Condo/co-op value: $158,532.35
Rental home cost value: $1,682.64
Grocery annual cost: $5,201.15
Healthcare annual cost: $5,599.20
Utilities annual cost: $4,083.64
Transportation annual cost: $5,318.35
Miscellaneous expenses annual cost: $880.50
Total monthly cost: $1,756.90
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9. Jasper
Single-family home value: $207,414.39
Condo/co-op value: $228,098.50
Rental home cost value: $844
Grocery annual cost: $5,032.86
Healthcare annual cost: $6,869.52
Utilities annual cost: $4,603.07
Transportation annual cost: $4,596.74
Miscellaneous expenses annual cost: $726.68
Total monthly cost: $1,819.07
8. Jacksonville
Single-family home value: $233,747.75
Condo/co-op value: $154,578.93
Rental home cost value: $1,228.02
Grocery annual cost: $5,216.93
Healthcare annual cost: $5,462.90
Utilities annual cost: $4,341.24
Transportation annual cost: $5,761.55
Miscellaneous expenses annual cost: $1,021.50
Total monthly cost: $1,817.01
7. Springfield
Single-family home value: $223,690.20
Condo/co-op value: $194,019.28
Rental home cost value: $1,211.02
Grocery annual cost: $5,080.19
Healthcare annual cost: $5,402.93
Utilities annual cost: $4,497.50
Transportation annual cost: $5,170.62
Miscellaneous expenses annual cost: $910.08
Total monthly cost: $1,755.11
6. Lake Wales
Single-family home value: $250,543.15
Condo/co-op value: $136,540.59
Rental home cost value: $1,508.33
Grocery annual cost: $5,364.18
Healthcare annual cost: $5,501.07
Utilities annual cost: $4,493.27
Transportation annual cost: $4,994.48
Miscellaneous expenses annual cost: $788.80
Total monthly cost: $1,761.82
5. Inverness
Single-family home value: $246,074.40
Condo/co-op value: $163,755.85
Rental home cost value: $1,495.83
Grocery annual cost: $5,364.18
Healthcare annual cost: $5,310.25
Utilities annual cost: $4,535.50
Transportation annual cost: $4,710.38
Miscellaneous expenses annual cost: $799.65
Total monthly cost: $1,726.66
4. Titusville
Single-family home value: $98,269.84
Condo/co-op value: $190,534.33
Rental home cost value: $1,591.70
Grocery annual cost: $5,185.37
Healthcare annual cost: $5,446.55
Utilities annual cost: $4,083.64
Transportation annual cost: $4,943.34
Miscellaneous expenses annual cost: $1,043.19
Total monthly cost: $1,725.17
3. Ocala
Single-family home value: $273,338.60
Condo/co-op value: $141,328.58
Rental home cost value: $1,635.67
Grocery annual cost: $5,159.08
Healthcare annual cost: $5,321.15
Utilities annual cost: $4,400.37
Transportation annual cost: $4,664.92
Miscellaneous expenses annual cost: $777.95
Total monthly cost: $1,693.62
2. Lake Placid
Single-family home value: $265,298.86
Condo/co-op value: $135,534.57
Rental home cost value: $1,285.83
Grocery annual cost: $5,395.73
Healthcare annual cost: $5,795.48
Utilities annual cost: $4,632.63
Transportation annual cost: $4,324.00
Miscellaneous expenses annual cost: $772.04
Total monthly cost: $1,743.32
1. Sebring
Single-family home value: $96,471.14
Condo/co-op value: $153,029.91
Rental home cost value: $1,466.85
Grocery annual cost: $5,327.37
Healthcare annual cost: $5,795.48
Utilities annual cost: $4,480.60
Transportation annual cost: $3,977.40
Miscellaneous expenses annual cost: $775.00
Total monthly cost: $1,696.32
Methodology: For each city in Florida, GOBankingRates found the [1] Single Family Home Median Home Value for July 2023 sourced from the Zillow Home Value Index, [2] Condo/COOP Median Home value for July 2023 sourced from the Zillow Home Value Index, and [3] Median Rental Cost for July 2023 sourced from Zillow Observed Rental Index. These three factors were scored, combined, and sorted to show the cheapest cities first. The top 50 cheapest cities were kept and for each of these 50 cities the cost of living indexes across; [4] grocery, [5] healthcare, [6] utilities, [7] transportation, and [8] miscellaneous expense categories were sourced from Sperlings’ Best Places. The cost of living indexes were multiplied by the [9] national median annual expense costs sourced from Bureau of Labor Statistics Consumer Expenditure Survey, to find the median costs for each expenditure category. Factors [1] through [3] were weighted at 0.5, factors [4] through [8] were weighted at 1.0, and then both factors were combined and sorted to show the cheapest places to live in Florida. All data was collected and is up-to-date as-of August 21st, 2023.
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This article originally appeared on GOBankingRates.com: 10 Cheapest Places Left To Live in Florida
