At a glance
| Living wage, 1 adult | $50,117 a year (MIT) |
|---|---|
| Typical home value | $375,470 (Aug 2026) |
| State income tax | None |
| State sales tax | 6% |
| Avg homeowners premium | $2,677 (2022) |
How expensive is it to live in Florida?
Florida is close to the national middle for housing, expensive for insurance, and cheaper than most states on income tax, because it has none. The biggest variable is where in the state you live: the gap between the cheapest and dearest counties is larger than the gap between Florida and most other states.
What a basic budget costs
The MIT Living Wage Calculator, updated in February 2026, estimates that a single adult with no children needs $50,117 a year before tax to cover basic needs in Florida, equal to $24.09 an hour for a full-time worker. Florida's minimum wage in January 2026 was $14.00 an hour, so a full-time minimum wage job covers a little under 60% of that budget.
How Florida compares with the US
Zillow's typical Florida home value of $375,470 in August 2026 is about 2% above the US figure of $368,697. Homeowners insurance is the outlier: Florida's average premium of $2,677 was the highest of any state in the latest NAIC data (2022). Electricity averaged 12.53 cents per kilowatt-hour across all customers in 2024, 18th among the states, according to the EIA.
Housing costs in Florida
Housing is the largest item in every Florida budget. MIT puts it at $18,245 a year for a single adult, more than a third of the basic budget.
Buying a home
At the 7.03% rate in Freddie Mac's 24 September 2026 survey, the typical Florida home ($375,470) costs about $2,004 a month in principal and interest with 20% down, or $2,255 with 10% down. Taxes, insurance and association fees come on top. County-by-county prices are in our average home price guide.
Renting
Zillow's typical rent in August 2026 ranged from $1,470 in Tallahassee and $1,575 in Ocala to $2,549 in Naples and $3,008 in Miami. Most large-city rents rose less than 3% over the year, and some, including Tampa and Sarasota, fell slightly.
Property tax
Your bill is the taxable value times the local millage rate, divided by 1,000. A primary residence gets the homestead exemption and the Save Our Homes cap on assessment increases. Worked examples by county are in Florida property tax by county, for example Hillsborough County.
Homeowners and flood insurance
Budget for insurance before you budget for the mortgage. The statewide average of $2,677 a year (2022) is a floor rather than a guide for older coastal homes, and flood insurance is a separate policy. Renters insurance is modest by comparison: an average of $181 a year in Florida in the same data.
HOA and CDD fees
A large share of homes built in the last few decades sit in a homeowners association, and many new communities also carry a community development district assessment on the tax bill. Condo associations can be the biggest cost of all in older buildings. Ask for exact amounts; our guide to CDD fees explains what to look for.
Cost of living by county: home values and rent
The table pairs Zillow's August 2026 typical home value for 16 of Florida's most populous counties with the typical rent in each county's largest or best-known city. It shows how much housing costs swing across the state.
| County | Typical home value | 5-year change | Largest city | Typical city rent |
|---|---|---|---|---|
| Miami-Dade County | $521,012 | +36.2% | Miami | $3,008 |
| Broward County | $423,492 | +24.7% | Fort Lauderdale | $2,736 |
| Palm Beach County | $474,416 | +27.5% | West Palm Beach | $2,377 |
| Collier County | $550,723 | +22.9% | Naples | $2,549 |
| Sarasota County | $396,714 | +9.4% | Sarasota | $2,175 |
| Hillsborough County | $377,121 | +20.3% | Tampa | $1,957 |
| Pinellas County | $370,534 | +14.1% | St. Petersburg | $2,058 |
| Orange County | $400,602 | +23.3% | Orlando | $1,896 |
| St. Lucie County | $371,231 | +22.9% | Port St. Lucie | $2,396 |
| Lee County | $335,409 | +8.4% | Cape Coral | $1,949 |
| Polk County | $295,824 | +17.8% | Lakeland | $1,722 |
| Duval County | $294,579 | +16.6% | Jacksonville | $1,601 |
| Alachua County | $304,012 | +17.5% | Gainesville | $1,618 |
| Leon County | $294,604 | +18.5% | Tallahassee | $1,470 |
| Escambia County | $281,804 | +19.2% | Pensacola | $1,657 |
| Marion County | $269,197 | +22.6% | Ocala | $1,575 |
Housing in Miami-Dade costs about twice what it does in Marion County, whether you rent or buy. For the lowest-cost options statewide, see the cheapest places to live in Florida. City pages go further, for example Orlando cost of living and Tampa cost of living.
Everyday costs
The figures below are MIT's annual estimates for a single adult in Florida unless stated otherwise.
Electricity and utilities
Air conditioning makes electricity the utility that matters. Florida's average retail price was 12.53 cents per kWh in 2024 (EIA), and electricity carries a 6.95% state tax rather than the usual 6% sales tax. Water, sewer and trash are billed by your city or county and vary widely, so ask for a recent bill. Better still, ask the seller or landlord for 12 months of electric bills, which will show the summer air-conditioning peak, before you sign anything.
Food
MIT estimates $4,614 a year for one adult, rising to $10,141 for one adult with two children and $13,503 for two adults with two children.
Transportation
Transport is $8,389 a year for one adult in MIT's budget. Gas averaged $4.42 a gallon for regular in late September 2026, according to AAA, up from $3.02 a year earlier.
Healthcare
MIT puts medical costs at $3,054 a year for a single adult and $9,567 for one adult with a child. Premiums depend on your employer, age and plan.
Childcare
Childcare is the biggest cost for working parents: $10,747 a year for one child and $20,656 for two in MIT's Florida figures.
Internet and phone
MIT allows $1,760 a year for one adult and $2,334 for a two-adult household.
Taxes in Florida
No state income tax
Florida's constitution bars a state tax on the income of residents beyond what federal law allows as a credit, so there is no state income tax on wages, pensions or investment income. It also bars a separate state estate or inheritance tax on the same terms.
Sales tax
The state sales tax rate is 6%. Most counties add a discretionary sales surtax, so the rate you pay at the register is usually a little higher. Some items have their own rates, such as electricity at 6.95% and new mobile homes at 3%.
Property tax
Because there is no income tax, local government leans on property tax. Homesteaded owners are shielded by exemptions and the assessment cap; second-home owners and landlords are not, and pay noticeably more on the same home.
What salary do you need to live in Florida?
MIT's living wage is the pay needed to cover basic needs with no savings or extras. It is a floor, not a comfortable budget. Figures are statewide averages; South Florida costs more and rural North Florida less.
| Household | Living wage (hourly) | Required income before tax | Of which housing |
|---|---|---|---|
| 1 adult, no children | $24.09 | $50,117 | $18,245 |
| 1 adult, 1 child | $39.87 | $82,929 | $23,262 |
| 1 adult, 2 children | $49.88 | $103,746 | $23,262 |
| 2 adults (1 working), no children | $32.17 | $66,917 | $19,619 |
| 2 adults (both working), no children | $16.09 each | $66,917 | $19,619 |
| 2 adults (both working), 2 children | $26.85 each | $111,714 | $23,262 |
A monthly budget for one adult
Dividing MIT's annual figures by 12 gives a rough monthly basic budget for a single adult in Florida: housing about $1,520, transportation $699, food $385, medical $255, internet and phone $147, civic and other items $554. That is about $3,560 a month after tax, before any savings. Add roughly $620 a month for taxes to reach the $50,117 pre-tax figure.
Can you live on $50,000 a year in Florida?
As a single adult, just about. $50,000 is almost exactly MIT's $50,117 statewide living wage for one adult, which means it covers basic needs with little left for savings, travel or emergencies. It is easier in lower-cost counties such as Polk, Marion or Leon than in Miami-Dade or Palm Beach. For a household with children on one income, $50,000 falls well short of MIT's estimates.
Can you live in Florida on $3,000 a month?
It is tight. $3,000 a month after tax is $36,000 a year, below MIT's after-tax requirement of $42,711 for a single adult. It works mainly for people who own their home outright or share housing, live in a lower-cost area, and have modest healthcare and transport costs. Typical rents of $1,500 to $2,000 in most large cities would take half or more of it.
Is it getting expensive to live in Florida?
Over five years, yes: Zillow's typical home value is up +20.3% since August 2021, and insurance and gas have risen too. Over the past year, housing has eased a little, with values down 1.5% and most city rents roughly flat, but higher mortgage rates mean a new buyer's payment is still higher than it was a year ago.
What state has the cheapest cost of living?
We don't have a sourced all-in index to rank states. On housing alone, Zillow's August 2026 figures put West Virginia ($179,496), Mississippi ($197,606) and Louisiana ($217,039) lowest, and Hawaii ($833,340) highest. Florida ranked 24th of 51.
Ways to lower your Florida costs
File for homestead
If the home is your permanent residence, apply to the county property appraiser by March 1. The exemption and the cap on assessment increases save more each year you stay. See the homestead exemption guide.
Get a wind mitigation inspection
Under section 627.0629 of the Florida Statutes, insurers' rate filings must include discounts or credits for features that reduce windstorm losses, such as roof-to-wall connections, roof strength and opening protection. A wind mitigation report documents them. Read Florida wind mitigation.
Compare counties, not just cities
Moving one county over can cut the price of a typical home by a fifth: Polk County's typical value is about 22% below Hillsborough's. Lakeland and Plant City are cheaper alternatives to Tampa, and Clermont and Winter Garden to Orlando; see Plant City and Clermont.
Check the full monthly cost before you buy
Add principal and interest, tax, insurance, HOA and CDD before comparing two homes. A cheaper home with a high CDD assessment and an older roof can cost more each month than a pricier one without them.
Common questions
What is the cost of living in Florida for one person?+
MIT's Living Wage Calculator estimates a single adult with no children needs $50,117 a year before tax, or $24.09 an hour, to cover basic needs in Florida. That includes $18,245 for housing, $8,389 for transport, $4,614 for food and $3,054 for healthcare. Costs are higher in South Florida and lower in rural North Florida.
Can I live in Florida on $3,000 a month?+
It is possible but tight. $3,000 a month after tax is $36,000 a year, below MIT's estimate of $42,711 after tax for one adult. It works best if you own your home outright or share housing and live in a lower-cost county. In most large cities, rent alone would take half of it or more.
Can you live on $50,000 a year in Florida?+
A single adult can cover basic needs on about $50,000, which matches MIT's Florida living wage of $50,117 before tax. There is little room for savings or emergencies, especially in South Florida. A household with children on a single $50,000 income falls well below MIT's estimates for those family types.
Is it getting more expensive to live in Florida?+
Over five years, yes. Zillow's typical home value rose 20.3% between August 2021 and August 2026, and Florida has the highest average homeowners insurance premium in the US. In the past year home values dipped 1.5% and most city rents were roughly flat, but gas prices and mortgage rates rose.
Does Florida have a state income tax?+
No. Florida's constitution prohibits a state income tax on residents beyond the amount federal law allows as a credit, so wages, retirement income and investment income are not taxed by the state. Florida raises money through a 6% sales tax, local sales surtaxes and property tax instead.
Is Florida cheaper than New York or California?+
For housing, yes. Zillow's typical home value in August 2026 was $375,470 in Florida, compared with $526,714 in New York State and $764,158 in California. Florida also has no state income tax. Insurance is usually higher in Florida, so compare the full cost for the specific home and area.
Sources
- MIT Living Wage Calculator: Florida (updated 15 February 2026)
- Zillow Research: Home Value Index (ZHVI) data, August 2026
- Zillow Research: State ZHVI time series (CSV)
- Zillow Research: Metro ZHVI time series incl. United States (CSV)
- Freddie Mac: Primary Mortgage Market Survey, 24 September 2026
- Insurance Information Institute: Facts + Statistics, homeowners and renters insurance (NAIC 2022 data)
- U.S. Energy Information Administration: Florida Electricity Profile 2024
- AAA: Florida average gas prices
- Florida Department of Revenue: Sales and use tax
- Florida Senate: Florida Constitution, Article VII, Section 5
- Florida Statutes s. 627.0629: Residential property insurance; rate filings (windstorm mitigation discounts)