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Cost of Living in Florida: Cities Where Household Expenses are Highest and Lowest in 2024

What is the cost of living in Florida? doxo breaks down key insights about Florida’s household expenses, with a close look into how bills differ between towns and cities across the state. 

According to doxo’s The Cost of Bills Index™ (COBI), the average household in Florida pays $2,259 in monthly expenses. doxoINSIGHTS compares the cost of the ten most common household bills across different regions. This includes Utilities, Cable & Phone, Mobile Phone, Auto Loans, Auto Insurance, Life Insurance, Health Insurance, Alarm & Security, Rent, and Mortgage.

The data sheds light on Florida’s cost of living through other metrics as well. For example, the “percent of household income” data point shows what percentage of their household income residents spend on bills each month. 

By leveraging these tools, residents can gain a clearer understanding of their household expenses and optimize their financial planning.

Florida ranks as the 17th most expensive state in the US for household bills

According to doxo’s COBI report, Florida is ranked as the 17th most expensive state in the U.S. for household bills, making it the least expensive state for these expenses. 

At $27,104 per year, Florida’s household expenses, on average, are 6% higher than the US average of $25,513. 

Absolute dollar amounts don’t tell the full story, however. doxo’s “Percentage of Household Income” data provides a more proportional look at bill spending in a particular location. Florida households spend 38% of their income on bills. 

COBI helps consumers understand how much it costs to live in one area as compared to another as it relates to the most common household bills. For COBI, the number 100 represents the national average and then, states, counties and cities are assigned a number, either above or below 100, based on how they compare to the national average. The COBI for Florida is 106.

• Average Bill Cost per Household: $2,259 per month
• Cost of Bills Index(COBI): 106
• doxoINSIGHTS State Rank: #17
• Percent of Household Income Used for Bills: 38%
• Compared to the National Average: 6% higher

Florida Household Expenses are 6% Higher Than the National Average

The average Florida household pays $2,259 per month in the 10 most common household bills. The least expensive of these are alarm and security bills. 

On the lowest end of the spectrum, the average monthly payment for alarm and security bills in Florida is $76, compared to the national average of $85, making it approximately 11% lower than the average.

Monthly mortgage bills are the most significant of the 10 most common bills for Florida residents. The average monthly mortgage payment is $1,604, compared to the national average of $1,402, making it 14% more expensive. 

Average Florida Household Bill Spending

Key Biscayne has the highest cost of living in Florida for household bills

Residents of Key Biscayne pay the highest household bills in the state of Florida, at an average of $3,670 per month. The Cost of Bills Index (COBI) for Key Biscayne is 173, meaning the average cost of bills in this city is 73% higher than the national average.

In proportion to household income, monthly bills in Key Biscayne makeup 26% of the average annual household income of $169,792. 

Access detailed infographics about each city or town by clicking on the hyperlinks in the “City” column in the tables below. You can also browse doxoINSIGHTS’ regional bill comparison database to see infographics about more than 4,200 cities and towns across all 50 states in the US.

10 Most Expensive Florida Cities for Household Bills

Frostproof has the lowest cost of living in Florida for household bills

Out of 240 cities, Frostproof is the most affordable place in Florida, with residents paying $1,108 on average for household bills, accounting for 27% of annual income of $49,812. The Cost of Bills Index (COBI) for Frostproof is 52, meaning the average cost of bills in this city is 48% below the national average. 

Quincy is the second most affordable city in Florida, with residents paying $1,277 per month on average.

Also on the list of the 10 least expensive cities in Florida are Interlachen ($1,341), Avon Park ($1,432) and North Fort Myers ($1,439).

10 Most Affordable Florida Cities for Household Bills

Some individuals might be considering moving from a more expensive city to a less expensive one. For those making such decisions, doxoINSIGHTS can be a valuable resource. It allows consumers to compare household expenses in Florida with average bills in various cities and states nationwide.