Contrary to some consumer perceptions, it’s cheaper to live in Florida than most of the Mid-Atlantic and Northeast states, according to a Washington, D.C.-based think tank.
In my book, “Moving to Naples: The Un-Tourist Guide,” I came to the same conclusion. The most touted advantage to life in Naples is the absence of a state income tax, but do you also know that property taxes, energy costs and housing in Naples take less of a bite out of your budget compared to many northern locales?
Now, a study by the Tax Foundation showed that $100 in Florida buys $101.21 worth of goods, based on the national average. In the Northeast, only Pennsylvania, Rhode Island and Maine stretched their dollars further.
$100 in New York only buys $86.66 worth of goods, according to the report. The D.C. area is the nation’s most expensive, with $100 only getting $84.60.
The figure is a statewide average. However, as the Clearwater Gazette reported, prices spike near cities, and Florida is no exception – but prices in and around Tampa are still cheaper than New York City and Boston.
The Tax Foundation’s figures are based on housing costs, state income taxes and average price of goods in the area.
Many perceive Naples to be an exclusive retreat for the wealthy, but regular folks are finding that living here is actually considerably cheaper than other areas of the country.
Want to know more? Call, email or text me to find out more about life in Naples. Or buy my book.