These 2 Metros Are The Least Expensive Cities In Florida To Raise A Family
Searches for remote jobs are skyrocketing as people are looking to escape some areas and move to others. The difference between the least expensive cities in Florida and some of the higher priced metro areas is staggering. Sure, small Florida towns like Labelle and Clewiston are always going to be cheaper, but if you’re looking to be near a city, or even the coast, you gotta pay up. A little.
Data from MIT’s Living Wage Institute was analyzed by Creditnews to rank America’s largest metros based on minimum “living income” thresholds. Basically, the income needed to cover essential expenses without public assistance. Rating the 100 largest metro areas, they then revealed the top 10 most, and the top 10 least expensive cities in the United States to raise a family. Although it is definitely more expensive to live in Florida now than it was just a few years ago, no Florida city ranked in their top 10 and 2 Florida cities actually ranked near the bottom.
Most Expensive
Before we get to our Florida cities, it’s really no surprise where the most expensive city in America to raise a family is. California.
1. San Jose-Sunnyvale-Santa Clara, CA
- A family of four needs at least $167,271 annually, which translates to an hourly wage of $40.21 if both parents work;
- Single adults require $68,379 annually;
- A family’s minimum income is approximately 2.45 times that of a single adult.
Major technology firms like Nvidia and Apple are in that area. It’s been estimated that a large number of Nvidia’s 29,600 employees are millionaires thanks to stock options given to them. Many of them multi-millionaires. How do you stay focused at work when you’re already rich? Your massive house payment.
The Least Expensive Cities In Florida To Raise A Family
As I mentioned, 2 Florida metropolitan areas scored on the least expensive side of the study. The second cheapest in Florida, and number 10 overall in the country, is the Daytona Beach area.
Deltona-Daytona Beach-Ormond Beach, FL
- A family must earn at least $97,025 annually, equating to an hourly wage of $23.32 per parent;
- Single adults need $40,929 per year;
- The family income threshold is about 2.37 times that of a single adult.
And finishing the study on the least expensive cities in Florida to raise a family is the Lakeland-Winter Haven area. The cheapest in Florida, and number 5 overall.
Lakeland-Winter Haven, FL
- Families need at least $94,024 annually, which translates to an hourly wage of $22.60 for each parent;
- To scrape by, single adults require $39,691 annually;
- The family income threshold is around 2.37 times that of a single adult.
No Surprise – Southwest Florida Is Not One Of The Least Expensive Cities In Florida
Fort Myers-Cape Coral
- Families need at least $105,064 annually, which translates to an hourly wage of $25.26 for each parent;
- To scrape by, single adults require $46,655 annually;
*This study ranked the 100 largest metro areas, so Naples was not part of the data. Find the full study and methodology here.
