A+
12%
Overall NAT. AVG.
7%
Goods & Services NAT. AVG.
32%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Bayonet Point Florida National
Cost of living8898100
Goods & Services9398100
Groceries10099100
Health care9296100
Housing6896100
Transportation10099100
Utilities9997100

An Overview of Cost of Living in Bayonet Point, FL

Understanding the cost of living in Bayonet Point can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Bayonet Point cost of living index is 88, which is 12% lower than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.

Is Bayonet Point Affordable?

Is Bayonet Point an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Bayonet Point is 47.3% lower than the national average, while the average monthly rent prices are 4.1% higher than average. The affordability of any location can also be influenced by median income levels. Bayonet Point has a median household income of $37,463, which is 32.3% lower than the national average.

What Factors can Influence the Cost of Living in Bayonet Point?

Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Bayonet Point, the groceries index is 0.5% lower than the national average.

Utilities: Similar to the prices of any goods or services, utility expenses can fluctuate widely, contingent on variables such as climate, available energy sources, geographical location and state regulations. Costs associated with electricity, water, heating, and waste disposal can differ in magnitude, depending on the specific city or state. In Bayonet Point, the utilities index registers at 1.1% lower than the national average.

Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Regions with limited subsidy provisions may witness an increase in their overall cost of living.

Where is the Data From?

The cost of living in Bayonet Point, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Bayonet Point is 10% lower than the Florida average
  • The cost of living in Bayonet Point is 12% lower than the national average
  • Bayonet Point housing is 32% lower than the national average
  • Florida general sales tax is 18% higher than the national average
  • Florida state income tax is 100% lower than the national average

Most Affordable Places to Live in and Around Bayonet Point

See all the best places to live around Bayonet Point

Compare Bayonet Point, FL Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$40,841$3,403$953$1,225
      Renters$33,821$2,818$789$1,015
      A good indicator of the general affordability of housing in Bayonet Point, FL, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Bayonet Point, the median monthly income is $40,841 for those who own their own homes. Under the standard rule, that income level would allow for $953 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $33,821, per the median income in the area. That would allow for renters to spend up to $789 on monthly rental expenses.

      Florida Sales Tax

      State General Sales Tax With Max Surtax
      Florida 6% 7.5%

      Florida Income Tax

      State Income Tax (Low) Income Tax (High)
      Florida 0% 0%

      Goods & Services

      Item Bayonet Point National avg. Difference
      Haircut $15.67$24.2635.4%
      Beauty Salon $54.72$45.5620.1%
      Toothpaste $3.67$3.700.8%
      Shampoo $1.48$1.2815.3%
      Movie $8.61$12.1329.1%
      Bowling $19.67$18.009.3%

      Groceries

      Item Bayonet Point National avg. Difference
      Ground Beef $6.06$5.843.8%
      Fried Chicken $1.48$1.575.7%
      Milk $4.56$4.672.3%
      Potatoes $5.34$4.938.1%
      Pizza $8.38$12.0930.6%
      Beer $10.69$10.412.6%

      Health Care

      Item Bayonet Point National avg. Difference
      Optometrist $146.67$125.6816.7%
      Doctor $122.32$135.789.9%
      Dentist $103.33$113.298.8%
      Ibuprofen $10.74$10.650.8%
      Lipitor $523.90$468.6011.8%

      Housing

      Item Bayonet Point National avg. Difference
      Home Price $97,400.00$184,700.0047.3%
      Avg. Mortgage Payment $1,846.50$2,346.6921.3%
      Apartment Rent $988.00$949.004.1%

      Transportation

      Item Bayonet Point National avg. Difference
      Gasoline $3.42$3.461.0%
      Tire Balancing $57.28$59.924.4%

      Utilities

      Item Bayonet Point National avg. Difference
      All Electricity $219.66$193.9913.2%
      Phone $194.37$192.251.1%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Weeki Wachee, FL1963.8%
      Moon Lake, FL4,2348317.1%
      Wiscon, FL7938614.5%
      Holiday, FL21,0068713.2%
      New Port Richey, FL16,5428713.0%
      Bayonet Point, FL26,7048812.2%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Leisure City, FL26,7081099.4%
      Athens, AL26,686918.7%
      Lemon Grove, CA26,73914544.9%
      Maple Valley, WA26,73914949.4%
      Sanger, CA26,74411918.8%
      Bayonet Point, FL26,7048812.2%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.