B+
12%
Overall NAT. AVG.
1%
Goods & Services NAT. AVG.
46%
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 Forest City Florida National
Cost of living11298100
Goods & Services10198100
Groceries9899100
Health care9296100
Housing14696100
Transportation9599100
Utilities9097100

An Overview of Cost of Living in Forest City, FL

The cost of living in Forest City affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Forest City is 112, which is 12% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

Housing costs are a major factor in the Forest City cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 46.3% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.

Is Forest City Affordable?

Is Forest City affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Forest City, for instance, where the median home price falls 51% higher than the national average, and monthly rent rates are 35.2% higher than usual. Additionally, median income levels contribute to the equation, with Forest City flaunting a median household income of $65,698, 18.8% higher than the national norm.

What Factors can Influence the Cost of Living in Forest City?

Taxes: Regions that impose higher taxes, including sales and income taxes, can contribute to an increased cost of living. Higher taxes for everyday necessities such as clothing, utilities and food inevitably leads to higher expenditures. Additionally, a higher income tax rate can also play a role in elevating the overall cost of living. In Forest City, the prevailing sales tax rate starts at 6%, and income tax rates kick off at 0%.

Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In Forest City, the transportation index is 4.8% lower than the national average.

Housing: Elevated demand for housing within coveted locales has the propensity to escalate both property values and rental rates, thereby serving as a primary catalyst for an augmented cost of living. Conversely, areas witnessing diminished housing demand, particularly within less desirable environs, often experience an inversely proportional effect, leading to price reductions and subsequently contributing to a more modest cost of living. In Forest City, the housing index is 46.3% higher than the national average.

Where is the Data From?

The cost of living data in Forest City displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

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Cost Of Living Quick Facts

  • The cost of living in Forest City is 15% higher than the Florida average
  • The cost of living in Forest City is 12% higher than the national average
  • Forest City housing is 46% higher 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 Forest City

See all the best places to live around Forest City

Compare Forest City, 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$88,397$7,366$2,062$2,652
      Renters$51,353$4,279$1,198$1,541
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Forest City, FL, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Forest City, homeowners have a median income of $88,397. Using that number, a maximum of $2,062 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $51,353, which means there is a maximum of $1,198 to be spent on the costs of renting a home or apartment.

      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 Forest City National avg. Difference
      Haircut $26.53$24.269.4%
      Beauty Salon $55.13$45.5621.0%
      Toothpaste $3.84$3.703.8%
      Shampoo $1.48$1.2815.8%
      Movie $13.54$12.1311.6%
      Bowling $19.87$18.0010.4%

      Groceries

      Item Forest City National avg. Difference
      Ground Beef $6.26$5.847.1%
      Fried Chicken $1.40$1.5711.0%
      Milk $4.58$4.671.9%
      Potatoes $5.23$4.936.0%
      Pizza $13.13$12.098.6%
      Beer $11.07$10.416.3%

      Health Care

      Item Forest City National avg. Difference
      Optometrist $118.44$125.685.8%
      Doctor $137.00$135.780.9%
      Dentist $125.36$113.2910.7%
      Ibuprofen $10.89$10.652.2%
      Lipitor $446.86$468.604.6%

      Housing

      Item Forest City National avg. Difference
      Home Price $278,900.00$184,700.0051.0%
      Avg. Mortgage Payment $2,463.53$2,346.695.0%
      Apartment Rent $1,283.00$949.0035.2%

      Transportation

      Item Forest City National avg. Difference
      Gasoline $3.39$3.462.1%
      Tire Balancing $57.07$59.924.8%

      Utilities

      Item Forest City National avg. Difference
      All Electricity $190.71$193.991.7%
      Phone $194.67$192.251.3%
      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.
      Tildenville, FL43972.6%
      Sorrento, FL140972.6%
      Lake Butler city, FL2,1858118.7%
      Clarcona, FL4,6878911.1%
      Zellwood, FL2,877918.8%
      Forest City, FL13,59211212.0%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Jensen Beach, FL13,5921055.3%
      Iona, FL13,58811211.6%
      Oatfield, OR13,58813030.4%
      Chelsea, AL13,5991077.5%
      Jasper, AL13,584937.1%
      Forest City, FL13,59211212.0%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.