Cost of Living in Goulds, FL

An Overview of Cost of Living in Goulds, FL

Are you thinking about relocating, but curious about the potential cost of living in Goulds? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Goulds stands at 113, making it 13% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

Housing costs significantly influence the Goulds cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 32.2%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.

Is Goulds Affordable?

Is Goulds affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Goulds, the median home price is 42.8% higher than the national average and monthly rent prices are 7.4% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Goulds boasting a median household income of $43,457, 21.4% lower than the national average.

What Factors can Influence the Cost of Living in Goulds?

Healthcare: Healthcare expenses and insurance premiums can vary significantly depending on the specific city or state. Factors such as accessibility to healthcare facilities, out-of-pocket expenses for doctor's visits, dental care expenses, prescription costs and specialized medical care fees can all influence the overall cost of living. In Goulds, healthcare costs are 4.2% lower than the national average.

Urbanization: Larger, urban areas boasting abundant amenities and robust employment prospects often exhibit a heightened cost of living, driven by the increased demand for services and residential relocation. Consequently, this leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural locales or regions marked by diminished demand typically offer a more limited range of amenities and experience slower job market expansion. This translates into a more affordable cost of living.

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 Goulds, the housing index is 32.2% higher than the national average.

Where is the Data From?

The Goulds cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.