A
1%
Overall NAT. AVG.
0%
Goods & Services NAT. AVG.
5%
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 Gulf Gate Estates Florida National
Cost of living9998100
Goods & Services10098100
Groceries10199100
Health care10396100
Housing9596100
Transportation9799100
Utilities10097100

An Overview of Cost of Living in Gulf Gate Estates, FL

Understanding the cost of living in Gulf Gate Estates 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 Gulf Gate Estates cost of living index is 99, which is 1% 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.

The cost of living in Gulf Gate Estates is about average when compared to all other cities across the nation. You can expect that everyday items like food, goods and services and utility bills will be no more expensive than any other average city. Residents can anticipate living expenses that remain in line with the national average, ensuring a manageable financial burden, making it an attractive choice for those seeking affordability without the constraints of higher everyday expenditures.

Is Gulf Gate Estates Affordable?

Wondering if Gulf Gate Estates is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Gulf Gate Estates, for example, the median home price is 13.6% lower than what folks pay nationally, and monthly rent is 14.5% higher than the usual rates. Plus, income levels matter too, with Gulf Gate Estates boasting a median household income of $45,164, which is 18.4% lower than the national average.

What Factors can Influence the Cost of Living in Gulf Gate Estates?

Housing: When there's a high demand for housing in trendy places, it can cause property prices and rental rates to soar, leading to a significantly higher cost of living. Conversely, in less desirable locations, where demand is low, prices tend to decrease, resulting in a more budget-friendly cost of living. In Gulf Gate Estates, the housing index is 5.2% lower than the national average.

Subsidies: Certain regions may provide government subsidies or assistance initiatives designed to alleviate the cost of living burden on their residents. These programs encompass a wide range of support mechanisms, such as 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 farming subsidies. Areas with fewer subsidy offerings might experience an elevation in their cost of living.

Utilities: As with the prices of anything else, utility costs can exhibit significant variations, contingent on factors like climate, energy source availability, geographic location and state regulations. The expenses associated with electricity, water, heating, and waste disposal can fluctuate, either upward or downward, depending on the particular city or state. In Gulf Gate Estates, the utilities index registers 0.4% lower than the national average.

Where is the Data From?

The cost of living in Gulf Gate Estates, 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 Gulf Gate Estates is 1% higher than the Florida average
  • The cost of living in Gulf Gate Estates is 1% lower than the national average
  • Gulf Gate Estates housing is 5% 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 Gulf Gate Estates

See all the best places to live around Gulf Gate Estates

Compare Gulf Gate Estates, 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$50,070$4,173$1,168$1,502
      Renters$38,955$3,246$909$1,169
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Gulf Gate Estates, 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 Gulf Gate Estates, homeowners have a median income of $50,070. Using that number, a maximum of $1,168 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $38,955, which means there is a maximum of $909 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 Gulf Gate Estates National avg. Difference
      Haircut $26.28$24.268.3%
      Beauty Salon $41.57$45.568.8%
      Toothpaste $3.67$3.701.0%
      Shampoo $1.36$1.286.5%
      Movie $13.08$12.137.8%
      Bowling $16.72$18.007.1%

      Groceries

      Item Gulf Gate Estates National avg. Difference
      Ground Beef $5.02$5.8414.0%
      Fried Chicken $1.48$1.576.0%
      Milk $4.54$4.672.8%
      Potatoes $5.47$4.9310.9%
      Pizza $10.96$12.099.3%
      Beer $10.58$10.411.6%

      Health Care

      Item Gulf Gate Estates National avg. Difference
      Optometrist $104.04$125.6817.2%
      Doctor $122.85$135.789.5%
      Dentist $112.75$113.290.5%
      Ibuprofen $10.35$10.652.9%
      Lipitor $447.95$468.604.4%

      Housing

      Item Gulf Gate Estates National avg. Difference
      Home Price $159,500.00$184,700.0013.6%
      Avg. Mortgage Payment $1,781.84$2,346.6924.1%
      Apartment Rent $1,087.00$949.0014.5%

      Transportation

      Item Gulf Gate Estates National avg. Difference
      Gasoline $3.56$3.462.8%
      Tire Balancing $63.29$59.925.6%

      Utilities

      Item Gulf Gate Estates National avg. Difference
      All Electricity $149.04$193.9923.2%
      Phone $193.01$192.250.4%
      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.
      South Bradenton, FL24,8859010.4%
      Whitfield CDP (Santa Rosa County), FL2039010.2%
      Bayshore Gardens, FL20,380937.4%
      West Samoset, FL7,191946.4%
      Warm Mineral Springs, FL5,267973.4%
      Gulf Gate Estates, FL10,676991.5%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Arkadelphia, AR10,6708613.7%
      Columbia, IL10,6921000.5%
      Comstock Park, MI10,659928.0%
      Grey Highlands, ON10,659n/a 
      Sainte-Agathe-des-Monts, QC10,693n/a 
      Gulf Gate Estates, FL10,676991.5%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.