Cost Of Living in Hernando, FL

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	Hernando	Florida	National
Cost of living	84	98	100
Goods & Services	92	98	100
Groceries	96	99	100
Health care	94	96	100
Housing	61	96	100
Transportation	104	99	100
Utilities	86	97	100

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Cost Of Living Quick Facts

The cost of living in Hernando is 14% lower than the Florida average
The cost of living in Hernando is 16% lower than the national average
Hernando housing is 39% 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

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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	$35,599	$2,967	$831	$1,068
Renters	$24,871	$2,073	$580	$746

The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Hernando, 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 Hernando, homeowners have a median income of $35,599. Using that number, a maximum of $831 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $24,871, which means there is a maximum of $580 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	Hernando	National avg.	Difference
Haircut	$22.56	$24.26	7.0%
Beauty Salon	$62.28	$45.56	36.7%
Toothpaste	$3.65	$3.70	1.5%
Shampoo	$1.41	$1.28	10.4%
Movie	$13.48	$12.13	11.1%
Bowling	$16.89	$18.00	6.2%

Groceries

Item	Hernando	National avg.	Difference
Ground Beef	$5.76	$5.84	1.4%
Fried Chicken	$1.42	$1.57	9.7%
Milk	$4.55	$4.67	2.6%
Potatoes	$5.29	$4.93	7.2%
Pizza	$10.99	$12.09	9.1%
Beer	$11.00	$10.41	5.7%

Health Care

Item	Hernando	National avg.	Difference
Optometrist	$80.94	$125.68	35.6%
Doctor	$125.35	$135.78	7.7%
Dentist	$103.14	$113.29	9.0%
Ibuprofen	$10.54	$10.65	1.0%
Lipitor	$490.06	$468.60	4.6%

Housing

Item	Hernando	National avg.	Difference
Home Price	$102,200.00	$184,700.00	44.7%
Avg. Mortgage Payment	$2,315.76	$2,346.69	1.3%
Apartment Rent	$691.00	$949.00	27.2%

Transportation

Item	Hernando	National avg.	Difference
Gasoline	$3.36	$3.46	2.9%
Tire Balancing	$54.31	$59.92	9.4%

Utilities

Item	Hernando	National avg.	Difference
All Electricity	$162.33	$193.99	16.3%
Phone	$192.62	$192.25	0.2%

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.
Homosassa Springs, FL	14,566	83	17.4%
Lake Panasoffkee, FL	4,049	83	16.8%
Beverly Hills, FL	9,484	84	15.7%
Inverness, FL	7,399	85	14.9%
Inverness Highlands North, FL	2,722	86	14.2%
Hernando, FL	8,977	84	16.1%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Mechanicsburg, PA	8,977	102	1.6%
Contrecoeur, QC	8,977	n/a
Craig, CO	8,978	98	2.0%
Cambridge, MN	8,975	96	3.9%
Harleysville, PA	8,975	124	24.1%
Hernando, FL	8,977	84	16.1%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

Cost of Living in Hernando, FL