Cost Of Living in Key Largo, 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	Key Largo	Florida	National
Cost of living	141	98	100
Goods & Services	106	98	100
Groceries	104	99	100
Health care	96	96	100
Housing	227	96	100
Transportation	103	99	100
Utilities	103	97	100

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Cost Of Living Quick Facts

The cost of living in Key Largo is 44% higher than the Florida average
The cost of living in Key Largo is 41% higher than the national average
Key Largo housing is 127% 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

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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	$75,274	$6,273	$1,756	$2,258
Renters	$56,786	$4,732	$1,325	$1,704

The affordability of the housing market in Key Largo, FL as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Key Largo homeowners, the median income is $75,274. This indicates that a monthly maximum of $1,756 should be spent by homeowners on all housing related costs. Renters have a median income of $56,786. This indicates that renters would have a maximum of $1,325 for their rent related monthly costs.

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	Key Largo	National avg.	Difference
Haircut	$20.53	$24.26	15.4%
Beauty Salon	$88.07	$45.56	93.3%
Toothpaste	$3.51	$3.70	5.2%
Shampoo	$1.53	$1.28	19.7%
Movie	$14.35	$12.13	18.2%
Bowling	$23.67	$18.00	31.5%

Groceries

Item	Key Largo	National avg.	Difference
Ground Beef	$6.11	$5.84	4.6%
Fried Chicken	$1.40	$1.57	11.2%
Milk	$4.60	$4.67	1.5%
Potatoes	$5.24	$4.93	6.2%
Pizza	$14.13	$12.09	16.9%
Beer	$11.44	$10.41	9.9%

Health Care

Item	Key Largo	National avg.	Difference
Optometrist	$98.49	$125.68	21.6%
Doctor	$127.08	$135.78	6.4%
Dentist	$107.83	$113.29	4.8%
Ibuprofen	$11.10	$10.65	4.2%
Lipitor	$490.35	$468.60	4.6%

Housing

Item	Key Largo	National avg.	Difference
Home Price	$457,800.00	$184,700.00	147.9%
Avg. Mortgage Payment	$3,109.00	$2,346.69	32.5%
Apartment Rent	$1,686.00	$949.00	77.7%

Transportation

Item	Key Largo	National avg.	Difference
Gasoline	$3.49	$3.46	0.8%
Tire Balancing	$64.09	$59.92	7.0%

Utilities

Item	Key Largo	National avg.	Difference
All Electricity	$200.94	$193.99	3.6%
Phone	$194.37	$192.25	1.1%

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.
Tavernier, FL	1,980	147	46.8%
Islamorada, Village of Islands, FL	6,384	170	69.7%
North Key Largo, FL	884	320	219.6%
Key Largo, FL	9,670	141	40.9%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Hope, AR	9,668	84	16.3%
Hamburg, NY	9,672	96	4.3%
Loudoun Valley Estates, VA	9,673	169	69.0%
Wapakoneta, OH	9,662	94	6.4%
Farnham, QC	9,662	n/a
Key Largo, FL	9,670	141	40.9%

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 Key Largo, FL