A+
1%
Overall NAT. AVG.
1%
Goods & Services NAT. AVG.
9%
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 Lockhart Florida National
Cost of living10198100
Goods & Services10198100
Groceries9899100
Health care9296100
Housing10996100
Transportation9599100
Utilities9097100

An Overview of Cost of Living in Lockhart, FL

Knowing the cost of living in Lockhart allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Lockhart stands at 101, marking it 1% higher than the national average.

The cost of living in Lockhart 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 Lockhart Affordable?

Is Lockhart 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 Lockhart, the median home price is 1.7% lower than the national average and monthly rent prices are 35.6% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Lockhart boasting a median household income of $56,985, 3% higher than the national average.

What Factors can Influence the Cost of Living in Lockhart?

Transportation: In cities with limited or no public transportation, residents may find it necessary to own and maintain vehicles, thereby elevating the cost of living. Monthly expenditures include fuel, insurance, routine maintenance and potential lease or financing commitments. In Lockhart, the transportation index stands at 4.8% lower than the national average.

Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Lockhart, the groceries index is 2.2% 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.

Where is the Data From?

The cost of living data in Lockhart 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 Lockhart is 3% higher than the Florida average
  • The cost of living in Lockhart is 1% higher than the national average
  • Lockhart housing is 9% 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 Lockhart

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Compare Lockhart, 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$66,875$5,573$1,560$2,006
      Renters$41,604$3,467$971$1,248
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Lockhart, FL, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Lockhart homeowners, is $66,875. This would allow for a maximum of $1,560 per month to be spent on housing costs. For renters, the median monthly income is $41,604 which would result in a maximum of $971 to be spent on rental 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 Lockhart 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 Lockhart 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 Lockhart 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 Lockhart National avg. Difference
      Home Price $181,500.00$184,700.001.7%
      Avg. Mortgage Payment $2,463.53$2,346.695.0%
      Apartment Rent $1,287.00$949.0035.6%

      Transportation

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

      Utilities

      Item Lockhart 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.
      Sorrento, FL140972.6%
      Tildenville, FL43972.6%
      Lake Butler city, FL2,1858118.7%
      Clarcona, FL4,6878911.1%
      Zellwood, FL2,877918.8%
      Lockhart, FL14,9661011.0%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Worthington, OH14,96111010.3%
      Alpine, CA14,95816766.8%
      North New Hyde Park, NY14,95217676.2%
      Cowansville, QC14,980n/a 
      Eden, NC14,9868316.8%
      Lockhart, FL14,9661011.0%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.