B-
17%
Overall NAT. AVG.
7%
Goods & Services NAT. AVG.
64%
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 Lutz Florida National
Cost of living11798100
Goods & Services9398100
Groceries10099100
Health care9296100
Housing16496100
Transportation10099100
Utilities9997100

An Overview of Cost of Living in Lutz, FL

The cost of living in Lutz affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Lutz is 117, which is 17% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

Housing costs are a major factor in the Lutz cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 64.2% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.

Is Lutz Affordable?

Is Lutz affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Lutz, for instance, where the median home price falls 78.9% higher than the national average, and monthly rent rates are 29.9% higher than usual. Additionally, median income levels contribute to the equation, with Lutz flaunting a median household income of $91,875, 66.1% higher than the national norm.

What Factors can Influence the Cost of Living in Lutz?

Urbanization: Larger, urban centers, known for their wealth of amenities and strong employment prospects, often exhibit an elevated cost of living, primarily attributable to the heightened demand for services and residential relocation. Consequently, this scenario leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural areas or regions characterized by diminished demand typically provide a more limited array of amenities and experience slower job market growth, resulting in a more affordable cost of living.

Healthcare: Healthcare costs and insurance premiums can fluctuate greatly based on the city or state. Access to healthcare facilities, out-of-pocket expenses for doctor\’s visits, dentist costs, medication costs and specialized care costs can all impact the cost of living. In Lutz, the healthcare costs are 8% lower than the national average.

Taxes: Cities that enforce higher taxes, covering both sales taxes and income taxes, can be a factor contributing to a higher cost of living. Paying more in taxes for everyday essentials like clothing and food inevitably leads to higher expenses. A higher income tax rate can further contribute to an overall elevated cost of living. In Lutz, the baseline sales tax rate begins at 6%, and income tax rates start at 0%.

Where is the Data From?

The cost of living data in Lutz 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 Lutz is 19% higher than the Florida average
  • The cost of living in Lutz is 17% higher than the national average
  • Lutz housing is 64% 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 Lutz

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Compare Lutz, 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$107,724$8,977$2,513$3,232
      Renters$44,261$3,688$1,033$1,328
      The affordability of the housing market in Lutz, 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 Lutz homeowners, the median income is $107,724. This indicates that a monthly maximum of $2,513 should be spent by homeowners on all housing related costs. Renters have a median income of $44,261. This indicates that renters would have a maximum of $1,033 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 Lutz National avg. Difference
      Haircut $15.67$24.2635.4%
      Beauty Salon $54.72$45.5620.1%
      Toothpaste $3.67$3.700.8%
      Shampoo $1.48$1.2815.3%
      Movie $8.61$12.1329.1%
      Bowling $19.67$18.009.3%

      Groceries

      Item Lutz National avg. Difference
      Ground Beef $6.06$5.843.8%
      Fried Chicken $1.48$1.575.7%
      Milk $4.56$4.672.3%
      Potatoes $5.34$4.938.1%
      Pizza $8.38$12.0930.6%
      Beer $10.69$10.412.6%

      Health Care

      Item Lutz National avg. Difference
      Optometrist $146.67$125.6816.7%
      Doctor $122.32$135.789.9%
      Dentist $103.33$113.298.8%
      Ibuprofen $10.74$10.650.8%
      Lipitor $523.90$468.6011.8%

      Housing

      Item Lutz National avg. Difference
      Home Price $330,400.00$184,700.0078.9%
      Avg. Mortgage Payment $1,846.50$2,346.6921.3%
      Apartment Rent $1,233.00$949.0029.9%

      Transportation

      Item Lutz National avg. Difference
      Gasoline $3.42$3.461.0%
      Tire Balancing $57.28$59.924.4%

      Utilities

      Item Lutz National avg. Difference
      All Electricity $219.66$193.9913.2%
      Phone $194.37$192.251.1%
      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.
      Moon Lake, FL4,2348317.1%
      Zephyrhills West, FL5,4098416.3%
      Bayonet Point, FL26,7048812.2%
      Dover, FL3,0989010.4%
      New Port Richey East, FL10,6519010.2%
      Lutz, FL22,87111716.6%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Dickinson, ND22,8801043.8%
      Marshall, TX22,8818911.2%
      Solon, OH22,85811414.0%
      Derry, NH22,89112120.8%
      Uxbridge, ON22,892n/a 
      Lutz, FL22,87111716.6%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.