A+
2%
Overall NAT. AVG.
7%
Goods & Services NAT. AVG.
1%
Housing NAT. AVG.
Search Homes for Sale
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 Plant City Florida National
Cost of living9898100
Goods & Services9398100
Groceries10099100
Health care9296100
Housing10196100
Transportation10099100
Utilities9997100

An Overview of Cost of Living in Plant City, FL

The cost of living in Plant City 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 Plant City is 98, which is 2% lower than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

In Plant City, daily expenses such as food, housing, goods and services, transportation and health care are in line with comparable areas and about average when compared to all cities across the nation. This ensures that the cost of living in Plant City will resemble that of an average city, contributing to a manageable cost of living.

Is Plant City Affordable?

Is Plant City 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 Plant City, for instance, where the median home price falls 3% lower than the national average, and monthly rent rates are 11.3% higher than usual. Additionally, median income levels contribute to the equation, with Plant City flaunting a median household income of $54,933, 0.7% lower than the national norm.

What Factors can Influence the Cost of Living in Plant City?

Taxes: Areas with higher taxes, including sales taxes and income taxes, can contribute to a higher cost of living. Paying more tax for everyday goods and services like clothing and food will result in higher costs, as will paying a higher rate of income tax. The general sales tax rate in Plant City starts at 6% and the income tax rates start at 0%.

Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Plant City, the groceries index is 0.5% lower than the national average.

Subsidies: Some areas might offer government subsidies or assistance programs that help lower cost of living for residents. These programs can include anything from 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 crop subsidies. Areas that offer less subsidies, could see an increase in their cost of living.

Where is the Data From?

The cost of living in Plant City, 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.

New Real Estate Listings in Plant City Area
Search Homes for Sale in Plant City, FL

Cost Of Living Quick Facts

  • The cost of living in Plant City is equal to the Florida average
  • The cost of living in Plant City is 2% lower than the national average
  • Plant City housing is 1% 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 Plant City

See all the best places to live around Plant City

Compare Plant City, FL Cost of Living

      vs
      How would you rate the cost of living in Plant City?
      Write a review to give others more information about this area.
      Is the cost of living increasing or decreasing in Plant City?
      Write a review to give others more information about this area.
      See all Plant City poll results

      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$70,788$5,899$1,652$2,124
      Renters$38,536$3,211$899$1,156
      A good indicator of the general affordability of housing in Plant City, FL, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Plant City, the median monthly income is $70,788 for those who own their own homes. Under the standard rule, that income level would allow for $1,652 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $38,536, per the median income in the area. That would allow for renters to spend up to $899 on monthly rental expenses.

      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 Plant City 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 Plant City 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 Plant City 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 Plant City National avg. Difference
      Home Price $179,100.00$184,700.003.0%
      Avg. Mortgage Payment $1,846.50$2,346.6921.3%
      Apartment Rent $1,056.00$949.0011.3%

      Transportation

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

      Utilities

      Item Plant City 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.
      Zephyrhills South, FL5,2487921.3%
      Mulberry, FL4,1348217.8%
      Zephyrhills West, FL5,4098416.3%
      Combee Settlement, FL6,1738713.1%
      Crystal Lake, FL6,2118712.9%
      Plant City, FL39,437982.3%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Los Banos, CA39,44312525.2%
      Carol Stream, IL39,44711414.3%
      Meadow Woods, FL39,42411110.7%
      Keizer, OR39,40811818.3%
      Lake Oswego, OR39,47616767.4%
      Plant City, FL39,437982.3%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.