Is $60K A Year Considered A Good Salary In Florida?

With its warm weather and lack of state income tax, Florida is an appealing place to live for many Americans. But does an income of $60,000 allow you to live comfortably there? In short – it depends.

In this comprehensive guide, we analyze the cost of living in different Florida cities and regions to determine if $60k per year provides a decent standard of living. We’ll examine average rents, home prices, taxes, healthcare, transportation and other costs. We’ll also look at how lifestyle factors like family size can impact budgets. Read on for a detailed analysis of whether $60,000 represents a good salary in the Sunshine State.

Breaking Down the Cost of Living in Florida

When considering whether $60k a year is a good salary in Florida, it is important to take into account the cost of living in the state. Florida is known for its beautiful beaches, sunny weather, and vibrant cities, but it also has its share of expenses.

Let’s break down the cost of living in Florida to see how far $60k can take you.

Overview of Average Rents, Home Prices, and Utilities

One of the largest expenses for individuals or families is housing. In Florida, the average rent for a one-bedroom apartment is around $1,200 per month, and for a two-bedroom apartment, it can go up to $1,500 or more depending on the location.

If you’re considering buying a home, the median home price in Florida is around $250,000. However, keep in mind that these prices can vary greatly depending on the city or neighborhood you choose.

Aside from housing, utility costs also play a significant role in the cost of living. The average monthly utility bill in Florida ranges from $150 to $200, which includes electricity, water, and internet. It’s important to factor in these expenses when budgeting your $60k salary.

Grocery, Transportation, and Healthcare Costs

Grocery prices in Florida are relatively affordable compared to other states. On average, a single person can expect to spend around $300 per month on groceries. Transportation costs can vary depending on whether you own a car or rely on public transportation.

Gas prices in Florida are typically lower than the national average, but owning a car comes with additional costs such as insurance and maintenance.

Healthcare costs in Florida are also an important consideration. The state offers a variety of healthcare options, but the cost can vary depending on factors such as your age and health condition. It’s important to factor in health insurance premiums, deductibles, and copayments when budgeting your salary.

Miscellaneous Expenses like Entertainment

Florida is known for its vibrant entertainment scene with theme parks, beaches, and cultural attractions. While it’s great to enjoy all that Florida has to offer, it’s important to budget for these activities.

The cost of entertainment can vary depending on your preferences and the activities you choose to engage in. It’s always a good idea to set aside some money for leisure activities and hobbies.

Variations in Cost of Living by Region

When considering whether $60,000 a year is considered a good salary in Florida, it’s important to take into account the variations in the cost of living across different regions. Florida is a diverse state with a range of urban centers, rural areas, tourist hotspots, and beach communities.

The cost of living can vary significantly depending on where you choose to live.

Comparing major metros like Miami, Tampa, Orlando

Major metropolitan areas in Florida, such as Miami, Tampa, and Orlando, tend to have a higher cost of living compared to other parts of the state. These cities offer a wide range of amenities, entertainment options, and job opportunities, but they also come with a higher price tag.

Housing costs, transportation expenses, and healthcare costs are typically higher in these urban centers. However, salaries in these areas may also be higher to compensate for the increased cost of living.

According to Numbeo, a website that compares cost of living data between cities, the cost of living in Miami is about 11% higher than in Orlando. This means that $60,000 a year in Miami may not stretch as far as it would in Orlando.

Rural areas vs tourist centers

In contrast to the major metros, rural areas in Florida generally have a lower cost of living. These areas often offer a slower pace of life, more affordable housing options, and lower expenses for groceries and utilities.

However, job opportunities may be more limited in rural areas, and salaries may be lower as well. It’s important to consider the trade-offs between lower living costs and potential career prospects when deciding where to live in Florida.

On the other hand, tourist centers in Florida, such as Key West or Destin, tend to have a higher cost of living due to their popularity among vacationers. These communities may have higher housing costs, inflated prices for goods and services, and a higher demand for certain professions related to the tourism industry.

While living in a beach community can offer a unique lifestyle, it’s important to factor in the higher cost of living when considering $60,000 a year as a salary.

Beach communities vs inland cities

Another factor to consider is the difference between living in beach communities versus inland cities. Beach communities often have a higher cost of living due to the desirable waterfront location and the influx of tourists.

Inland cities, on the other hand, may offer a more affordable cost of living while still being in close proximity to the beaches. Factors such as commute times, access to amenities, and personal preferences should be taken into account when deciding between the two options.

Ultimately, whether $60,000 a year is considered a good salary in Florida depends on various factors, including the specific region you choose to live in, your lifestyle preferences, and your personal financial goals.

It is always advisable to research the cost of living in your desired area and create a budget that aligns with your income and expenses.

The Impact of Lifestyle Factors on Budgets

When considering whether $60k a year is a good salary in Florida, it is important to take into account various lifestyle factors that can significantly impact one’s budget. These factors include whether an individual is single or married with a family, the costs associated with raising children, and any debt obligations like student loans.

Single vs married/family

The financial needs of a single person differ significantly from those of someone who is married or has a family. A single person may have lower living expenses and fewer financial responsibilities, allowing them to allocate a larger portion of their salary towards discretionary spending or savings.

On the other hand, married individuals or those with families have additional expenses such as housing, healthcare, and childcare. These expenses can consume a significant portion of their budget, making $60k a year a more modest salary for supporting a family in Florida.

Costs associated with children

Raising children can be expensive, and it is important to consider these costs when evaluating whether $60k a year is a good salary in Florida. According to the U.S. Department of Agriculture, the average cost of raising a child from birth to age 18 is estimated to be around $233,610.

This includes expenses such as housing, food, transportation, healthcare, education, and childcare. With these costs in mind, $60k a year may not provide as much financial flexibility for families with children compared to individuals without dependents.

Debt obligations like student loans

Another factor to consider when evaluating the adequacy of a $60k salary in Florida is any existing debt obligations, such as student loans. According to the Federal Reserve, the average student loan debt for college graduates in Florida is approximately $30,000.

Monthly loan payments can consume a significant portion of a person’s income and limit their ability to save or cover other expenses. If an individual has substantial student loan debt, it may be more challenging to make ends meet with a $60k salary.

Taxes and Take-Home Pay at $60k

Florida’s lack of state income tax

One of the advantages of living in Florida is that it does not have a state income tax. This means that individuals earning $60,000 a year in Florida do not have to pay state income tax on their earnings.

This can result in significant savings compared to residents of other states that do have a state income tax. It is important to note, however, that other taxes still apply in Florida.

Federal income and FICA taxes

While Florida may not have a state income tax, individuals earning $60,000 a year are still subject to federal income tax. The amount of federal income tax owed will depend on various factors, such as filing status and deductions.

Additionally, employees will also have to pay FICA taxes, which include Social Security and Medicare taxes. These taxes are automatically deducted from an individual’s paycheck and are based on a percentage of their earnings.

Sales, property, and other local taxes

In addition to federal taxes, individuals in Florida may also be subject to other taxes, such as sales tax, property tax, and other local taxes. The sales tax rate in Florida varies by county but is typically around 6-7%.

Property taxes are based on the value of the property and are levied by local governments. It is important to consider these additional taxes when evaluating take-home pay at $60,000 a year.

For more information on Florida taxes, you can visit the Florida Department of Revenue website. They provide detailed information on various taxes and resources to help individuals understand their tax obligations.

Steps to Stretch $60k in Florida

Finding affordable housing

One of the biggest expenses for anyone is housing, but finding affordable housing can help stretch a $60,000 salary in Florida. It is important to research different neighborhoods and compare rental prices or mortgage rates.

Websites such as Zillow ( or Apartment Finder ( can provide valuable information on housing options in different areas of the state. Additionally, considering shared living arrangements or looking for apartments or houses that offer utilities included can help reduce monthly expenses.

Cutting costs on food/transportation

Another way to stretch a $60,000 salary in Florida is by cutting costs on food and transportation. Planning meals ahead of time and cooking at home can save a significant amount of money compared to eating out.

Taking advantage of grocery store discounts, coupons, and buying in bulk can also help reduce food expenses. In terms of transportation, consider using public transportation or carpooling to save on gas and parking fees. Walking or biking when possible can also be a cost-effective and healthy option.

Enrolling in assistance programs if needed

If necessary, individuals earning $60,000 a year in Florida can consider enrolling in assistance programs to help further stretch their budget. Programs such as the Supplemental Nutrition Assistance Program (SNAP), Temporary Assistance for Needy Families (TANF), or Medicaid can provide financial support for food, healthcare, and other essential needs.

It is important to check the eligibility requirements and apply through the appropriate channels to access these programs.

By implementing these steps, individuals with a $60,000 salary in Florida can effectively manage their expenses and make the most out of their income. Remember, it’s all about finding creative ways to save money and make smart financial decisions.


While Florida’s relatively low cost of living makes $60,000 go further than in many states, lifestyle factors greatly impact budgets. Singles and couples without kids may live comfortably, but families will need to budget carefully and choose an affordable area.

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