Cost of Living in Belle Glade, FL

An Overview of Cost of Living in Belle Glade, FL

Getting a feel for the cost of living in Belle Glade is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Belle Glade is 91, which is 9% lower than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

Everyday expenditures like food, housing, goods and services, transportation and health care in Belle Glade are priced in a manner consistent with other areas. This means that residents of Belle Glade can anticipate their daily expenses remaining reasonably similar to those in an average city, thereby supporting a manageable cost of living.

Is Belle Glade Affordable?

Is Belle Glade an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Belle Glade, the median home price is 37.5% lower than what most folks pay across the country, and monthly rent prices are 32.8% lower than the usual rates. Income levels in Belle Glade come in at $28,028, which is 49.3% lower than the national average.

What Factors can Influence the Cost of Living in Belle Glade?

Transportation: In areas where public transportation is scarce or unavailable, residents often find themselves compelled to own and upkeep vehicles, thereby increasing the overall cost of living. Monthly expenses encompass fuel, insurance, routine maintenance and potentially lease or financing payments. In Belle Glade, the transportation index is 1.1% higher than the national average.

Housing: When there's a high demand for housing in trendy places, it can cause property prices and rental rates to soar, leading to a significantly higher cost of living. Conversely, in less desirable locations, where demand is low, prices tend to decrease, resulting in a more budget-friendly cost of living. In Belle Glade, the housing index is 36.1% lower than the national average.

Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday goods and services, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Belle Glade, the standard sales tax rate starts at 6%, and the income tax rates commence at 0%.

Where is the Data From?

The cost of living in Belle Glade, 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.