D+
20%
Overall NAT. AVG.
7%
Goods & Services NAT. AVG.
75%
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 East Lake Florida National
Cost of living12098100
Goods & Services9398100
Groceries10099100
Health care9296100
Housing17596100
Transportation10099100
Utilities9997100

An Overview of Cost of Living in East Lake, FL

Getting a feel for the cost of living in East Lake 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 East Lake is 120, which is 20% higher 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.

Housing costs make up a big chunk of the cost of living in East Lake, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 75.2% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.

Is East Lake Affordable?

Is East Lake 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 East Lake, for instance, where the median home price falls 89.2% higher than the national average, and monthly rent rates are 42.7% higher than usual. Additionally, median income levels contribute to the equation, with East Lake flaunting a median household income of $79,989, 44.6% higher than the national norm.

What Factors can Influence the Cost of Living in East Lake?

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 East Lake, the standard sales tax rate starts at 6%, and the income tax rates commence at 0%.

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 East Lake, the groceries index is 0.5% lower than the national average.

Utilities: Similar to the prices of any other goods or services, utility expenditures can exhibit substantial variability, influenced by factors such as climate, energy sources accessibility, geographical location and state regulations. Costs related to electricity, water, heating, and waste disposal can fluctuate, whether higher or lower, contingent on the city or state. In East Lake, the utilities index is 1.1% lower than the national average.

Where is the Data From?

The cost of living in East Lake, 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.

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Cost Of Living Quick Facts

  • The cost of living in East Lake is 23% higher than the Florida average
  • The cost of living in East Lake is 20% higher than the national average
  • East Lake housing is 75% 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 East Lake

See all the best places to live around East Lake

Compare East Lake, 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$88,239$7,353$2,059$2,647
      Renters$52,930$4,411$1,235$1,588
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in East Lake, FL, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In East Lake, homeowners have a median income of $88,239. Using that number, a maximum of $2,059 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $52,930, which means there is a maximum of $1,235 to be spent on the costs of renting a home or apartment.

      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 East Lake 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 East Lake 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 East Lake 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 East Lake National avg. Difference
      Home Price $349,400.00$184,700.0089.2%
      Avg. Mortgage Payment $1,846.50$2,346.6921.3%
      Apartment Rent $1,354.00$949.0042.7%

      Transportation

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

      Utilities

      Item East Lake 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%
      Holiday, FL21,0068713.2%
      New Port Richey, FL16,5428713.0%
      Beacon Square, FL7,0318712.7%
      South Highpoint, FL5,8448812.5%
      East Lake, FL32,38212019.9%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Fallbrook, CA32,35915555.3%
      La Verne, CA32,34616161.4%
      North Cowichan, BC32,420n/a 
      Elk Grove Village, IL32,45011817.7%
      Woodstock, GA32,31011211.8%
      East Lake, FL32,38212019.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.