Cost Of Living in Lake Alfred, FL

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	Lake Alfred	Florida	National
Cost of living	93	98	100
Goods & Services	101	98	100
Groceries	98	99	100
Health care	92	96	100
Housing	82	96	100
Transportation	95	99	100
Utilities	90	97	100

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Cost Of Living Quick Facts

The cost of living in Lake Alfred is 5% lower than the Florida average
The cost of living in Lake Alfred is 7% lower than the national average
Lake Alfred housing is 18% lower 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

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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	$50,266	$4,189	$1,173	$1,508
Renters	$25,711	$2,143	$600	$771

To approximate the cost of living and the housing affordability in Lake Alfred, FL, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Lake Alfred have a median income of $50,266. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,173 per month to avoid calamity and poverty. The renters in the city have an income of about $25,711, which would make their monthly maximum allowable rental costs $600.

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	Lake Alfred	National avg.	Difference
Haircut	$26.53	$24.26	9.4%
Beauty Salon	$55.13	$45.56	21.0%
Toothpaste	$3.84	$3.70	3.8%
Shampoo	$1.48	$1.28	15.8%
Movie	$13.54	$12.13	11.6%
Bowling	$19.87	$18.00	10.4%

Groceries

Item	Lake Alfred	National avg.	Difference
Ground Beef	$6.26	$5.84	7.1%
Fried Chicken	$1.40	$1.57	11.0%
Milk	$4.58	$4.67	1.9%
Potatoes	$5.23	$4.93	6.0%
Pizza	$13.13	$12.09	8.6%
Beer	$11.07	$10.41	6.3%

Health Care

Item	Lake Alfred	National avg.	Difference
Optometrist	$118.44	$125.68	5.8%
Doctor	$137.00	$135.78	0.9%
Dentist	$125.36	$113.29	10.7%
Ibuprofen	$10.89	$10.65	2.2%
Lipitor	$446.86	$468.60	4.6%

Housing

Item	Lake Alfred	National avg.	Difference
Home Price	$135,400.00	$184,700.00	26.7%
Avg. Mortgage Payment	$2,463.53	$2,346.69	5.0%
Apartment Rent	$963.00	$949.00	1.5%

Transportation

Item	Lake Alfred	National avg.	Difference
Gasoline	$3.39	$3.46	2.1%
Tire Balancing	$57.07	$59.92	4.8%

Utilities

Item	Lake Alfred	National avg.	Difference
All Electricity	$190.71	$193.99	1.7%
Phone	$194.67	$192.25	1.3%

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.
Fussels Corner, FL	4,780	79	20.5%
Wahneta, FL	3,988	82	18.1%
Inwood, FL	7,196	86	14.4%
Combee Settlement, FL	6,173	87	13.1%
Crystal Lake, FL	6,211	87	12.9%
Lake Alfred, FL	5,993	93	7.3%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Snyderville, UT	5,995	180	80.4%
Maquoketa, IA	5,990	84	16.3%
Chesapeake Beach, MD	5,996	133	33.0%
District Heights, MD	5,996	120	20.1%
Pontiac, QC	5,989	n/a
Lake Alfred, FL	5,993	93	7.3%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

Cost of Living in Lake Alfred, FL