A-
12%
Overall NAT. AVG.
1%
Goods & Services NAT. AVG.
48%
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 Minneola Florida National
Cost of living11298100
Goods & Services10198100
Groceries9899100
Health care9296100
Housing14896100
Transportation9599100
Utilities9097100

An Overview of Cost of Living in Minneola, FL

Understanding the cost of living in Minneola can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Minneola cost of living index is 112, which is 12% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.

Housing costs significantly influence the Minneola cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 47.5%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.

Is Minneola Affordable?

Is Minneola an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Minneola is 40.1% higher than the national average, while the average monthly rent prices are 64.8% higher than average. The affordability of any location can also be influenced by median income levels. Minneola has a median household income of $72,764, which is 31.5% higher than the national average.

What Factors can Influence the Cost of Living in Minneola?

Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In Minneola, the transportation index is 4.8% lower than the national average.

Taxes: Cities that impose higher taxes, including sales and income taxes, can contribute to an escalated cost of living. The added expense of taxes on everyday goods like clothing and food naturally results in higher overall costs. Similarly, a higher income tax rate can further elevate the cost of living. In Minneola, the general sales tax rate starts at 6%, and income tax rates begin at 0%.

Healthcare: Healthcare costs and insurance premiums can fluctuate greatly based on the city or state. Access to healthcare facilities, out-of-pocket expenses for doctor\’s visits, dentist costs, medication costs and specialized care costs can all impact the cost of living. In Minneola, the healthcare costs are 7.6% lower than the national average.

Where is the Data From?

The Minneola cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Minneola is 15% higher than the Florida average
  • The cost of living in Minneola is 12% higher than the national average
  • Minneola housing is 48% 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 Minneola

See all the best places to live around Minneola

Compare Minneola, 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$83,550$6,963$1,949$2,507
      Renters$49,700$4,142$1,160$1,491
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Minneola, FL, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Minneola homeowners, is $83,550. This would allow for a maximum of $1,949 per month to be spent on housing costs. For renters, the median monthly income is $49,700 which would result in a maximum of $1,160 to be spent on rental costs.

      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 Minneola National avg. Difference
      Haircut $26.53$24.269.4%
      Beauty Salon $55.13$45.5621.0%
      Toothpaste $3.84$3.703.8%
      Shampoo $1.48$1.2815.8%
      Movie $13.54$12.1311.6%
      Bowling $19.87$18.0010.4%

      Groceries

      Item Minneola National avg. Difference
      Ground Beef $6.26$5.847.1%
      Fried Chicken $1.40$1.5711.0%
      Milk $4.58$4.671.9%
      Potatoes $5.23$4.936.0%
      Pizza $13.13$12.098.6%
      Beer $11.07$10.416.3%

      Health Care

      Item Minneola National avg. Difference
      Optometrist $118.44$125.685.8%
      Doctor $137.00$135.780.9%
      Dentist $125.36$113.2910.7%
      Ibuprofen $10.89$10.652.2%
      Lipitor $446.86$468.604.6%

      Housing

      Item Minneola National avg. Difference
      Home Price $258,800.00$184,700.0040.1%
      Avg. Mortgage Payment $2,463.53$2,346.695.0%
      Apartment Rent $1,564.00$949.0064.8%

      Transportation

      Item Minneola National avg. Difference
      Gasoline $3.39$3.462.1%
      Tire Balancing $57.07$59.924.8%

      Utilities

      Item Minneola National avg. Difference
      All Electricity $190.71$193.991.7%
      Phone $194.67$192.251.3%
      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.
      Lake Buena Vista, FL4972.6%
      Tildenville, FL43972.6%
      Okahumpka, FL1437722.6%
      Lake Butler city, FL2,1858118.7%
      Bay Lake, FL438416.3%
      Minneola, FL12,22311212.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Cottonwood, AZ12,2281043.8%
      Mays Chapel, MD12,22913332.9%
      Ringwood, NJ12,22912828.4%
      Holiday City-Berkeley, NJ12,2161088.0%
      Orange City, FL12,232964.1%
      Minneola, FL12,22311212.4%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.