Cost Of Living in Sky Lake, 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	Sky Lake	Florida	National
Cost of living	99	98	100
Goods & Services	101	98	100
Groceries	98	99	100
Health care	92	96	100
Housing	102	96	100
Transportation	95	99	100
Utilities	90	97	100

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Cost Of Living Quick Facts

The cost of living in Sky Lake is 1% higher than the Florida average
The cost of living in Sky Lake is 1% lower than the national average
Sky Lake housing is 2% 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

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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	$66,902	$5,575	$1,561	$2,007
Renters	$34,776	$2,898	$811	$1,043

The affordability of the housing market in Sky Lake, FL as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Sky Lake homeowners, the median income is $66,902. This indicates that a monthly maximum of $1,561 should be spent by homeowners on all housing related costs. Renters have a median income of $34,776. This indicates that renters would have a maximum of $811 for their rent related monthly 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	Sky Lake	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	Sky Lake	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	Sky Lake	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	Sky Lake	National avg.	Difference
Home Price	$171,100.00	$184,700.00	7.4%
Avg. Mortgage Payment	$2,463.53	$2,346.69	5.0%
Apartment Rent	$1,180.00	$949.00	24.3%

Transportation

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

Utilities

Item	Sky Lake	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.
Tildenville, FL	43	97	2.6%
Lake Buena Vista, FL	4	97	2.6%
Lake Butler city, FL	2,185	81	18.7%
Bay Lake, FL	43	84	16.3%
Campbell, FL	2,262	85	15.1%
Sky Lake, FL	7,204	99	1.2%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Richland, MS	7,203	86	13.6%
Viola, NY	7,205	180	80.4%
Lexington, VA	7,205	104	3.8%
Batesville, MS	7,200	91	9.1%
Peace River, AB	7,200	n/a
Sky Lake, FL	7,204	99	1.2%

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 Sky Lake, FL