B-
13%
Overall NAT. AVG.
1%
Goods & Services NAT. AVG.
51%
Housing NAT. AVG.
Search Homes for Sale
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 Viera East Florida National
Cost of living11398100
Goods & Services10198100
Groceries9899100
Health care9296100
Housing15196100
Transportation9599100
Utilities9097100

An Overview of Cost of Living in Viera East, FL

Getting a feel for the cost of living in Viera East 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 Viera East is 113, which is 13% 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 significantly influence the Viera East 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 50.6%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.

Is Viera East Affordable?

Wondering if Viera East is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Viera East, for example, the median home price is 48% higher than what folks pay nationally, and monthly rent is 56.9% higher than the usual rates. Plus, income levels matter too, with Viera East boasting a median household income of $74,045, which is 33.8% higher than the national average.

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

Taxes: Areas with higher taxes, including sales taxes and income taxes, can contribute to a higher cost of living. Paying more tax for everyday goods and services like clothing and food will result in higher costs, as will paying a higher rate of income tax. The general sales tax rate in Viera East starts at 6% and the income tax rates start at 0%.

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 Viera East, the transportation index is 4.8% lower than the national average.

Utilities: As with the prices of anything else, utility costs can exhibit significant variations, contingent on factors like climate, energy source availability, geographic location and state regulations. The expenses associated with electricity, water, heating, and waste disposal can fluctuate, either upward or downward, depending on the particular city or state. In Viera East, the utilities index registers 9.9% lower than the national average.

Where is the Data From?

The cost of living data in Viera East displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

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Cost Of Living Quick Facts

  • The cost of living in Viera East is 16% higher than the Florida average
  • The cost of living in Viera East is 13% higher than the national average
  • Viera East housing is 51% 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 Viera East

See all the best places to live around Viera East

Compare Viera East, 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$87,248$7,271$2,036$2,618
      Renters$49,481$4,123$1,154$1,485
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Viera East, 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 Viera East homeowners, is $87,248. This would allow for a maximum of $2,036 per month to be spent on housing costs. For renters, the median monthly income is $49,481 which would result in a maximum of $1,154 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 Viera East 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 Viera East 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 Viera East 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 Viera East National avg. Difference
      Home Price $273,300.00$184,700.0048.0%
      Avg. Mortgage Payment $2,463.53$2,346.695.0%
      Apartment Rent $1,489.00$949.0056.9%

      Transportation

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

      Utilities

      Item Viera East 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.
      Cocoa West, FL5,9668910.5%
      Cocoa, FL20,151919.1%
      Sharpes, FL2,752955.3%
      Melbourne, FL82,2811000.2%
      Port St. John, FL23,9401000.1%
      Viera East, FL12,28411313.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Beatrice, NE12,2828811.6%
      Waconia, MN12,28111413.9%
      Malibu, CA12,280334234.3%
      Leon Valley, TX12,279964.4%
      West Plains, MO12,2908020.4%
      Viera East, FL12,28411313.4%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.