Cost of living in Orlando

The cost of living in America seems to be on the rise by the day due to an increase in the cost of commodities and utilities which are not consistent with the current salaries. Whenever prices of products are always increasing against a fixed salary, it causes the salary not to sustain your living making it difficult for you to survive. It is therefore essential to have a salary that can cater to all the needs that you have and enable you to save otherwise it will result to you straining. This will cause a lot of uproar among the population which will require a lot of attention from the policymakers.

Orlando, FL is one of the most notable cities in America. Mostly because it’s the home of Disneyland. However, the charm and beauty of this city go far beyond that. The city is alive with people of all sorts of cultures and backgrounds coming together to make their lives better for them and their loved ones. Let’s take a look at the cost of living in Orlando and correlate.

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Salaries

Studies have shown that the salaries among the teachers and instructors in Orlando can earn a salary from as low as $40000. This salary is determined based on the number of years that you have worked. If you possess any degrees, they can come in handy and give you a higher salary range. Due to the best scholarship programs available in Orlando, it has led to the attraction of the best quality in the teaching profession. This bonus payment is given priority to the first year teachers as well as the returning teachers. This kind of salary advantages has enabled people in Orlando to be able to offset the ever-increasing costs that tend to reduce your income and leave an amount for saving and even invest.

Benefits

In Orlando, Orange County Public Schools have been able to provide a wide range of insurance benefits which may include but not limited to medical insurance, life insurance. These benefits may also include some voluntary benefits such as dental insurance, vision insurance, and disability insurance. Having these benefits will ensure that you don’t need to tap into your cash to cover for health expenses. These costs may be used to perform other functions that will add value to your life.

Taxes

Florida is one of the low tax states in America. As such, taxes don’t have a huge role to play in the cost of living which is a big plus for most people. When it comes to effective property tax rates, the state clocks in at 1.1% which is well below the national average. What’s more, the state also doesn’t have any income tax which also attracts a lot of people there for retirement. Florida has a statewide sales tax of 6%. Orlando adds 0.5% on top of that to make it a combined sales tax of 6.5% on all items. There is also a special communications tax which means that residents of Orlando have to pay an extra 6.65% on all internet, phone and television services.

Moving costs

Moving is a common act in Orlando because people are always looking for new opportunities or new experiences. This may lead to costs which may reduce your monthly or annual income. It has been researched that the total cost of moving around Orlando may range between $500 and $4000. It should also be noted that if one decides to move out of the state, it would cost $1000. These costs may include transportation of property as well as taxes.

Home prices

Although Orlando was also hard hit by the housing market crash, it is recovering. For those willing to put down that deposit, the price of a home in Orlando is $200,000. Although expensive than some of the other major cities in the US, it’s not the priciest. For those that want to rent, a studio apartment averages for about $1,100 which is well within the U.S average. For a one-bedroom apartment, you can expect to part with an average of $1230, $1,650 for a two-bedroom apartment and $1,900 per month for a three-bedroom apartment. These numbers of course change depending on whether you want to live in an expensive area or an average area.

Orlando’s energy prices are on the higher side with average prices coming in at $170 according to the U.S. Energy Information Administration (EIA). Miscellaneous utilities for two people in one month is estimated to be $181.The Internet has become a necessity. Most internet providers according to digital exists will contribute to internet costs of up to $51 per month.

Related: Factors affecting Land Value

Healthcare

Healthcare is a critical and crucial aspect to consider when moving somewhere. In Orlando, a visit to the primary care physician costs an average of $130. This is higher than the national average by 9%. Figures by the U.S. Energy Information Administration (EIA) show that insurance premiums did indeed rise by 12%between 2014 and 2018. This means that the average premium for a catastrophic plan in Orlando is $260.

Transportation

Like most major cities, most people get around using cars. The price of a gallon of regular unleaded averages at $2.79 which is better than the $2.87 national average as of this writing. Those that can only afford public transport have to cough up to $50 per month to sustain their movements in and around Orlando. The average commute time in Orlando is 25.78 minutes which is just at par with the national average (25.4 minutes)

Food

Due to the year-round warmth and sunshine in Orlando, people with a little more space on their properties choose to garden. However, prices for groceries is a bit higher than the national average. Young adults average about $173 per week on food which is more than the average for the older people in Orlando. That’s probably because most young adults don’t do a lot of home cooking. Those with income of more than $75,000 reported using an average of $180 per week. Those earning from $30,000 to $74,999 reported spending about $150 and $120 for the lowest income group.

Regarding restaurants, the city has a mix of cultures which also means a wide range of cuisine to play with. Restaurants around the resorts tend to be pricier so be prepared to pay more than $25 for a meal there.

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