Florida Has Become The US’ Least Affordable State & Here’s The Salary You Need To Live Here
It’s not all sunshine in Florida.
Inflation is hitting the United States pretty hard, but The Sunshine State is taking a huge hit in particular, making it the least affordable state in the whole country, according to CBS.
The cost of living in Florida is skyrocketing, with the price of gas, food, and housing steadily on the rise.
Data from Realtor reflects that housing prices in major cities like Miami are comparable to the average cost of rent in hubs like New York City, Los Angeles, and San Francisco.
However, the average household income hasn't caught up yet to other major cities', making a comfortable living less attainable for some Florida residents.
Florida has become a popular destination for out of state workers looking to move away from other big cities in the U.S.
A study by Redfin shows Miami as the number one most popular migration destination for those looking to relocate, followed by Tampa, FL at third, Cape Coral, FL at sixth, and North Port, FL at seventh.
\u201cflorida so expensive, i never looked at price tags more in my life \ud83d\ude2d\u201d— jake parks (@jake parks) 1653415405
As of 2022, the state's minimum wage is set at $10/hour but studies suggest residents will need almost double that in order to afford a comfortable living.
Though prices vary by city, data from MIT's living wage calculator shows a single adult with no children needs to earn on average at least $17.24 an hour, or $35,858 to support themself in the state.
Of course for families, the minimum salary is higher depending on the amount of dependents in your household, and if both parents are able to work.
On average, two adults with two children living off a single income can be expected to bring in around $77,475/year in order to cover living expenses.
These inflated prices directly affect Florida residents. A study by QuoteWizard suggests that 45% of residents experience "slight to moderate difficulty" meeting household expensive, and 22% are "having a very difficult time."
- Rental Prices Are Skyrocketing In These Southern Cities, Here's ... ›
- There's A Tiny Secret Island Full Of Billionaires In Florida & They Are ... ›
- 6 Hilarious TikTok Videos That Show How Ridiculously Expensive ... ›
- Things That Had Me Culture Shocked When I Left The Deep South To Move To California - Narcity ›
- These Actresses From Florida Were Named As Some Of The Hallmark Channel’s Richest Stars - Narcity ›
- The US’ Most Affordable Flights Are From These 4 Florida Airports - Narcity ›
- I'm On The Apartment Hunt In Florida & A Realtor Said My Expectations Were Too High - Narcity ›
- The Most Expensive Home In Georgia Is Over $17 Million More Than One Of The Cheapest - Narcity ›
- This Florida City Is Now One Of The Most Expensive Cities In The World To Live The High Life - Narcity ›
- You Don't Need To Earn As Much To Be Considered Rich In The Least Affordable State In The US - Narcity ›
- Georgia Residents Are Getting Another Stimulus Check & Here’s How You Can Get Up To $500 - Narcity ›
- This TikToker Is Asking People In Atlanta For Their Yearly Salary & It’s Eye-Opening - Narcity ›
- You Can Save Money In Florida On These Products And Fun Activities This July & Here’s How - Narcity ›
- These Cities With Some Of The Cheapest Rent In Georgia Aren't All 'Out In The Sticks' - Narcity ›
- A 31-Year-Old Lives In A Florida Retirement Home & TikTok Is So Jealous - Narcity ›
- Georgians Are Getting Another Relief Check & Here’s How You Qualify For $350 - Narcity ›
- Cities In The US With Low Cost Of Living That You’d Actually Want To Move To - Narcity ›
- Many Georgia Cities Ranked In The Top 25 For The Highest STD Rates In The US - Narcity ›
- These Florida Cities Have Astronomical Home Prices Compared To Typical Market Predictions - Narcity ›
- These Are The Cheapest Places To Live In Florida & You Probably Never Heard Of Them - Narcity ›
- People In Uber-Expensive LA Shared Their Salaries & They're Lower Than You'd Think (VIDEO) - Narcity ›
- I Live In USA's Least Affordable State & These Are 10 Things I Do Every Month To Save Money - Narcity ›
- This Man Is Asking San Francisco Locals How Much Their Rent Is & It's Lower Than Many Expected - Narcity ›
- Ron DeSantis Has Tax Relief Plan For Florida & Here's What You Can Save Money On This Year - Narcity ›