Saturday, February 11, 2006

Fort Myers Cost of living

Ft Myers and Lee County Cost of Living
The cost of living index is based on the composite price of groceries, housing, utilities, transportation, health care, clothing and entertainment.

Cost of living indexes will generally be higher in areas that offer access to beaches, culture, arts and recreation. In addition areas, that offer a wider variety of services such as health and education will run higher due to higher wages, and increased quality of living.

Cost of living indexing explanation
• A figure of 100 points is used as an average both for the USA and Florida. For example:
• Boise Idaho is ranked at a 99
• Boston Mass is rated at 240
• San Francisco at 217
• Orlando Fl is 99 and Miami is 116
• Statewide, Florida cities come in from a low of 90 and up.

• One way to compare Florida areas to salary requirements
For example-If you were relocating from Portland Oregon (whose rate 1s 120) to Orlando, and you currently make $50,000 per year, the formula is as follows
• Take the destination index, in this case Orlando-99.8 and divide by Portland’s index-120, then multiply by a salary of $50,000. This will give you a figure of $41,583, which would be required to make in Orlando and have the same quality of life.

Lee County is a great place to live. The cost of living index is 103.0 or just above the national average. See statistics below.

Median home cost, as of mid 2005 $281,000
Lee County offers affordable living with a composite cost of living of 103.0 which is just above the U.S. average.
*The average for all participating places equals 100, and each area/cities index is read as a percentage of the average for all places.
The Index does not measure inflation (price change over time).
• Information from Accra-Third qtr 2005

• Daytona 101.0
• Ft Lauderdale 117.4
• Jacksonville 92.7
• Miami/Dade 115.4
• Orlando 100.8
• Pensacola 97.1
• Sarasota 107.0
• Tampa 97.2
• Ft Myers 103.0
• Clearwater 94.3
• St Pete 94.3
• Bradenton 95.8
• Gainesville 99.4
• Port Charlotte 95.4
• Fl Keys 112.43
• West Palm Beach 114.1
• Naples 122.9
• (Population Weighted-State Average=100
See national comparisons
Cost of living (100 = nationwide average)

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