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.
ost 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
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 Melbourne, and you currently make $50,000 per year, the formula is as follows
Take the destination index, in this case Melbourne-98.0 and divide by Portland’s index-120, then multiply by a salary of $50,000. This will give you a figure of $40,833.00 which would be required to make in Melbourne to have the same quality of life.
A personal observation: Melbourne is a small city and so the drive time to shopping, recreation etc is short…meaning you won’t burn as much gas, which in this day and age is definitely a help. I find the car insurance and home insurance rates very reasonable. (If you live on or near the water and require flood insurance, the rates will be higher)
In conclusion, Melbourne is a great place to live.
For overviews on the other Space Coast or Brevard County areas like Cocoa, Titusville and Palm Bay, see the dropdowns to the left.
Comments (0)Subscribe to CommentsComment