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
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 Vero Beach, and you currently make $50,000 per year, the formula is as follows
Take the destination index, in this case Vero-103.4 and divide by Portland’s index-120, then multiply by a salary of $50,000. This will give you a figure of $43,083.00 which would be required to make in Vero Beach to have the same quality of life.
See comparable Florida statewide
* Re cost of living--in some areas Real Estate has went up dramatically however costs that factor in such as food, transportation, rents etc have not increased at the same rate-so in some areas, even though housing is expensive, the overall rating may still be low
The Vero Beach area (Indian River County) is ranked at 103.4 on the price index.
For more information about cost of living stats go to http://www.coli.org
A personal observation: Vero Beach 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)