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FLORIDA - A recent analysis finds that a single person in Florida must earn almost $100,000 annually to live comfortably without financial stress.
Data from financial advisory firm SmartAsset, which applied the popular 50/30/20 budget rule, allocated half of income for essential expenses, 30% for discretionary spending, and 20% for savings or debt repayment.
According to that framework, a solo adult in Florida would need about $97,386 per year, roughly $46.82 per hour, to cover housing, groceries, transportation, healthcare as well as fund hobbies, vacations and savings.
That places Florida at 22nd in affordability compared with other states.
For a family of four, the threshold rises sharply.
The annual combined income required in Florida is now estimated at $217,651, ranking the state thirty first in affordability for families.
Comparative figures from neighboring Georgia show single adults need around $99,590, while families of four require approximately $210,829 per year.
Hawaii tops the list in terms of single person cost of living, where one must earn roughly $124,467 annually to maintain a similar standard.
This study highlights that Florida’s rising living costs, fueled by factors such as inflation and population growth, continue to challenge residents’ financial stability despite the state’s income tax advantage.
National news outlets also caution that relocation savings may be offset by steep housing and insurance costs, particularly in states like Florida where property values have surged in recent years.