Lakewood Ranch, Florida, shows a higher cost of living compared to the nationwide average. The overall cost of living index in Lakewood Ranch stands at 108, reflecting an 8% increase. Housing costs significantly contribute to this rise, with an index of 120, indicating 20% more than the average.
In addition, certain sectors like groceries and transportation also exceed the national average. Groceries have an index of 105, which means they are 5% more expensive, and transportation costs are 10% higher with an index of 110. These factors collectively paint a picture of a community where living expenses are slightly above the national benchmark.
Lakewood Ranch, FL, shows a higher cost of living index in most categories compared to the nationwide average, which is set at 100. Notably, the housing index is 20% higher at 120, which means housing costs are significantly above the national average. This suggests that potential residents might need to budget more for rental or mortgage expenses.
In addition to housing, other costs in Lakewood Ranch also surpass the national average. For example, groceries cost 5% more at 105, while utilities are slightly lower at 95. Transportation costs are also 10% higher at 110, reflecting increased expenses for commuting or owning a vehicle. However, healthcare costs are just 2% above average at 98, and miscellaneous expenses are just 2% higher at 102. These insights help job seekers understand what to expect in terms of living expenses in Lakewood Ranch, FL.
