You are headed to the Emerald Coast and you are curious about if you should rent or buy when you move here? Well, let us talk about it. What is going on, this is Andrew with the Emerald Group right
Cost of Living in Niceville Florida
Dated: August 21 2020
You are considering moving to Niceville Florida, or you are headed our way soon and you want to know what the cost of living is here. Well we are going to talk about the cost of living here via housing prices, renting, buying groceries, health insurance and we will even do some comparisons from across the country.
We came up with the most important cost of living items to look at when you are relocating here, so whether you plan to move here, just doing a little research, or you just got orders to move to one of our local bases, we have your back with everything you need to know. We are going to jump right into the cost of living here in Niceville, but be sure to stick around until the end when we compare some of the countries biggest cities, and see how they stack up to our “nice” city.
· housing prices
o Median home price in Niceville is $316,000 as of 2020 Year to date
o According to the National Association of Realtors® (NAR), the national median sales price for existing single-family homes in February 2020 was $272,400, up 8.1% from the previous year; the national median existing condo price was $249,900. In California, the statewide median sales price for single-family existing homes in February was $579,770; in Massachusetts, it was $395,000; in Maryland, it was $295,000; and in New York, it was $301,000.
o rental prices are higher than buying per month
o 3-bedroom, average price in Niceville is $1479
§ For reference, the National Average for a 3 Bedroom home for rent is $1,537
o 4-bedroom, average price in Niceville is $1,840
§ For reference, the National Average for a 3 Bedroom home for rent is $1,791
· Utilities, average overall
o For a 1600 sq foot home you can expect about 100 bucks per month for the cooler months and creeping up to 180 per month during May, June, and July.
o Water and sewer can run about $40 to $60 assuming you do not have a pool, with a pool and sprinkler system, mine generally hits about a hundred bucks per month
o Internet average is about $60
o If you are fortunate to have gas you can expect it to stay fairly low, around $20 to $40
· Gas prices, averages, they may change but comment down below and ill tell you what it is, as of May 2020 they are $1.49, though we are mid COVID 19 as I shoot this video and prices have dropped from about $2.49 in January
· Meals, going out to eat, around
o You can expect a lunch meal to be around 12 bucks per person, maybe about 15 bucks plus tip in most normal lunch spots in and around Niceville. If you do Dinner and add a few drinks and a friend or spouse, plus tip, most of our restaurants will cost you around 50 bucks for that good time
· Groceries, average compared to the rest of the country
o According to the folks at numbeo.com, you can expect to spend just shy of $300 bucks per person in groceries, assuming a western diet – compare that to the USA where the average is $341.55. That is $172 bucks cheaper for a family of four in groceries compared to the national average
· Sales tax? Do we have it, how much
o Here in Okaloosa County they are 6.5%
· Income tax? Do we have it, how much
o Florida is one of 9 states without state income tax, probably why it is such an attractive place for people to move to
· Health care, compare to the country, plus an average sort of idea of a healthcare plan
o According to valuepenguin the average healthcare cost in Florida is around $450 per month, or $5,304 per year
· Cost of living in comparison to other big cities
o Let us compare this to a few cities, assuming a nationwide average Household income for that particular city, according to bestplaces.net
o First with Florida’s capital, Tallahassee, Niceville is about 13.4% more expensive to live in, home prices being the main factor.
o Atlanta, another great city near us is a mere 0.7% less expensive overall
o When we look to Texas, we look at Austin, Texas which is approx. 10.2% more expensive than Niceville.
o Heading over into Las Angeles, in comparison to Niceville it is 60% more expensive to live in LA, YIKES!
o And lastly, we can’t leave out New York City which is 72.9% more expensive to live in, over Niceville, WOW!
o Now those last few don’t surprise me but what does surprise me is that for how great the schools are out in Niceville, and how close to our beaches and our tourist centers, that the pricing still stayed on par or under most of the country!
Don’t forget that if you are wanting to move into the Niceville or surrounding area’s to give us a call, shoot a text, or send an email – however you would like to get a hold of us, we will be here. That’s it, LET’S GO TO THE BEACH!
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