Sunday, July 25, 2021

Cost of Living in Florida 2020 – How Much Does it REALLY cost to Live Here?

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The cost of living in Florida might be something you were wondering about. Especially since Florida is now the #1 state that people are moving to in 2020, overtaking the #1 spot from Texas.

It’s really no surprise, Florida is a pretty great place to live! I’ve been here for 12 years now, and I’m still here 😉

In this video I break down all sorts of things and give real life examples and approximations of how much things cost in Florida.

I cover housing, groceries, eating out, entertainment, taxes and more!

I’ve made several videos about moving to Florida so if you are serious about moving here, make sure to check out this playlist:

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  1. A heads up on real estate taxes. When you look at Zillow and see a low amount paid by the current owner, that may be the homestead rate over many years (FL law doesn't allow more than a 3% increase annually). When you purchase the property, you will pay the millage rate on the current value of the home which could be significantly higher.

    Michael is spot on regarding HOA fees. It's like paying rent forever even though you've paid off your mortgage. The special assessments, which are in addition to the regular fees, can be tens of thousands per household.

  2. Dude you make it sound expensive. Compared to Colorado that's really inexpensive. Our homes out west are running $800,000 over $1000000 now. My wife and I have a lot of equity in our home so if we paid $350,000 for a house down there our payments would be not anywhere near what you're talking about. I'm guessing you're talking about somebody that is a first time buyer.

  3. The rent prices are going up in South Florida. I’ve been looking for months for a place. I’m coming from New York. I don’t want to spend New York money. I don’t want to work to just pay the rent like you said 😩

  4. Glad I found this channel 💕 I’m not even planning to move . ☺️ I was just checking out where west Florida is . My friend moved from the Miami area to somewhere west .
    Anyway I subscribed because your videos are calm and informative and beautiful . Florida is beautiful . 💕🌴

  5. Does Florida have a local realtor website for outsiders to search? If I am looking at a cheap investment of 2 bed, 2 bath to rent out, which area would you recommend? What would be the pro and cons. Thanks for sharing your expertise.

  6. Thanks for the video…I have a question…how much should a single guy in his 30s have saved up before coming to let's say Miami?….what if I was bringing 15-20k? would I be okay starting out with no job immediately?

  7. It sounds like you and your significant other know how to be frugal and that's admirable. To be honest, I waited tables for many years in college and even now if my husband and myself get subpar service or food we rarely complain and we always tip very well because we're all human and have bad days. Take care.

  8. Can you answer this?
    Say we put down 100-150 K on a house but still owed 200 K… with a 20 yr mortgage.. in Florida.
    What would you roughly put the monthly mortgage cost at? Give or take $500 for additional HOA fees

    ( do people get to chose 10,20, or 30 yr mortgage there?
    I imagine yes but I really don’t know)
    Thanks 😊

  9. Omg 😱 Florida car insurance is outrageous!!! I have 7 vehicles in Ma.
    2014, 2011, 2008, 2000, 1999, and 2 older motorcycles. Own them all and monthly bill is $350
    Does it matter in Fla how good your driving record is? Is it that much to register older vehicles you own?

  10. Michael thank you so much for making this video it was very informative. I always wanted to buy a condo but my family would always suggest that I should buy a house. Now that you have mentioned the additional fees that a condo requires I have made my final decision. I now want to buy a house. 🙂 Thank you once again. You are the best!

  11. I clicked when I saw your hair! Stayed for the subject. I lived in South Beach at the tail end of its Renaissance in the mid to late '90's. It was a fabulous time. It was still bohemian , yet chic. Fashion shoots on the beach, well known celebs mingled with locals. It attracted the artsy and the beautiful. Then Will Smith made that song and killed it! All the people that made it fabulous were made unsafe and pushed out. Big chain stores, condos and the wrong element started hanging around. Still has its allure though it lost its reputation.

  12. Soooo would you say a average cosmetologist (26,562 average salary) that lives by herself could possibly live in Orlando (the area doesn't have to be perfect but at least kind of decent) in a studio apartment or more? And like still be happy??

  13. Hi Michael! What if I want to buy a home in FL, somewhere from Miami Beach to Hollywood beach? I would rent it out for short term guests (couple of days to a month). Which type do u recommend? I would buy applying for a mortgage. Nothing fancy. BTW! We are postponing our trip to Miami (going from Hungary) in November because we still cannot enter the country. We will be 13 (12 adults and one smaller kid.) Can u recommend us some place, a house or a big apartment or two apartments for 3 weeks or a month? Let's say from mid November.

  14. Hey. I just heard you say you lived in Illinois. Im in Chicago and really wanna moved to Florida. Is there really a huge cost of living difference between the two places? We both know Illinois can be very expensive. I dont have to live in the BEST area in Florida but i dont wanna live it the WORST part either. Just like in Chicago. Any advice? Thanks in advance. Great video btw

  15. What if I want to get a place outside of Miami but within decent driving distance to save money on a rental? Also I pay $110 for TMobile one line. I pay $1200 for liability in California

  16. I've always had my eyes on two states, Texas and Florida. Texas because the tech companies are migrating there (Computer Science major) and Florida.. well because it's nice there and my field is transferring over to remotely so now I don't really have to worry about moving to whatever state.


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