(The Center Square) – The Miami-Fort Lauderdale-Pompano Beach metro area has the highest living costs in Florida, according to a new report.
The nonpartisan Tax Foundation analyzed data from the U.S. Bureau of Economic Analysis to try to find the real value of $100 in metropolitan areas
The report found $100 is good for only $89.7 worth of goods and services when compared to the U.S. average in Miami and Fort Lauderdale on Florida’s southeast coast.
That still trails the worst areas in the San Francisco Bay area such as Alameda, San Mateo and Marin, where $100 only buys $84.82. According to the report, that is likely because of differences in housing costs.
The average price of a house in the Miami-Dade metro area is $625,000, which dwarfs the average price of a house statewide at $392,176
Other metro areas in the Sunshine State fare much better, with only a few where $100 has less purchasing power, such as Naples ($97.6), Cape Coral-Fort Myer ($98.3), North Port-Sarasota-Bradenton ($98.6) and Orlando-Kissimmee-Sanford ($99.6).
The Tampa Bay area has a lower cost of living, where $100 buys $100.30 worth of goods and services. Jacksonville has a measure of $101.50, while Daytona Beach comes in at $101.20.
Sebring and Avon Park in the central part of the state have the best purchasing power, where $100 will buy $110.90 worth of goods and services, followed by the massive retirement community known as the Villages ($109.40), Ocala ($106.30), state capital Tallahassee ($105.80) and Homosassa Springs on the Gulf Coast ($105.5).
Other notables include the Panhandle’s metro areas of Pensacola ($104.70), Fort Walton Beach ($102.10) and Panama City ($102.60).
At the home of the University of Florida, Gainesville, residents received $103.70 with of goods for every $100 spent. Sebastian-Vero Beach on the east coast had a measure of $104.80.
Also on the Atlantic, residents of Palm Bay, Melbourne and Titusville received $100.70 for every $100 spent.
On the Gulf Coast, Punta Gorda residents received $104.20 in goods and services for every $100 spent.