Florida Residents Need A Salary Of $109,725 A Year To Be Happy
Well, consider me depressed. GOBankingRates has published some fresh data showing how inflation has affected our income needs. And that number is a bit daunting to many of us. They say Florida residents need a salary of nearly $110 thousand a year to be happy. Unfortunately, the median household income in Florida is $61,777 and the average household income is $88,267. So if you wonder why so many people seem mad, well – here it is. Just driving through Fort Myers over to Cape Coral, it’s amazing how many people are DWA. Driving While Angry.
Things that drain a Florida Residents Salary
First up, inflation. Nearly everything costs more than it used to. But this isn’t a Florida specific problem. It’s a nationwide issue. Housing and insurance factors greatly as well. Especially here in Florida. If you pay rent, you’re probably paying a lot more. Likewise, if you own a home, your insurance is likely a lot more. If you own a vehicle, your insurance is likely a lot more. All of these things stack.
That number is much higher in other states
Unemployment is low in Florida at 2.5%. probably because we all have 2 jobs. And, as the article states “While you do need to make a bit more than $109,000 to be happy here, well-being is possible at $62,700.” See – $63K a year household income in Florida is a lot more doable. And as I said, the number is much higher in some other states. In Hawaii, the annual salary to be happy is $195,300. In Massachusetts, that number is $157,395. California, with one of the highest unemployment rates in the nation, is at $145,635. New York isn’t much better, at $142,485. This is why so many of them are moving to Florida. Even with our huge price jumps in real estate and insurance, it’s still a better deal than where they’re coming from.
Florida Residents Salary Is Affected By Location
Florida is a big state. If you want to live in Miami or any of the other big cities, things are going to be more expensive. And you need to get paid more. Fort Myers, is relatively cheap compared to many other Florida cities. And if you really want to save, move away from the coast. I live in Estero and a quick check showed me that I can get a comparable home in Lakeland for half or what my house is valued at. Here’s a look at where people are moving to.