Richmond West, FL Cost Of Living
Cost Of Living In Richmond West, FL Summary
Cost of living in Richmond West research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Richmond West is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Florida, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Richmond West is 132, with 100 being the average.
The cost of living index in Richmond West is 1.3x higher than the national average.
Richmond West ranks as the #415 cheapest in Florida out of 459.
Richmond West ranks as the #5,080 cheapest out of 6,489 in the US.
The median home value in Richmond West is $520,815.
The median income in Richmond West is $96,282.
Table Of Contents
Richmond West's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Richmond West, FL?
According to the most recent data on the cost of living, Richmond West has an overall cost of living index of 132, which is 1.3x higher than the national index of 100.
Compared to Florida, Richmond West has a cost of living index that's 1.4x higher than Florida's index of 97.
The standard of living in Richmond West ranks as #415 most affordable out of the 459 places we measured in Florida. By definition, that implies Richmond West ranks as the #44 most expensive place in the Sunshine State.
For more reading on life in Richmond West, check out:
In Florida
In America
Richmond West Cost Of Living Vs. Florida
Six factors go into calculating the cost of living index in Richmond West. Here is how it fairs on each of the criteria:
The Services index in Richmond West is 105.
The Groceries index in Richmond West is 106.
The Health index in Richmond West is 96.
The Housing index in Richmond West is 193.
The Transportation index in Richmond West is 105.
The Utilities index in Richmond West is 102.
| Living Expense | Richmond West | Florida | National Average | |
|---|---|---|---|---|
| Overall | 132 | 97 | 100 | |
| Services | 105 | 96 | 100 | |
| Groceries | 106 | 99 | 100 | |
| Health | 96 | 98 | 100 | |
| Housing | 193 | 96 | 100 | |
| Transportation | 105 | 97 | 100 | |
| Utilities | 102 | 95 | 100 | |
Richmond West, FL Housing Cost Breakdown
Housing swings affordability the most between places in Florida, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Richmond West is $520,815.
The Median Rent in Richmond West is $2,374.
The Median Income in Richmond West is $96,282.
The Home Value To Income in Richmond West is 5.4x.
The Rent To Monthly Income in Richmond West is 0.3x.
| Statistic | Richmond West | Florida | United States |
|---|---|---|---|
| Median Home Value | $520,815 | $377,066 | $303,400 |
| Median Rent | $2,374 | $1,564 | $1,348 |
| Median Income | $96,282 | $71,711 | $78,538 |
| Home Value To Income | 5.4x | 5.3x | 3.9x |
| Rent To Monthly Income | 0.3x | 0.26x | 0.21x |
Median Home Value
Median Rent
Median Income
Richmond West, FL Costs By Category
Detailed Richmond West Services Costs Vs. Florida
| Item | Richmond West | Florida |
|---|---|---|
| Shampoo | $1.53 | $1.28 |
| Movie | $14.35 | $12.13 |
| Bowling | $23.67 | $18 |
| Haircut | $20.53 | $24.26 |
| Beauty Salon | $88.07 | $45.56 |
Detailed Richmond West Groceries Costs Vs. Florida
| Item | Richmond West | Florida |
|---|---|---|
| Ground Beef | $6.11 | $5.84 |
| Fried Chicken | $1.4 | $1.57 |
| Milk | $4.6 | $4.67 |
| Potatoes | $5.24 | $4.93 |
| Pizza | $14.13 | $12.09 |
| Beer | $11.44 | $10.41 |
| Toothpaste | $3.51 | $3.7 |
Detailed Richmond West Health Costs Vs. Florida
| Item | Richmond West | Florida |
|---|---|---|
| Optometrist | $98.49 | $125.68 |
| Doctor | $127.08 | $135.78 |
| Dentist | $107.83 | $113.29 |
Detailed Richmond West Transportation Costs Vs. Florida
| Item | Richmond West | Florida |
|---|---|---|
| Gasoline | $3.49 | $3.46 |
| Tire Balancing | $64.09 | $59.92 |
Detailed Richmond West Utilities Costs Vs. Florida
| Item | Richmond West | Florida |
|---|---|---|
| All Electricity | $200.94 | $193.99 |
| Phone | $194.37 | $192.25 |
Richmond West SnackAbility
/10
Cost Of Living In Cities Around Richmond West
The cost of living varies in the cities and towns around Richmond West. Here's a quick look at the cost of living in the most populous nearby places:
The Hammocks, FL has a cost of living index of 129, 1.0x Richmond West.
Kendale Lakes, FL has a cost of living index of 118, 0.9x Richmond West.
Tamiami, FL has a cost of living index of 124, 0.9x Richmond West.
| City | Population | Cost Of Living | Vs. Richmond West |
|---|---|---|---|
| The Hammocks, FL | 58,548 | 129 | 1.0x |
| Kendale Lakes, FL | 52,141 | 118 | 0.9x |
| Tamiami, FL | 51,201 | 124 | 0.9x |
| Coral Gables, FL | 49,243 | 188 | 1.4x |
| Princeton, FL | 41,476 | 117 | 0.9x |
| South Miami Heights, FL | 37,525 | 112 | 0.8x |
| Coral Terrace, FL | 24,051 | 128 | 1.0x |
| The Crossings, FL | 22,359 | 125 | 0.9x |
| Country Walk, FL | 18,693 | 133 | 1.0x |
| Palmetto Estates, FL | 16,587 | 120 | 0.9x |
