Is $70,000 a Good Salary in Florida?

A $70,000 salary in Florida presents a multifaceted financial picture, influenced by cost of living, tax structure, and individual circumstances. Determining if this income is “good” depends on personal financial goals, lifestyle, and specific geographic location. What is comfortable for one person may be a struggle for another, highlighting the need for a detailed financial assessment. This overview provides insight into factors shaping the purchasing power of a $70,000 salary in Florida.

Florida’s Cost of Living Breakdown

Housing costs are a substantial portion of expenses in Florida, with significant regional variations. As of August 2025, average rent for a one-bedroom apartment statewide is approximately $1,692 per month, while a three-bedroom rental averages around $2,460 or more. For those looking to own, the average monthly mortgage payment in Florida is about $2,312.72. These figures are averages, meaning metropolitan areas typically experience higher costs compared to smaller towns and rural areas.

Average monthly utility costs, encompassing electricity, heating, water, and garbage, are around $164.23. Transportation costs also factor into the budget, with annual expenses ranging from $5,477 to $15,530. This wide range reflects differences in car ownership, fuel prices, insurance premiums, and the availability of public transportation options.

Grocery expenses for one person are estimated at around $352.17 per month. This figure can fluctuate based on dietary habits, dining out frequency, and location within the state, with larger cities generally having higher food prices. Healthcare costs are another consideration, with the average annual per capita cost in Florida reported as $7,676. Individual health insurance premiums vary, with an average monthly premium for a 40-year-old on an Affordable Care Act (ACA) marketplace Silver plan around $450, depending on age, income, and county.

Understanding the Tax Environment

Florida offers a distinct tax advantage compared to many other states, as it does not impose a state income tax. This absence of a state income tax directly increases take-home pay, allowing for more disposable income or greater savings potential. This can be a significant benefit for residents.

While there is no state income tax, Florida levies a general state sales tax of 6%. This tax applies to most goods and services purchased. Many counties also impose a discretionary sales surtax, or county tax, which can add an additional 0.5% to 1.5%, potentially bringing the total sales tax rate up to 7.5% in some areas.

Property taxes in Florida, known as ad valorem taxes, are based on real estate’s assessed value. These taxes fund local services, including schools and fire departments. The tax amount is calculated by multiplying the property’s taxable value by a millage rate, set by local government entities and varying by area. In addition to ad valorem taxes, property owners may face non-ad valorem assessments for specific services like waste disposal or street lighting, which are not based on property value but are included on the tax bill.

How $70,000 Compares to Typical Incomes

A $70,000 salary in Florida stands favorably compared to typical income benchmarks. The median household income in Florida is $71,711 annually (2023 data). This indicates a $70,000 salary is very close to the midpoint for household earnings.

The average income per person in Florida, or per capita income, is $41,055. This figure is generally lower than median household income because it includes all individuals, regardless of employment. The average annual salary in Florida (June 2025) is approximately $49,261. Another source indicates an average annual salary of $56,063 (July 2025). A $70,000 salary is notably higher than these average wage figures, suggesting greater earning capacity.

Personal Factors and Geographic Variations

The suitability of a $70,000 salary in Florida depends on personal financial situations and lifestyle choices. Household composition significantly impacts expenses; a single person has different financial needs than someone supporting a family. Existing debt obligations, such as student loans or credit card balances, reduce disposable income, affecting how far a salary stretches. Financial goals, including saving for retirement, making down payments, or investing, also play a role in assessing income adequacy. Discretionary spending on entertainment, dining out, and travel further influences the salary’s perceived value.

Geographic location introduces substantial variations in the cost of living. Urban centers and popular coastal areas often have significantly higher expenses than rural regions. For instance, cities like Miami, Naples, and parts of Orlando are known for elevated costs, particularly in housing. In these high-cost areas, a $70,000 salary might present financial constraints.

Conversely, more affordable areas like Jacksonville, Tampa, Pensacola, Ocala, or Tallahassee offer a lower cost of living. In these cities, a $70,000 salary could provide a more comfortable lifestyle with greater purchasing power for housing and necessities. For example, average rent for a one-bedroom apartment in Jacksonville is significantly lower than the state average, making it a more budget-friendly option. The difference in living expenses across Florida’s diverse regions means the same salary can lead to vastly different financial realities.