Cost of living in Clearwater, FL

Clearwater Cost of Living | 💰 [2022] Is Clearwater Expensive, Affordable & More!

Clearwater is one of the most affordable cities in Florida and is a highly sought-after city that is perfect for every stage of life. The average home value is $361,000, and the median rent ranges from $1,010 to $2,190+. Whether you’re looking for a new adventure or to settle down with your family, Clearwater is the ideal choice.

Clearwater Cost of Living

Many factors can affect the cost of living in a city. These could include but are not limited to household size, the state, neighborhoods, and even your lifestyle. The cost of living index offers an opportunity to see if you can afford to live in Clearwater and how it compares to your current city.

Cost of Living Index

The Cost of Living Index (COLI) gets based on the cost of living and how it compares to the national average, which is always set at 100 by comparison. For the Tampa-St. Petersburg-Clearwater, FL, metro area, the COLI is 94.6, which means it’s 5.4% less expensive in Clearwater than the rest of the country.

Plus, the Clearwater cost of living is 8.2% less expensive when compared to the rest of the state of Florida.

It is essential to note that even though Clearwater is more affordable overall, groceries are more expensive, so make sure to budget accordingly.

Clearwater Consumer Price Index


Over the last two months, the Consumer Price Index for the Tampa-St. Petersburg-Clearwater area has seen an increase of 2.1%, and when you look at the year-over-year, the increase was 11.3%.

The CPI for energy over the past 12 months has increased by 38.4%. Then for food, there has been a 6.6% increase over this past year.

BLS Consumer Expenditure Survey in Clearwater

The Consumer Expenditure Survey allows you to see data based on income, expenses, and characteristics of the consumers.

In the Tampa-St. Petersburg-Clearwater, FL, area, the average household ended up spending $60,720 per year based on analytics from 2019-2020. Here’s the breakdown to show what percentage the average household spends of their income on each category:

  • Housing: 34%
  • Transportation: 18.4%
  • Food: 14.1%
  • Personal insurance and pensions: 10.5%
  • Healthcare: 8.7%
  • Entertainment: 4.2%
  • Cash contributions: 2.3%
  • Apparel and services: 2.0%

While the overall expenses are higher compared to other southern states, Florida doesn’t have an income tax, so it balances out.

Family Budget Calculator For Clearwater, FL – Is Clearwater Affordable?

To help you understand the cost of living in Clearwater, according to the Economic Policy Institute, the average family of four would need to make $83,296 per year to live comfortably in the Clearwater FL area.

Based on the estimate of having two kids and two adults in the house, you will spend around this each month:

  • Housing: $1,271
  • Food: $854
  • Child Care: $1,073
  • Transportation: $1,144
  • Health Care: $1,237
  • Other Necessities: $770
  • Taxes: $593

Cost of Household Items, Food, Gas & Groceries in Clearwater

To help prepare you before making the move, we wanted to show some specific examples of median prices you can expect to pay for popular household items and expenses.

Clearwater Average Grocery Costs

Groceries are a necessity for everyone. Numbeo gives you a closer look at the average cost of food in Clearwater, FL.

  • Beef Round (1 lb): $6.20
  • Chicken Fillets (1 lb): $5.22
  • 1 Gallon of Milk: $3.91
  • 12 Eggs: $2.85
  • Potatoes (1 lb): $1.29
  • Apples (1 lb): $2.34
  • Oranges (1 lb): $2.19
  • Loaf of Bread: $2.45
  • Bottle of Wine (Mid-Range): $12.50

Everyone has different diets, preferences, and health needs, so make sure to take these into account when making your budget.

Average Cost of Monthly Bills in Clearwater

According to Doxo, here is the rundown of what you can expect on average to spend for monthly bills.

  • Mortgage: $1,287
  • Auto Loan: $282
  • Auto Insurance: $288
  • Average Clearwater Utilities: $229
  • Health Insurance: $125
  • Cable & Satellite: $76
  • Phone: $138

While there isn’t a monthly pass for the bus through the Pinellas Suncoast Transit Authority, you can expect to pay $2.25 for a “regular cash fare.” If you drive a car, then the average price of gasoline is $4.85 per gallon, according to the US Energy Information Administration.

It’s essential to note that while some categories like your auto insurance and cell phone could cost you more than the national average for your monthly bills, the price in the rest of the sections is lower than in other areas in the United States.

Clearwater Real Estate Market

From the Census Reporter, 82% of the residents in Clearwater, Florida, own their homes. According to Redfin, real estate is still hot, with homes selling in 8 days once released to the market. If you’re interested in purchasing a home, the median property price in Clearwater is $361,000.

A single-family house will cost a median price of $401,900.

For a townhouse, you can expect an average cost of $373,625.

Depending on your budget and if you need to save money or don’t need a lot of room, a condo could be a good alternative because the median sale price is $249,000.

If you can’t decide if renting or buying is a good option for you, let’s figure out the Price-to-Rent ratio.

Let’s say you are considering buying a house for $405,000. If the median annual rent costs you $20,988, you will take the $405,000 divided by $20,988, giving you a 1:19 ratio.

A ratio between 1 to 15 means it will be more beneficial to buy than rent, 16 to 20 means you are usually better off renting than buying a place, and anything over 21, you need to be renting. In the scenario above, the ratio is 1:19 so you should rent, but buying can be beneficial in some circumstances.

Clearwater has some of the best and most affordable neighborhoods in Florida. A few top-rated areas include: Clearwater Beach, Northwood Estates, Seville, Old Clearwater Bay, and Coachman Ridge.

With the beautiful crystal clear water, the sunny warm weather, and the family-friendly community, Clearwater is one of the best places to settle down. It is also known as a very popular place to retire.

Clearwater Rental Market- Average Rent in Clearwater

The average rent in Clearwater, Florida, is $1,749 for a 926-square-foot apartment. While this price is higher than the national average by $121 per month, it’s still affordable and fits most budgets.

An example of one of the most popular apartment complexes is The Sands at Clearwater. It is a luxury yet affordable apartment complex with everything you could ever need. They have detached garages, an outdoor grilling area, a 24-hour gym, a beautiful lake and hiking trails, a clubhouse, a saltwater pool, and so much more!


Now, if you’re curious about the price compared to the next largest city, Tampa, Clearwater is cheaper by $85 per month.

If you aren’t sure whether to rent or buy during this current time, ATTOM has created a Rental Affordability Report that allows you to hover over the area you’re interested in investing in and find out more about the current real estate market in that particular area.

Now, when it comes to how much you need to earn to afford rent, here is a breakdown of what you’ll need to make based on the zip code 33759 without exceeding 30% of your income on housing:

  • Hourly Wage For A Two-Bedroom: $26.35
  • Hourly Wage For A One-Bedroom: $21.54
  • Median Household Income: $52,344

It’s essential to try and keep your rent at no more than 30% of your take-home pay per month because it allows you the flexibility to afford unexpected emergencies and other expenses.

Average Salary & Household Income in Clearwater

The average salary in Clearwater, Florida, is $62,000 per year, or $17.12 per hour. Some of the jobs in Clearwater and their median hourly rate include:

  • Registered Nurse: $30
  • Certified Nurse Assistant: $14
  • Licensed Practical Nurse: $22
  • Medical Assistant: $16

According to the U.S. Bureau of Labor Statistics, some of the most popular occupations are in industries like:

  • Management: average hourly wage $47.48
  • Business and Financial: average hourly wage $29.97
  • Computer and Mathematics: average hourly wage $38.03
  • Architecture and Engineering: average hourly wage $37.11

These wages are well above the state of Florida’s hourly wage of $10.00.

Income, Sales & Property Taxes in Clearwater

Besides the beaches and breathtaking scenery, one of the best things that Florida provides is that there is no income tax! There is a total sales tax rate of 7%, but that covers everything: state, county, and city rates.

  • Sales Tax For Florida State: 6%
  • Sales Tax For Pinellas County: 1%
  • Sales Tax For Clearwater: 0%

Florida is #22 out of 50 compared to the rest of the United States, where it ranks based on the sales tax rate.

When it comes to the property taxes in Clearwater, it’s a part of Pinellas County, and the property tax rate is determined based on One mill– meaning that for every One mill, that equals $1 for each $1,000 of the assessed value. The millage rate gets voted on by the proper authorities, and then from there, the residents are notified.

Clearwater vs Tampa Cost of Living

Are you trying to decide between moving to and living in Clearwater or Tampa? Here is a Clearwater cost of living vs. Tampa, FL.

While the average annual salary is less in Clearwater, the overall cost of living is cheaper than in Tampa, FL, so it balances out.

Are you thinking about living in Clearwater, Florida? It’s one of the best places for everyone, whether single, married with kids, or retired. With the breathtaking views, one-of-a-kind beaches, and family-friendly communities, Clearwater is the place for you! 2 College Brothers is a professional and top-rated team of movers here to help make your relocation seamless. Call us today at (813) 922-1528 or fill out our online form for a free estimate!

REQUEST A QUOTE

All Fields Are Required

MM slash DD slash YYYY

Search by Category

Search For more helpful Resources

Check Out Our Related posts

Connect With A local real estate expert

Name*

By proceeding, you consent to receive calls, texts, and voicemails at the number you provided (may be recorded and may be autodialed and use prerecorded and artificial voices), and email, from 2collegebrothers.com, Opcity, realtor.com and their network of service providers about your inquiry and other home-related matters. Msg/data rates may apply. This consent applies even if you are on a do not call list and is not a condition of any purchase.

This field is for validation purposes and should be left unchanged.

Free!

Ultimate Moving Checklist

Connect With A local real estate expert

Complete The Form Below To Send Your Information To A Local Real Estate Professional

Name*

By proceeding, you consent to receive calls, texts, and voicemails at the number you provided (may be recorded and may be autodialed and use prerecorded and artificial voices), and email, from 2collegebrothers.com, Opcity, realtor.com and their network of service providers about your inquiry and other home-related matters. Msg/data rates may apply. This consent applies even if you are on a do not call list and is not a condition of any purchase.

This field is for validation purposes and should be left unchanged.