728x90 AdSpace

Latest News
October 25, 2016

Cost of Living in Orlando, The City Beautiful

The Greater Orlando metropolitan area is part of the Central Florida economic region, one of the most prosperous in the Sunshine State. This economic region includes Orlando and all its famous resorts such as Disney World and Universal Studios, and it extends all the way west to the Tampa Bay area. Tourism is one of the most profitable and active industries, but the region also thrives in terms of agriculture, research and education.
The cost of living in Orlando is generally lower than in South Florida and only slightly higher than other economic regions such as Jacksonville and the Florida Panhandle. Compared to the overall cost of living in the United States, Orlando is more affordable, but there is a disparity in wages and purchasing power. Income inequality is an unfortunate reality of life in this city, and thus the title loans Orlando industry helps many people get by each month.

Orlando Housing

In terms of housing, Orlando is less expensive than Miami but more expensive than other cities in Florida. Renting a one-bedroom apartment in the heart of the city, close to the amusement parks, can easily cost more than $1,100 per month. For this reason, many residents choose to live in Kissimmee and other neighboring communities that are still part of the Orlando metropolitan area. 
For families who qualify for a conventional mortgage, housing in Orlando can be cheaper. The median home value in this part of Florida is $157,000. This is a highly desirable area of the country to live in, and thus its real estate reflects the result of demand with regard to median home prices, which are nearly $235,000 for a three-bedroom suburban property.

Groceries in Orlando

After rent, the combined cost of groceries and household items is the highest for Orlando residents. Since this is a city that attracts hundreds of thousands of tourists from around the world each year; perhaps this is a reason why groceries tend to be very expensive in the large part of town comprised of amusement parks and luxury resorts.
One kilogram of rice in a supermarket located in the heart of the city can cost upwards of $6, thus making Orlando one of the most expensive places for rice in the entire world. Pricing disparity is considerable; apples shipped from orchards in the American Northwest cost $6 per kilogram while bananas imported from Costa Rica cost just $1.58 per kilogram.
Similar to housing, residents can find more affordable groceries away from the city center and in the surrounding communities.
Restaurants in Orlando
Luxury eateries and diners that cater to tourists can be very expensive in Orlando. A meal for two people can easily cost more than $60. The price of domestic beer can range between $3.50 and $5.00 when served on tap; a bottle typically costs $5.00 and imports cost $7.00. Meals at national fast-food chains such as McDonald's and Burger King are priced slightly higher than in Orlando in comparison to other American metropolitan areas. Restaurants in contiguous cities such as Kissimmee are far more affordable.
Wages and Income in Orlando
The amusement park and hospitality industries of Orlando offer the most jobs, but the wages they offer are not necessarily competitive. Workers in skilled occupations, however, earn considerably more. A salaried college-educated tech worker in Orlando can earn a net $2,790 per month, thus ending up with disposable income.
The views and opinions expressed herein are the author's own, and do not necessarily reflect those of EconMatters.

© EconMatters All Rights Reserved | Facebook | Twitter | YouTube | Email Digest | Kindle

  • Blogger Comments
  • Facebook Comments
Item Reviewed: Cost of Living in Orlando, The City Beautiful Rating: 5 Reviewed By: EconMatters