Is the Cost of Living in Orlando Too High in 2024?

Orlando is known for theme parks, a warm climate, and a booming economy. Major employers such as Walt Disney World Resort, the University of Central Florida, and AdventHealth ensure a robust job market. But if you’re considering moving to this city, you should also consider the living expenses.

The cost of living in Orlando is 5% higher than the state average. Housing costs are 11% higher, but utilities are 7% lower. While rent or mortgage payments may stretch your budget, you could save on your monthly electricity and water bills.

Let’s look at the living costs in Orlando, Florida, for 2024.

What Is the Cost of Living Index?

A cost of living index compares the prices of essential goods and services across different locations. It considers housing, food, utilities, transportation, and healthcare expenses. A higher index indicates that a city is more expensive, so you need a higher income to maintain a comfortable standard of living.

The cost of living in Orlando, FL, is 5% higher than the national average. This implies that you should budget more for groceries, utilities, entertainment, and rent.

5 Major Living Expenses in Orlando, FL

Let’s break down some major costs you may face as an Orlando resident:

• Housing

Orlando’s housing prices average around $388,798, which is 11% lower than the national average. The average rent in Orlando, FL, is $1,902 per month, which is relatively affordable compared to other major cities in Florida. 

However, if you are on a budget, you can find homes for sale in Orlando under 200k on websites like Houzeo, Redfin, Zillow, etc.

• Utilities

Utility costs in Orlando are 7% lower than the national average. Essential utilities, such as heating, water, and electricity, can run up to $150 for an individual and $277 for a family in Orlando.

• Transportation

Transportation expenses in Orlando are 1% higher than the national average. Here’s a breakdown of costs:

• Local transport ticket: $2.50
• Monthly ticket for local transport: $50
• Taxi ride (8 km or 5 miles): $20
• Gas: As of July 2024, it’s $3.49 a gallon

• Food and Groceries

The cost of groceries in Orlando is about 3% higher than the national average. Here are some prices:

For Groceries:

• Milk: $1.19 per gallon
• Bread: $2.50 for 0.5 kg (about 1.1 lb)
• Rice: $2.00 for 1 kg (about 2.2 lb)
• Boneless Chicken: $6 (about 1lb)

For Dining Out:

• A lunch menu will cost you around $23.
• A dinner for two in a restaurant is approximately $63.
• A fast meal (equivalent to McDonald’s) costs about $11.

• Other Expenses

Healthcare in Orlando is 8% lower than the national average. A routine doctor’s visit can cost up to $114.54. For entertainment, a cinema ticket for two people costs around $30.

4 Tips to Save Money on Living Expenses in Orlando

Living in Orlando can be expensive, but there are ways to manage your costs effectively:

• Utilize Public Transportation

Orlando has a public bus system, LYNX, to help reduce transportation costs. LYNX offers affordable commuter services to cities near Orlando, FL, including Kissimmee and Sanford.

• Consider Affordable Housing Options

If you’re looking for cheap housing in Orlando, Florida, consider budget-friendly neighborhoods like Pine Hills or Azalea Park. Compared to central Orlando, these neighborhoods’ median home prices can be up to 15% less expensive.

• Shop Smart for Groceries

You can reduce your food expenses by shopping at discount grocery stores like Aldi or Walmart. These stores often offer prices up to 10% lower than traditional supermarkets. You can also buy in bulk and shop for groceries during sales to maximize savings.

• Enjoy Free Local Activities

Orlando offers many free activities. You can visit Lake Eola Park for its beautiful scenery and swan boats or explore the natural beauty of Harry P. Leu Gardens. You can also attend community events at the Dr. Phillips Center for the Performing Arts, many of which are accessible to the public.

Bottom Line

Orlando’s cost of living is 5% higher than the national average, with housing, utilities, and transportation being the major expenses. The median home price is $399K, and the average rent is $1,900. However, certain neighborhoods have more affordable options.

Despite the higher cost of living, there are ways to manage expenses. Use public transportation, shop smart for groceries, and enjoy free local activities. With careful planning and budgeting, you can live comfortably in Orlando.

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