In Florida, the median price for a home is nearly $300,000, according to real-estate website Zillow, and the median rent is $1,800. That's compared to the national median of $278,000 and $1,695, respectively. And in the expensive ZIP code of Boca Grande, housing prices go dramatically higher: It can cost more than $1.6 million to buy the typical home.
Still, while residents must contend with some of the most expensive real-estate prices in the country, residents of the Sunshine State say their top source of financial stress isn't housing. It's the cost of living overall.
That's according to financial site GOBankingRates, which conducted a survey of more than 2,000 people from every state and Washington, D.C., "to pinpoint what's causing the worst financial fears and stress among Americans."
Respondents could choose: "debt," "education," including things like college expenses, "everyday costs," including groceries and utilities, "family," including child care and divorce, "health care," "housing," or "taxes."
Floridians chose everyday costs.
Almost a third of residents "are stressed about paying for everyday living costs," says GOBankingRates. "The median household income in the state is $50,860, which is about $7,000 below the national average."
But Floridians aren't alone in wrestling with everyday expenses. The No. 1 cause of financial stress in the country overall is also everyday living costs, according to the survey. About 32 percent of all respondents chose everyday costs as their top financial stressor, including those in notoriously pricey states like New York and California.
Nearly 30 percent chose debt, followed by 13 percent who chose housing, 9 percent who chose health care, 7 percent who chose education, 6 percent who chose family and only 4 percent who chose taxes.
Of course, housing prices and the cost of living can vary widely based on where you live. But no matter where you fall on the map, living within your means and employing common-sense budgeting tactics can help you save in the long run. Here are some tips to help you get started.
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