What can you expect for Sarasota’s cost of living moving into 2022?
While Sarasota is still more affordable than the national average, it is not an inexpensive place to live for a metro area of its size. In fact, average rental prices for an apartment are even slightly higher in Sarasota than in nearby metropolitan areas like Tampa and St. Petersburg. In addition, Sarasota’s is desirable for both those under-65 as well as those over-65. This has caused low inventory, rising home prices, and many people who want to live here are unfortunately priced out.
However, Florida still has a silver lining! It is one of a few states that do not have a state income tax. And the state’s homestead exemption is another perk. A property owners’ assessed value of their home can only go up by a maximum of 3% each year once that they prove that their Florida home is their primary residence.
But what about the other day-to-day costs of living in Sarasota? In the past year, we have ALL seen the cost of living increase. From gas prices, insurance, rent, food, you name it – prices are going up. In this video, I lay out the cost of living in Sarasota for 2022. For those thinking about relocating to Florida, this could be a determining factor and I hope it is helpful.
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