TAMPA, Fla. — Editor's note: This story was originally written in August 2021.
According to a recent study, Florida was the No. 1 state people moved to in both 2020 and 2021.
But with the rising cost of living across the country, including in the Sunshine State, it can be hard to know just how much money you need to earn in order to get by.
MIT's Living Wage Calculator provides an estimate of what people in Florida need to make in order to cover living expenses such as housing, food, insurance and other essentials. MIT says the data is updated annually during the first quarter of the new year.
According to CNBC, the calculator went through a recent update that changed up its methodology somewhat. It now includes cell phone and Wi-Fi expenses, as well as the cost of pets and entertainment costs, such as going to the movies or a museum.
In Florida, MIT says on average a single person needs to make a minimum of $30,825 a year before taxes in order to make a livable wage.
Here's how the state average breaks down, according to the calculator:
- Single person: $30,825
- Single adult, 1 child: $64,317
- Single adult, 2 children: $79,126
- Single adult, 3 children: $102,095
- Two adults (single-income): $49,864
- Two adults, 1 child (single-income): $60,079
- Two adults, 2 children (single-income): $67,140
- Two adults, 3 children (single-income): $73,432
- Two adults (both working): $49,864
- Two adults, 1 child (double-income): $69,747
- Two adults, 2 children (double-income): $86,475
- Two adults, 3 children (double-income): $102,435
But those are just the state averages. Here in the Tampa Bay area, those numbers vary. For example, if you're single and you live in Citrus County, the calculator says you need at least $27,306 per year. Whereas, in Pinellas County, a single person needs to make a minimum of $31,364 yearly.
Find the full breakdown of each Tampa Bay county, including average typical expenses here: