Living in Florida has gotten a lot more expensive, and the pace of rising costs is leaving many residents struggling to keep up.
Over the last decade, the cost of living in The Sunshine State has jumped nearly five times faster than it did in the 2010s. A cause is soaring expenses for housing, insurance, and rent. Wages simply aren’t keeping up, and some Floridians are now thinking about packing up and moving elsewhere.
Florida TaxWatch’s latest report lays it all out. During the 2010s, prices in the state grew at a pretty modest 1.3% a year. But in the 2020s, that average exploded to around 5.8% annually. This difference shows up almost everywhere you look: rising rents, pricier groceries, higher child care bills, bigger utility payments. Still, housing stands out as the single biggest concern.
Look at insurance. Florida homeowners now pay some of the highest rates in the country: by 2025, average annual property insurance will hit $2,794, a 63% jump since 2020. Add rising property taxes, and many homeowners now spend more than $10,000 a year just to keep a roof over their heads.
Renters have also faced difficulties. In 2015, the average rent was $1,194. By 2025, it shot up to $2,208, an 85% increase. That leap bumped Florida from the 14th to the sixth most expensive rental market nationwide. Rent spiked fastest after 2020, tracking broader inflation but outpacing neighboring states.
It’s not just housing, either. Basic goods and services have gotten pricier:
Eggs are up an astonishing 135% over the last ten years.
Rice? Up 46%.
Bread has climbed 30%.
Child care now tops $42 an hour in 2025.
Even electricity and gas keep creeping higher.
Prices like these mirror national inflation, but in Florida, wages lag. That gap leaves people squeezed month after month.
The good news is Florida has experienced impressive growth and now ranks fourth in the U.S. GDP and third in population. The bad news is that many Floridians aren’t feeling the benefits. New residents keep pouring in, pushing up demand and prices, while longtime locals get edged out. Even though inflation cooled a bit after its 2022 peak, prices are still much higher than before the pandemic.
Florida TaxWatch isn’t optimistic about affordability without real policy action. The report points to both federal money policy and state-level changes in housing, insurance, and taxes as crucial. Without intervention, the gulf between what people earn and what it costs to live here just widens, changing who gets to call Florida home.
Looking toward early 2026, Southwest Florida shows a cautious recovery.
The region benefits from strong job growth but still faces high inflation and sky-high insurance. Homeowners struggle with some of the priciest property insurance rates in the nation, and that pushes many to consider moving inland. The real estate market is settling into a new normal. We see more activity these days, though the wild days of the pandemic are over.
Tourism remains a major engine, but travelers are watching their spending, especially with dining and entertainment. That caution ripples through local businesses. Florida’s broader economic growth should hit about 2.3% in 2026, with a sturdy labor market supporting the region. While growth is slower than the big post-pandemic boom, no one expects a recession, just a more moderate, healthy pace.
Challenges remain. Recent storms still cast a shadow, affecting businesses and changing travel habits. Persistent high inflation and insurance costs put pressure on families and companies alike. For many, the dream of Florida sunshine now comes with a much higher price tag.
