Cost of Living - Fox29 WFLX TV, West Palm Beach, FL-news & weather

Sunday, May 28, 2006

Cost of Living

The news is surprising for some couples but others say they already know the cost of living in this area is high and they need two incomes to survive.

Welcome to West Palm Beach. A recent study reported by CNN Money using census stats shows this city is one of the most expensive in which to live. The research looked at couples relocating from other places with middle management jobs and incomes, but no kids. According to the report they would need about $92,000 to live a fairly affluent lifestyle including homeownership in the West Palm Beach.

Louis Jimenez and Sonya Santiago are considering moving from Miami.

"I'm not surprised at all, I mean, South Florida - especially Palm Beach - is always known for higher standards and everything, therefore higher price. Basically you have to be doing very well to live in this area."

On the other hand, Tanya Kyryluk and Jorge Jimenez are surprised by the cost of living.

"I am surprised because it is like in Miami--pretty soon you have know where to live, it's really high. It's difficult for two people trying to make it and get a nice place and a reasonably nice area, it's very hard."

And Roger Royal and Tawana Huely say they are doing alright, but a lot of their friends have left because of the higher costs.

"I've had friends that have moved away. I work with people that have moved away--moving to the northeast, North Carolina is popular, Memphis is popular, Tennessee cost of living is cheaper land is cheaper."

Experts say taxes are different in many cities. In New York you have to pay $20,000 more in federal taxes than in West Palm Beach for comparable lifestyle. Would you rather live in New York or West Palm Beach?

"West Palm Beach."

Now at the other end of spectrum, no Florida cities made the 50 least expensive places to live.
Fort Lauderdale is the most expensive city to live in in Florida. Miami's not too far behind. As for the top 5 most costly cities to live in, they are New York, San Francisco, San Jose, Honolulu and Los Angeles. McAlester, Oklahoma is considered the least costly.

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