Are you thinking about living in Port Charlotte and are curious about what it costs? In this episode of Hearty Home, I’m going to break down the cost of living in Port Charlotte, Florida. We’ll look at everything from the cost of housing to the cost of gas right here in Port Charlotte so you know exactly what to expect.
We work with many people who move here to Port Charlotte, and the cost of living is always one of the top questions. Let’s look at some bottom-line numbers so you can learn a few things about our local costs. If you're not familiar with the area, you'll appreciate this.
The Cost Of Housing
First, let's talk about the obvious: the cost of housing. One of the first things you'll need to decide is if it’s better to buy or rent. Next, what kind of housing do you need? Are you single or do you have a family? The price of housing varies, so if you have any additional questions, I can send you more detailed information. However, here are some general pointers.
The average three-bedroom, single-family home in Port Charlotte is about $350,000. Also, remember that you can also get a three-bedroom anywhere from $180,000 to $1.2 million. It all depends on location, improvements, and if it's waterfront. Waterfront homes will be considerably more.
A four-bedroom in the same area would run roughly $400,000 depending on the location and improvements done to the property.
Rental Prices
If you're looking into renting in the area, you can plan on spending anywhere between $1400 on the low end to $4,800 on the higher end for a three-bedroom single-family home. The average four-bedroom single-family home for rent in Port Charlotte costs $2,400.
If you want a water view, you're looking at a minimum of $5,000 a month. A three bedroom in the same area would run you roughly $2,100. If you're looking for an annual rental on the water, you could be looking at anywhere from $3,000 to $4,500.
A good rule of thumb when we're talking about pricing is that it gets more expensive if you are living closer to the bay or waterfront versus living inland. The average property owner in Charlotte County pays about 1% of the home's assessed value. You can always find that information on the Charlotte County website for property appraisers.
Taxes And Transportation
Now that you know about the cost of housing, let's go over some other costs of living right here in Port Charlotte. First, the annual state income tax here is 0%. That's right: the state of Florida does not pay income taxes, only state taxes.
Gas here averages around $3.84 and yes, you will need a car. We do have some local costs most people aren't aware of, such as our annual car sticker cost—which is also your annual registration. Additionally, sales tax is 7%. For those of you who are looking to purchase investment properties for short-term rentals, we also have a 12% short-term rental tax.
Make Port Charlotte Your Home
I hope this video gave you some insight into the cost of living in Port Charlotte. If you have any additional questions about living in Port Charlotte, please don't hesitate to reach out and ask. We help people all the time with moving around or relocating here, and we’d be happy to help you, too.
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