The cost of living in Florida is rising at a pace few residents have seen before, driven largely by surging housing, insurance and rent costs that are outpacing wages and pushing some to consider leaving the state.
A new report from Florida TaxWatch shows price growth has accelerated sharply in the 2020s after a relatively stable decade. Costs rose about 1.3% annually in the 2010s but have jumped to roughly 5.8% per year in recent years — nearly five times faster.
That spike is hitting nearly every household expense, from groceries and utilities to child care. In a 2025 survey, nearly 90% of Floridians said they were concerned about inflation, and about half said they had considered moving out of the state.
Housing remains the biggest driver of the affordability crisis.
Homeowners face some of the highest insurance premiums in the nation, averaging $2,794 annually through 2025 — a 63% increase since 2020. When combined with rising property taxes, housing-related costs can exceed $10,000 a year for many.
Renters are also feeling the strain. Average rent climbed from $1,194 in 2015 to $2,208 in 2025 — an 85% increase — pushing Florida from the 14th most expensive rental market to the sixth.
Beyond housing, everyday essentials are also rising. Egg prices have surged 135% over the past decade, while rice is up 46% and bread 30%. Child care costs have climbed steadily, topping $42 per hour in 2025, and utility bills continue to trend upward.
The report ranks Florida as the 18th most expensive state overall and the fourth most expensive in the South, with price growth in areas like Palm Beach, Miami and Tampa outpacing the broader region.
While inflation appears to have peaked around 2022 and is beginning to slow, costs remain well above pre-pandemic levels — leaving many households still feeling the squeeze.
