Corrine Place in Key Largo

Residents of Monroe County - The Keys - need to make $4,000 every month to maintain a modest standard of living, making it the most expensive place in Florida to live, according to an analysis from 24/7 Wall St.

The Economic Policy Institute’s Family Budget Calculator was used to determine the local cost of living, which includes housing, food, health care, transportation and other necessities. In many of the locations identified, housing costs can account for more than 30 percent of these expenses.

The monthly housing cost in Monroe County was $1,001.

Though, SDNL can report that $1000 is at the very low end of the spectrum for rental housing costs in the Keys.

And the median household income in the region stood at $67,023.

The May 2020 jobless rate there was 17.7 percent. Unemployment rates in these counties tended to be below the 13 percent national average during the coronavirus pandemic, the website reported, while local population growth in recent years was above the U.S. average. The analysis ranked counties by estimating the cost of living for a single adult resident to have a modest quality of life.

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