By Deborah Nelson
How much does it cost to live in the Pensacola area?
About $6,000 per month for a two-parent, two-child rental household, according to a new calculus by Economic Policy Institute.
EPI’s final tab incorporates housing, food, child care, transportation, health care, other necessities and taxes.
The housing component is based on monthly rental rates. The tax component thus includes Federal, State and payroll taxes, but not property tax estimates.
Area rental rates average $846 in the Pensacola/Ferry Pass/Brent metro area; $809 in Escambia County and $935 in Santa Rosa, per EPI.
Overall, Escambia is slightly less expensive than Santa Rosa.
In both counties, transportation is more expensive than housing. Estimated transportation costs are averaged from area vehicle ownership, vehicle use, and transit use costs.
Removing children from the equation drastically reduces costs, to about $4,000. EPI’s calculus doesn’t include infant care, which would likely push cost of living numbers higher.
The numbers are based on 2017 dollars or earlier costs adjusted to 2017 inflation levels.
“Compared with the federal poverty line and the Supplemental Poverty Measure, EPI’s family budgets provide a more accurate and complete measure of economic security in America,” the organization said.
EPI’s cost of living calculator includes data for all 3,142 U.S. counties and county equivalents and for all 611 metropolitan areas.