Salary? What is average in S.FL? (Weston, Sawgrass: short sales, foreclosures) - Fort Lauderdale area - Florida -Broward County - City-Data Forum

apesxux · 02-01-2010, 09:13 PM

Am considering a move an am currently weighing the options. I have what I consider to be a great job and expect to be able to transfer there. My wife and I love Ft Lauderdale area and vacation there often (4-6 times a year). We are familiar with all the vacation haunts and are gradually expanding. I expect to make about 130k-150k in annual salary. Is that a good comfortable amount for down there, relative to the cost of living? I am trying to gauge taxes, insurance an the like. Is there a state income tax? Oh so many questions. I plan to read many posts, but was initially curious about salary. Any input is greatly appreciated. I have seen the Weston area (near Sawgrass Mills) and like it. Any input on good neighborhoods? No kids for us, we are pushing 50. Walgreens seems to have a "corner" on the market down there too!!!

thanks...

jhlcomp · 02-01-2010, 09:30 PM

What is your line of work and do you have sufficient connections that would make that a "real" salary? There are few professions here that pay that with the rare exception of some tech positions, dean at a university, etc..

No state tax, but high homeowners insurance and personal property taxes. My husband and I are close to your age, no children and have lived in Weston many years and love it. Cost of living is high but it depends where you are coming from.

apesxux · 02-01-2010, 09:36 PM

I am a pharmacist and could transfer there. The first thing I did in this endeavor was to confrim my salary expectation. Those salary numbers are solid. I am trying to gauge what you mean by "high". I suppose some real numbers might help, but then again I am so very early in this exercise. I appreciate your prompt response.

tankev · 02-02-2010, 04:20 AM

We have a 2,400 sf home in Weston. We are paying about $2,300 in homeowners and about $480.00 for hurricane ins per year.
We were just reassessed this year (we moved in last year) and our property taxes are close to $8000.00 now.
Even though housing prices are falling our house assessed for more than what the previous owner purchased so taxes went up!

StilltheSame · 02-02-2010, 05:54 AM

OP - as a pharmacist your salary numbers are correct. You will live comfortably in most of the western suburbs like Weston. There is no state income tax, but property taxes and insurance can be high. SFL is very car dependent - so yes there is a Walgreens on every corner and a CVS on every opposite corner; and tons of hospitals (good news for you I suppose!)

rkumar3 · 02-02-2010, 08:24 AM

Your home owner insurance will vary a lot upon the year built, if you buy a relatively newer home (built after 1994), or one with a newer roof, it will go down much. Just to give you an idea, a decent home with 2500 sq ft built around 2000 should cost you about $3000 in hazard insurance and $300 - $500 in floor ins. Taxes will be about 2% - 2.5% of the assessed value.

With your salary you should be able to live a comfortable life down here.

Nolefan34 · 02-02-2010, 07:05 PM

I would imagine the average salary in S. FL. is close to the national average. The problem here is the cost-of-living is much higher than other areas with similar average salaries. For example, you could live in a central-FL suburb where housing costs are 30-40% less and car insurance is 1/2 of what it is here, yet still make the same salary.

This is the big downfall of South FL. Your salary does not get you very far. Now, if you are making 6 figures then you'll be fine. South FL was built for ppl with 6 figure incomes.

apesxux · 02-02-2010, 10:40 PM

Thank You all for your replies. It is really encouraging. I didn't realize when I started this endeavor that there was no state income tax there. This is HUGE!!! Basically the high property taxes are offset by the lack of state income tax almost evenly. The information search now moves to location. I pretty much threw a mental dart and hit on Weston. Are there other good places to choose? Any favorites? Can I really get a nice home for around 200-250K? I have seen some real dumps selling for that price in and around Ft Lauderdale city limits.

Thanks

MisterNY · 02-03-2010, 12:36 AM

Quote:

Originally Posted by apesxux

Thank You all for your replies. It is really encouraging. I didn't realize when I started this endeavor that there was no state income tax there. This is HUGE!!! Basically the high property taxes are offset by the lack of state income tax almost evenly. The information search now moves to location. I pretty much threw a mental dart and hit on Weston. Are there other good places to choose? Any favorites? Can I really get a nice home for around 200-250K? I have seen some real dumps selling for that price in and around Ft Lauderdale city limits.

Thanks

Depends on what you call nice. You can find some foreclosures and short sales, but they may not be in the best areas, or if they are, expect repairs or some downsides associated with these prices. With patience and flexibility, you may fare well. Rent first, then buy. Good Luck!

Nolefan34 · 02-03-2010, 09:36 PM

The "no state income-tax" is offset by the fact that wages are low relative to cost of living. In NYC for example, income taxes are high but so are wages. So it offsets.

Lets just say that the national average salary is $45,000 per year, and the average salary in FL is the same. Someone in South Carolina making $35,000 will fare far better than someone in South FL making $45,000 doing the same job. Like-wise, someone in in NYC making $70,000 doing the same job will fare better as well, even if he's paying 20% state income taxes. 20% of 70,000 is still way more money than $45,000.