Salary Translation (Orlando, Pine Hills, Altamonte Springs: middle-class, real estate, insurance)

[arizonatrader]

Hello Everyone - I have a question regarding how far money goes in Orlando. Briefly, I am in the finance industry and will be relocating from Boston to Orlando with my company in March. I know nothing about the area and wanted to get some feedback on affordability.

My situation is that I have a family of four and my salary range is in the $300K per year range. What can i expect to experience in terms of buying power for house, insurance, good and other services in Orlando?

Any input would be appreciated.

[kyle19125]

It's less expensive here but not greatly. The biggest difference will come via housing options. All in all according to this the cost of living calculator it's 25% less overall which is about right in my opinion.

PayScale - Orlando Relocation Cost

[Booya]

A 300k salary will go much farther in O'ville. Housing is cheap cheap cheap. You should have your pic of any neighborhood including Winter Park.
No state income tax and cheap real estate put you in a very good place.

[TedTLPN]

I suggest something in the Pine Hills area. $300k/ year will be plenty there.

[kyle19125]

Originally Posted by TedTLPN

I suggest something in the Pine Hills area. $300k/ year will be plenty there.

That's a joke, right?

[kyle19125]

Originally Posted by Booya

A 300k salary will go much farther in O'ville. Housing is cheap cheap cheap. You should have your pic of any neighborhood including Winter Park.
No state income tax and cheap real estate put you in a very good place.

Not necessarily. It depends upon where the OP currently lives. If they're in Beacon Hill or Back Bay for instance, the trade-off here is Old Winter Park or maybe a penthouse downtown. One can move from pretty much any city to another and downgrade into something less expensive, however most people compare current living conditions. Furthermore most individuals here making 300K aren't living in Conway, Altamonte Springs or Waterford Lakes.

[OrlFlaUsa]

Nice (for lack of a better word) to hear that someone in Orlando will be making more than $10 per hour lol. In all seriousness, you would be fine in any city at that payrate. How far that money will go in Orlando has more to do with personal lifestyle than COL as you could overextend yourself by buying a multi-million dollar estate in Isleworth, 5 nice cars, huge boat, court side seats at the AM for 13k per year, country club membership fees, send your kids to pricey private schools, pay ridiculous (golf) course fees, and eat 5 course meals at fine dining restaurants every night. Now to some people, blowing your money on all that is still considered making 300k go far in Orlando and I'm confident you could do just about everything I listed on this type of an income.

[Booya]

Originally Posted by kyle19125

Not necessarily. It depends upon where the OP currently lives. If they're in Beacon Hill or Back Bay for instance, the trade-off here is Old Winter Park or maybe a penthouse downtown. One can move from pretty much any city to another and downgrade into something less expensive, however most people compare current living conditions. Furthermore most individuals here making 300K aren't living in Conway, Altamonte Springs or Waterford Lakes.

Bottom line is 300k will afford a nice lifestyle in Orlando. Especially coming from Mass. Pretty much any neighborhood will be open to him with that salary range.

[Soup Not See]

Originally Posted by kyle19125

That's a joke, right?

That's just pure unadulterated jealousy ...

[d070033]

So let me start with the obvious, at $300K in Orlando, you will be off to a great start. Your question is legitimate considering that if this was LA or New York, the fact is that your salary would afford you a nice, middle-class living but in Orlando you will be able to spring for a few of the extra goodies. So my take is that auto insurance will be favorable as will housing (of course) and some services. Food won't budge and neither will gas prices but you can more than make up for that.

If it were me, I would focus on getting into a great neighborhood, pay extra to stay away from the crime and traffic then figure out schooling. The advantage for you (not knowing your other obligations) is that you can elect to go to private school which helps with housing flexibility.

LOL - be careful where you park that Benz or Porsche or BMW (or whatever your driving) because those types of cars are "eye openers" here and while your car may or may not get stolen, things aren't great down here financially and you could find your door getting keyed by jealous Orlando folks (like the guy who told you to go Pine Hills above). Good luck - enjoy in good health.