How much money do you need to maintain a similar lifestyle in a different city?
If you're making
$30,000 in Key West, Florida,
You would need to make
$14,114 in Boone, North Carolina
to maintain the same standard of living.
Boone, North Carolina is 53%
less expensive than Key West, Florida.
Cost of Living Information
Key West vs. Boone Affordability Breakdown
The cost of living index is calculated based on accumulating the cost of food, transportation, health services, rent, utilities, taxes, and miscellaneous expenses.
Key West, Florida is ranked
58/5,673 cities in United States
Boone, North Carolina is ranked
2,403/5,673 cities in United States
Compared to National Average
Key West, Florida
Boone, North Carolina
Below Average
Average
Above Average
0
2/250 cities in Florida
Compared to State Average
Below Average
Average
Above Average
0
11/127 cities in North Carolina
Compared to State Average
Below Average
Average
Above Average
0
Assumptions Used to Calculate the Cost of Living Index:
Need more details? Upgrade to ERI's Assessor Platform for more comprehensive information.
Research cost of living data for a single location
Affordability Breakdown
Key West, Florida
Boone, North Carolina
Below Average
Average
Above Average
0
Food info
Transportation info
Housing info
Health info
The following are collected for use in calculating cost of food: meats, dairy products, produce, bakery products, miscellaneous grocery products, fast food, and average casual restaurant.
The data used to calculate the cost of food score is a sample of data pulled from ERI Economic Research Institute' Relocation Assessor. For a more detailed food price index, please try a free demo of the cloud-based Relocation Assessor.
The data used to calculate the cost of food score is a sample of data pulled from ERI Economic Research Institute' Relocation Assessor. For a more detailed food price index, please try a free demo of the cloud-based Relocation Assessor.
The cost of transportation score uses local data on commuting patterns and city dispersion combined with fuel cost factors, public transportation, and efficiency patterns of public transportation in relationship to a transportation price level index. A relative cost of airline travel component is also included. In major cities, where parking is a substantial cost, estimates are included for parking expenses during regular business hours.
Transportation factors also include the yearly total cost of operating automobile(s) and/or equivalent commuter expense for ten miles.The cost of operating an automobile defaults to 20 miles round trip daily, maintenance, taxes and licensing fees, insurance, gasoline costs including taxes, etc.Costs vary according to changes to number of vehicles, combined value and combined prose, and annual mileage/kilometers.Sources include IRS allowed reimbursement policies, local gasoline, insurance, licensing and maintenance/service prices.
The data used to calculate the cost of transportation score is a sample of data pulled from ERI Economic Research Institute's Relocation Assessor. For a more detailed transportation price index, please try a free demo of the cloud-based Relocation Assessor.
Transportation factors also include the yearly total cost of operating automobile(s) and/or equivalent commuter expense for ten miles.The cost of operating an automobile defaults to 20 miles round trip daily, maintenance, taxes and licensing fees, insurance, gasoline costs including taxes, etc.Costs vary according to changes to number of vehicles, combined value and combined prose, and annual mileage/kilometers.Sources include IRS allowed reimbursement policies, local gasoline, insurance, licensing and maintenance/service prices.
The data used to calculate the cost of transportation score is a sample of data pulled from ERI Economic Research Institute's Relocation Assessor. For a more detailed transportation price index, please try a free demo of the cloud-based Relocation Assessor.
The following are collected for use in determining the cost of housing score: square footage, monthly rent, home prices, and utilities.
For the estimated monthly rent prices, data on average and median rent price per square foot on a 900 square foot (2 bed room), unfurnished higher-quality apartment is collected.Estimated apartment rental prices assume a standard lease (usually 1-year) is signed.The same geographic assumptions and data standards used for home prices are applied to data collection and survey procedures.Utilities are estimated based on costs for common heating/cooling/sources of energy for the location. Water and sewer cost estimates are also included.
The data used to calculate the cost of housing score is a sample of data pulled from ERI Economic Research Institute's Relocation Assessor. For a more detailed housing price index, please try a free demo of the cloud-based Relocation Assessor.
For the estimated monthly rent prices, data on average and median rent price per square foot on a 900 square foot (2 bed room), unfurnished higher-quality apartment is collected.Estimated apartment rental prices assume a standard lease (usually 1-year) is signed.The same geographic assumptions and data standards used for home prices are applied to data collection and survey procedures.Utilities are estimated based on costs for common heating/cooling/sources of energy for the location. Water and sewer cost estimates are also included.
The data used to calculate the cost of housing score is a sample of data pulled from ERI Economic Research Institute's Relocation Assessor. For a more detailed housing price index, please try a free demo of the cloud-based Relocation Assessor.
The following are collected for use in the health care grade estimate: a "check-up" to a primary care physician, a regular cleaning with a dentist, and the cost of a widely prescribed non-generic pharmaceutical drug.
Health care services include out-of-pocket costs for the employee and carrier zone rates by location, along with hospital costs. They are based primarily upon group medical benefits as tracked by national carriers and in-house methodology. Health care services vary by family size.
The data used to calculate the cost of health care score is a sample of data pulled from ERI Economic Research Institute's Relocation Assessor. For a more detailed health care price index, please try a free demo of the cloud-based Relocation Assessor.
Health care services include out-of-pocket costs for the employee and carrier zone rates by location, along with hospital costs. They are based primarily upon group medical benefits as tracked by national carriers and in-house methodology. Health care services vary by family size.
The data used to calculate the cost of health care score is a sample of data pulled from ERI Economic Research Institute's Relocation Assessor. For a more detailed health care price index, please try a free demo of the cloud-based Relocation Assessor.
In this graph, we break down the overall cost of living into some of the major contributing factors. ERI downloads housing sales data from commercially available sources. Gasoline, consumables, and medical care premium costs are also collected from authoritative online databases. ERI research staff then audits these sources to help aid them in finding the cost of living compared to other locations.
Cost of Labor in Key West, FL
Lower than US Average
Cost of Labor in Boone, NC
Lower than US Average
The exact percent cost of labor differential can be found in ERI's Assessor Platform.
Area Information
Key West, Florida vs. Boone, North Carolina Salary Comparison
Average Salary in Key West, FL
$60,434 Yearly
$29 Hourly
Average Salary in Boone, NC
$56,427 Yearly
$27 Hourly
Median Household Income in Key West
The median household income is
$73,029
Median Household Income in Boone
The median household income is
$25,535
Median House Price in Key West
The median home price is
$686,700
Median House Price in Boone
The median home price is
$279,400
State Taxes in Florida
This ranking is based on income tax rates
6th lowest
state tax rate in the US
State Taxes in North Carolina
This ranking is based on income tax rates
18th highest
state tax rate in the US
Comparing Walk Scores
Walk Scores are provided by walkscore.com. These scores summarize the walkability and public transit options available in a city.
Walk Score in Key West, FL
Walk Scores are provided by walkscore.com. These scores summarize the walkability and public transit options available in a city.
Walk Score in Boone, NC
Walk Scores are provided by walkscore.com. These scores summarize the walkability and public transit options available in a city.
Employment Levels in Key West, FL vs. Boone, NC
Employment Rate per Month
Employment rate is calculated as the average change in the number of jobs added to the labor market per month over the span of the previous year.
Key West
-33
Boone
163
Labor Force Count
The labor force is estimated by the number of employed people plus the unemployed who are looking for work.
Key West
44,154
Boone
27,552
Unemployment Rate
Unemployment rate is calculated by dividing the number of unemployed individuals by all individuals currently in the labor force.
Key West
3%
Boone
5%
Upward Mobility Rate
Upward mobility is a measure of the average economic outcome of a child from a below-median income family compared to their parents.
Key West
44%
Boone
43%
Yearly Crime Overview in Key West, FL
Total Population:
24,060
Crime Rate:
2.31%
US National
Key West
Violent Crime
Property Crime
Total Crime
The crime rate in Key West is 2.31%. Crime rate is calculated by dividing the number of reported crimes by the total population.
Yearly Crime Overview in Boone, NC
Total Population:
20,321
Crime Rate:
1.53%
US National
Boone
Violent Crime
Property Crime
Total Crime
The crime rate in Boone is 1.53%. Crime rate is calculated by dividing the number of reported crimes by the total population.
Violent Crime Overview in Key West, FL
Total Violent Crime:
106
Violent Crime Rate:
0.44%
US National
Key West
Murder
Robbery
Assault
The violent crime rate in Key West is 0.44%. Violent crime rate is calculated by dividing the number of reported violent crimes (murder, robbery, and assault) by the total population.
Violent Crime Overview in Boone, NC
Total Violent Crime:
33
Violent Crime Rate:
0.16%
US National
Boone
Murder
Robbery
Assault
The violent crime rate in Boone is 0.16%. Violent crime rate is calculated by dividing the number of reported violent crimes (murder, robbery, and assault) by the total population.
Property Crime Overview in Key West, FL
Total Property Crime:
450
Property Crime Rate:
1.87%
US National
Key West
Burglary
Larceny
Vehicle Theft
Arson
The property crime rate in Key West is 1.87%. Property crime rate is calculated by dividing the number of reported property crimes (burglary, larceny, motor vehicle theft, and arson) by the total population.
Property Crime Overview in Boone, NC
Total Property Crime:
278
Property Crime Rate:
1.37%
US National
Boone
Burglary
Larceny
Vehicle Theft
Arson
The property crime rate in Boone is 1.37%. Property crime rate is calculated by dividing the number of reported property crimes (burglary, larceny, motor vehicle theft, and arson) by the total population.
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Cost of Living by Country
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FAQs
What is a cost of living index?
A cost of living index is a broad measurement of the cost of different expenses expected by the average person living in a certain location. Some of the categories tracked include health care costs, transportation, housing, groceries, and more. These numbers are tracked in specific locations to gauge how much it costs to live in a certain area over time.
Another good way to interpret this general number is to ask the question, "How many goods and/or services does a specific amount of money purchase in a given location?" An easy example would be that $100 goes further in Reno, Nevada, than it does in San Francisco, California. The goods and services tracked are need-based, meaning entertainment and other incurred expenses not required to live in a certain area are not tracked.
The main purpose of a cost of living index is to help a person quickly decide if moving from one location to another will increase or decrease quality of life.
How did we calculate our cost of living index?
Cost of living data are derived from ERI's cost of living surveys and web digitization of public domain records. Data are comprised of health care, transportation, housing, and grocery costs, which are then averaged out across the county. On the graphs above, the "0" represents the country's average. The percentage can either be lower, expressed by a negative number, or higher than the national average, expressed by a positive number. The important part to remember is the locations are compared to an average of other locations.
How did we calculate our cost of living index?
Cost of labor may sound like cost of living, but it refers to the price of labor as opposed to the cost to living in a location. Cost of labor refers to all the upfront costs that an employer must pay when hiring work from a particular area. This factors in costs such as the payroll taxes and required benefits when hiring from a particular location. This number is displayed as a percent average higher or lower than the national average. To see the cost of labor data for a particular location, please fill out this quote form with your location of interest.
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