Gross domestic product (GDP) is the primary measure of an area’s economy. GDP is the summation of all the money spent by consumers, businesses, and government in a given period. In the 1st quarter of 2023, the real GDP for Florida was $1.4 trillion in goods and services per year.

Real gross domestic product in Florida, by industry (Q1-2023)

Real GDP growth in 1^st quarter of 2023, by state;

Florida was tied for 10th

Florida cost of living:

Ranks 32^nd lowest cost of living in the United States.

The average total personal consumption cost in Florida is $50,689 per year

Nations large metros with biggest increase in living cost

4. Miami-Fort Lauderdale-Pompano Beach, FL

·      Percentage change in cost of living (2010–2020): +21.3%

·      Overall cost of living (compared to average): +10.0%

·      Cost of goods (compared to average): +2.9%

·      Cost of housing (compared to average): +44.1%

·      Cost of utilities (compared to average): -5.5%

3. Portland-Vancouver-Hillsboro, OR-WA

·      Percentage change in cost of living (2010–2020): +22.0%

·      Overall cost of living (compared to average): +5.7%

·      Cost of goods (compared to average): +3.8%

·      Cost of housing (compared to average): +30.5%

·      Cost of utilities (compared to average): -9.3%

2. Denver-Aurora-Lakewood, CO

·      Percentage change in cost of living (2010–2020): +22.9%

·      Overall cost of living (compared to average): +7.3%

·      Cost of goods (compared to average): +5.5%

·      Cost of housing (compared to average): +45.7%

·      Cost of utilities (compared to average): -14.4%

1. Seattle-Tacoma-Bellevue, WA

·      Percentage change in cost of living (2010–2020): +23.2%

·      Overall cost of living (compared to average): +12.0%

·      Cost of goods (compared to average): +11.4%

·      Cost of housing (compared to average): +52.3%

·      Cost of utilities (compared to average): -8.9%