Sarasota, situated in Florida on the shores of the picturesque Gulf of Mexico, serves as the administrative centre of the district of the same name with a population of 53,000 people. As the 75th largest city in Florida, Sarasota boasts an average resident age of 49 (46 for men and 52 for women). This cosy town is an attractive place to live for several reasons, which we are going to discuss in this post.
Content:
- Sarasota overall ranking
- Sarasota health system
- Quality of education
- Tourism and entertainment sector
- How much money do you need to live in the city?
- Average cost of purchasing and renting housing
- The situation in the labour market and the level of wages
- State Taxes
- Buying a home in Florida
Sarasota overall ranking
Niche.com ranks Sarasota as an "A" city, which means it has good public schools, a friendly atmosphere, a low crime rate and a variety of leisure activities. Specifically, the city is ranked 72nd best for retirement in Florida and 82nd in the state concerning public schools (656 total). Furthermore, Sarasota is also ranked 185th out of 1,297 top cities for young professionals in the state.
When selecting a property in Florida, Sarasota stands out as a preferred choice for many. Popular areas to live here include:
- Rosemary District
- McClellan Park
- Arlington Park
- Gillespie Park
- Laurel Park
- Southside Village
- Indian Beach/Sapphire Shores
However, Sarasota certainly has its downsides, including a considerably high cost of housing, hot weather in the summer and traffic jams due to the large influx of tourists during the hot season.
Sarasota health system
Sarasota boasts 4 hospitals that have gained recognition for their high level of medical care. Notably, the intensive care unit at Sarasota Memorial Hospital is recognized as one of the best in the country. In this city, every family, regardless of socioeconomic status, can count on excellent health care. Rest assured that you and your loved ones will receive quality medical care after your move to Sarasota.
Quality of education
Sarasota County is home to approximately 90 schools, including public and private institutions. Many of these schools are renowned for their high quality of education and are considered among the best in the state, with some even ranking in the top 20 in the country. For example, Pine View School was recognized as the best in the United States.
In addition, there are 2 universities in Sarasota. One of them, New College, was highly rated by US News and Report and is ranked 6th among the best colleges in the United States. Another notable institution is the Ringling School of Art and Design, known for producing numerous award winners, including those honoured with Oscars, American Advertising Awards and Emmys.
Tourism and entertainment sector
Tourism is very important to Sarasota, as this sector of the economy brings significant income to the treasury of the city and the state as a whole. It is a sought-after destination for tourists who appreciate entertainment, natural beauty and the various local attractions.
Sarasota is known for its beaches, the main ones are:
- Siesta Key Beach
- Sarasota Gay Beach
- Lido Beach Park
- Longboat Key Beach
The city boasts popular tourist attractions, such as The Ringling Museum, Sarasota Jungle Gardens, Big Cat Habitat and Marie Selby Botanical Gardens. They also play an important role in creating jobs and contributing to the development of the city's economy. In addition, Sarasota has numerous shops, shopping malls and boutiques such as St. Armands Circle and UTC Mall. Living in Sarasota is interesting as there’s always something to do, from beach activities and cultural events to shopping or relaxing in a restaurant.
How much money do you need to live in the city?
The cost of living in Sarasota varies, based on individual needs and preferences. However, the average monthly expenses for a family of four are approximately USD 3,800. For an individual, monthly spending is about USD 1,050 per month.
For example, the average monthly electricity bill is about USD 200, calculated by dividing the average monthly consumption by the cost per kilowatt-hour of electricity.
Average cost of purchasing and renting housing
Approximately 36.9% of residents are renters and only 3.2% of homes are currently available for rent. Sarasota is a fast-growing city and the demand for housing is increasing daily. However, demand significantly exceeds supply, resulting in an upward trend in real estate prices. The average cost of a home as of the end of 2023 is USD 580,000 and the average rent is USD 2,159.
Prices for apartments in Florida in this city start at USD 600,000 and continue to rise.
The situation in the labour market and the level of wages
When considering a move, understanding the structure of the local labour market can be crucial. Here’s some information about its condition. Sarasota's unemployment rate is about 4.6%, which is below the national average of 6.0%.
- Jobs here are expected to increase by 44.61% in the future.
- Job openings in Sarasota have seen a 2.6% increase over the past year.
The average annual salary in the city is approximately USD 42,700, with an average hourly pay of about USD 21. The average weekly salary is about USD 821 and the average monthly income is approximately USD 3,558. The minimum wage in Florida is USD 10 per hour.
State Taxes
Another crucial aspect to consider is taxes. In Florida, there’s no state income tax, meaning no payroll or individual income charges. Sales tax in Florida ranges from 6% to 8.5%, depending on the municipality. Therefore, when purchasing goods and services, you may be charged this percentage as a value-added tax. The average property tax rate in Florida is approximately 0.83%, though it may vary depending on the value of your property. Florida's gas tax is 36.4 cents per gallon.
Buying a home in Florida
One of the reasons that encourages Americans and expats to choose Florida, particularly Sarasota, for relocation is the zero income tax. The sunny weather is another advantage of the city, attracting numerous tourists and expats. The year-round warm climate, with over 200 days of sunshine, creates ideal conditions for outdoor exploration. Siesta Key Beach has been repeatedly voted the best in the United States and is regularly listed among the best in the world. Its white sand and warm coastal waters make Siesta Key an ideal destination for beach lovers. You’ll also find many galleries, art museums and theatres in the city, where exhibitions and performances are constantly held.
If you are planning to purchase real estate in Florida and, in particular, in Sarasota, we recommend using our real estate website. On our ultimate platform, you can find various property listings that match your requirements and needs. Our easy-to-use filters allow you to search by area, location, price and other parameters. We have presented on our platform. Find your ideal house in Florida with us today!