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The Cost of Living in Longboat Key, FL

cost of living in Longboat Key, FL

Longboat Key, FL is part of the Sarasota-Bradenton Metro area. It is equally divided between Manatee and Sarasota counties and serves as the northern boundary of Sarasota County. Longboat Key’s sandy coastline extends for 12 miles, attracting turtles who nest and lay their eggs. In fact, the “Key” gets its name from  the Spanish term “cayo,” which translates to “reef” or “shoal.”  

In terms of cost of living, ZeroDown ranks Longboat Key 78th out of 273 cities across the United States. Its cost of living is estimated to be 101.2 percent of the national average.. 

Generally speaking, Longboat Key is considered an average U.S. city as its cost of living can be between 1% and 9% higher than the national average. Depending on the resource you’re checking, the figures can vary. In some sources, such as 24/7 Wall St, the cost of living in Longboat Key is listed as lower than the national average.

Longboat Key vs Other U.S. Cities 

It’s possible to get a greater understanding of Longboat Key’s cost of living by first comparing Sarasota County to other major cities. After that, we will compare Sarasota County’s cost of living to Longboat Key. The comparisons might surprise you.

Here is a summary of the breakdown from the Economic Development Corporation Sarasota County, which compares how much cheaper Sarasota County is compared to the following U.S. cities:

U.S. City % Sarasota County Is Cheaper Biggest Factor in Cost of Living Difference (% Cheaper)
New York, NY45.1%Median home cost (61% cheaper)
Chicago, IL3.9%Transportation (34% cheaper)
Washington, D.C.32.5%Median home cost (52% cheaper)
Boston, MA36.8%Median home cost (56% cheaper)

Thus, if you’re from one of the big cities and are looking to move to Sarasota County this may be a good idea as median home costs tend to be lower. Some may find it favorable to invest in properties since, according to, Florida has one of the lowest taxes in the country. Property taxes are close to the national average, and it also has no state income tax. However, you do still have to pay federal taxes, and Florida has a 6% statewide sales tax. 

Longboat Key vs Sarasota County

Aside from comparing the cost of living in Sarasota County to other major U.S. cities, it may also help to compare Sarasota County stats with Longboat Key, Florida. 

Based on the data from HomeSnacks, Longboat Key is considered the 324th most expensive place in Florida, ranking 6,083 out of 6,522 in terms of affordability. Its cost of living is 1.7x higher than the national average. 

Further to these figures, one of the biggest differences between Longboat Key and  Sarasota County overall is median home value. Here is the November 2021 supporting data taken from the Florida Realtors® with data compiled from Stellar MLS.

Statistic Longboat Key Sarasota County
Median home value $1,760,000$419,225
Median rent $3,500$2,051
Median income $114,762$62,236
Home value to income 6.5x3.9x
Rent to monthly income 0.30x0.32x

In short, Longboat Key may be cheaper than other major U.S. cities, but its cost of living can be higher than other Florida cities, primarily when it comes to expenses involving a home purchase or rent. 

However, this doesn’t necessarily mean that you should cross off  Longboat Key from your list of places to move to. With a quaint population of just over 7,000 people, Longboat Key can be a lovely place to live for both families and those looking to retire. 

Data from points out that around 70% of the population is composed of retirees aged 65 and above. Those within the age range of 55 to 64 come in second, comprising 18% of the population. Yet, covid is changing these statistics. Longboat Key is seeing a growing number of young families and working professionals. In fact, the area has seen a 27% increase in millennial residents from 2010 to 2017, as well as a 33% growth of new households with children under the age of 18.

Factors That Can Affect the Cost of Living in Longboat Key

A lot of factors go into the Cost of Living. It’s mostly the availability and price of goods, services, & amenities relative to one’s paycheck or earnings that determine cost-of-living. The less money you have, the more that certain expenses will impact your monthly budget, which means it can be relatively expensive to live in Longboat Key.

Below are factors that can affect the cost of living in Longboat Key. They are categorized as utilities and transportation, food and grocery, and healthcare. provides average expenses for each category: 

Utilities and Transportation

  • Energy bill: $177.22/month
  • Phone bill: $188.91/month
  • Gas: $2.39/gallon 

Food and Grocery 

  • Loaf of bread: $3.98
  • Gallon of milk: $2.32
  • Carton of eggs: $2.16
  • Bunch of bananas: $4.02
  • Hamburger: $5.07


  • Doctor’s visit: $129.42
  • Dentist visit: $111.18
  • Optometrist visit: $121.27
  • Medicines: $515.53
  • Veterinary visit: $58.52

Keep in mind, however, that some of these figures can vary depending on a number of other variables. For one thing, Florida is notorious for extremely hot summers. Where you live and the structure of your house are examples of variables that can influence how much energy costs may rise as a result of air conditioning usage. During the winter months, on the other hand, heating expenses can be significantly lower than cooling costs.

Additionally, according to, Florida is ranked 49 out of all the states when it comes to healthcare access and affordability. Healthcare expenditures, in particular emergency room visits and prescription drugs, are significant components of the cost of living.

If you relocate to Longboat Key, how much you’ll be paying for healthcare and whether or not you will be able to obtain it are major indicators of how much you will spend on this essential service. The rates that insurance companies charge in a state and the out-of-pocket expenses that you must pay for care are used to determine affordability. If premiums or out-of-pocket expenses are high, your cost of living will go up.

Is It Worth It to Move to Longboat Key?

Longboat Key, Florida was just ranked the No. 5 best island in the U.S. by Travel & Leisure, and there is good reason for this accolade. There are plenty of good restaurants, beaches, and attractions to enjoy. Despite the scarcity of healthcare on the island, accessibility of services are a short drive away. 

Longboat Key is an excellent place to live if you want a tranquil environment with very low crime rates. If you are considering moving to Longboat Key and you are willing to spend a bit more on a home, then you’ve just committed to a  vacation that never ends.

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