TAMPA, Fla. (WFLA) – A new report released Monday shows that many Tampa Bay families have more than $100,000 in living, with almost half of their families struggling to buy the basics.
Annual Asset Limits, Income Constraints, Employed (Alice) Report revealed that the household survival budget for four-family infants and toddlers in Pinellas County has risen to $108,480. In Sarasota County, it swelled to $104,424, the report said.
Alice reports that the survival budget reflects the lowest cost of living and work in today’s economy. Includes housing, childcare, food, transportation, healthcare and basic smartphone plans.
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The report also found that Pinellas County households need a stable budget of $145,824 for basic necessities, savings, emergency situations, taxes and retirement.
Statewide, households are below federal poverty levels or are Alice’s households, the report found.
“The Florida Alice household survival budget for a family of four with two adults, with toddlers and preschoolers, has reached $86,688, well above the federal poverty threshold of $30,000,” the report states.
According to the report, let’s take a look at the financial challenges across Tampa Bay.
Hillsboro County
Population: 1,535,564 | Households: 593,029 Survival budget required: Median income of $96,744: $76,687 Alice households: 32% 46% of households fall below Alice’s threshold
Pinellas County
Population: 961,596 | Households: 439,896 Survival budget required: Median income of $108,480: $70,768 Alice households: 36% 46% of households fall below Alice’s threshold
Sarasota County
Population: 469,013 | Households: 218,010 Survival budget required: Median income of $104,424: $77,705 Alice households: 34% 43% of households are below Alice’s threshold
Manatee County
Population: 441,095 | Households: 190,091 Survival budget required: Median income of $95,004: $79,524 Alice households: 31% 42% of households below Alice’s threshold
Desoto County
Population: 34,719 | Households: 12,656 Survival budget required: Median income of $77,928: $50,868 Alice Household: 40% of households 59% below Alice’s threshold (all figures based on four families: based on two adults, toddlers and kindergarteners)
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