Palm City cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexPalm CityFloridaNational
Cost of living index118100100
IndexPalm CityFloridaNational
Goods & Services index102101100
Groceries index113105100
Health care index9697100
Housing index14495100
Transportation index99105100
Utilities index124102100
The above illustration supplies generalized information for the Palm City, FL cost of living index. Compared to other cities in Florida and cities across the country, the cost of living index in Palm City, FL is 118, which is 18% higher than the Florida average and 18% higher than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Palm City, FL are 1% higher than the average for Florida and 2% higher than the rest of the country.

Did you know?

  • The cost of living in Palm City is 18% higher than the Florida average.
  • The cost of living in Palm City is 18% higher than the national average.
  • The cost of housing in Palm City is 44% higher than the national average.
  • Florida general sales tax is 18% higher than the national average.
  • Florida state income tax is 100% lower than the national average.

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Compare Palm City, FL Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
The salary calculator is meant to help you compare your salary in Palm City, FL to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Palm City, FL, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Palm City, FL salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$80,630$6,719$1,881$2,419
Renters$54,512$4,543$1,272$1,636
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Palm City, FL, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Palm City, FL homeowners have a median income of $80,630. Using that number, you will come up with a maximum of $1,881 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $54,512, which means there is a maximum of $1,272 to be spent on the costs of renting a home or apartment.

Florida Sales Tax

StateGeneral Sales TaxWith Max Surtax
Florida6%7.5%

Florida Income Tax

StateIncome Tax (Low)Income Tax (High)
Florida0%0%
One thing to keep in mind when considering the cost of living in Palm City, FL is the Florida sales tax and Florida income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Florida sales tax rate is 6% and the maximum surtax that can be charged is 7.5%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Florida income tax rates range from 0% to 0%.

Goods & Services

ItemPalm CityNational avg.Difference
Haircut $14.67$14.590.5%
Beauty Salon $42.67$34.6823.0%
Toothpaste $3.00$2.4721.3%
Shampoo $1.05$1.022.7%
Movie $9.13$9.877.5%
Bowling $4.75$4.398.2%

Groceries

ItemPalm CityNational avg.Difference
Ground Beef $4.49$4.480.3%
Fried Chicken $1.64$1.4612.0%
Milk $2.83$2.3620.1%
Potatoes $3.94$3.0628.7%
Pizza $8.99$9.242.7%
Beer $8.99$8.634.1%

Health Care

ItemPalm CityNational avg.Difference
Optometrist $105.00$99.785.2%
Doctor $77.53$105.0326.2%
Dentist $95.00$88.707.1%
Ibuprofen $11.24$9.4119.4%
Lipitor $280.37$298.506.1%

Housing

ItemPalm CityNational avg.Difference
Home Price $259,000.00$175,700.0047.4%
Avg. Mortgage Payment $973.83$1,081.039.9%
Apartment Rent $1,254.00$920.0036.3%

Transportation

ItemPalm CityNational avg.Difference
Gasoline $2.15$2.092.9%
Tire Balancing $39.98$45.2911.7%

Utilities

ItemPalm CityNational avg.Difference
All Electricity$209.21$170.8022.5%
Phone $35.75$28.2626.5%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Ocean Breeze Park, FL25884-16%
River Park, FL5,35291-9%
Indiantown, FL5,98193-7%
Indian River Estates, FL5,95395-5%
Stuart, FL15,85097-3%
Palm City, FL23,38011818%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Duncan, OK23,36482-18%
Ashland, CA23,36012828%
Elk River, MN23,3461077%
Vero Beach South, FL23,34399-1%
Derby, KS23,41995-5%
Palm City, FL23,38011818%
Source: The Palm City, FL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.