Palm Springs 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 SpringsFloridaNational
Cost of living index92100100
IndexPalm SpringsFloridaNational
Goods & Services index99101100
Groceries index102105100
Health care index9997100
Housing index6895100
Transportation index118105100
Utilities index97102100
A general overview of the cost of living index for Palm Springs, FL is displayed above. In Palm Springs, FL, the overall cost of living index is 92, which is 8% lower than the Florida average and 8% lower than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Palm Springs, FL, the city's goods and services are 2% lower than the Florida average and 1% lower than the U.S. average.

Did you know?

  • The cost of living in Palm Springs is 8% lower than the Florida average.
  • The cost of living in Palm Springs is 8% lower than the national average.
  • The cost of housing in Palm Springs is 32% lower 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 Springs, FL Cost of living To Other Cities

Salary Calculator

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Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
Use the salary calculator to compare your current salary in Palm Springs, FL to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Palm Springs, FL, then you would need to earn more income in order to maintain the same standard of living. To use the Palm Springs, FL salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$36,265$3,022$846$1,088
Renters$31,217$2,601$728$937
A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Palm Springs, FL, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Palm Springs, FL has a median income of about $36,265 for people who own homes. Based on that number, a person should spend a maximum of $846 on expenses related to housing. Renters have a slightly different median income, which is $31,217. Based on this average, renters should spend no more than $728 on all of their rental costs if they want to maintain a non-impoverished standard of living.

Florida Sales Tax

StateGeneral Sales TaxWith Max Surtax
Florida6%7.5%

Florida Income Tax

StateIncome Tax (Low)Income Tax (High)
Florida0%0%
When you are determining the total cost of living in Palm Springs, FL you will want to make sure you consider both the Florida sales tax and the Florida income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Florida is 6%, with the highest surtax being 7.5%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Florida have a range from 0% to 0%.

Goods & Services

ItemPalm SpringsNational avg.Difference
Haircut $12.83$14.5912.1%
Beauty Salon $49.75$34.6843.5%
Toothpaste $2.91$2.4717.7%
Shampoo $1.03$1.020.8%
Movie $12.41$9.8725.8%
Bowling $4.53$4.393.1%

Groceries

ItemPalm SpringsNational avg.Difference
Ground Beef $5.12$4.4814.4%
Fried Chicken $1.56$1.466.6%
Milk $2.82$2.3619.7%
Potatoes $3.32$3.068.4%
Pizza $8.99$9.242.7%
Beer $8.02$8.637.1%

Health Care

ItemPalm SpringsNational avg.Difference
Optometrist $95.80$99.784.0%
Doctor $87.00$105.0317.2%
Dentist $87.40$88.701.5%
Ibuprofen $11.59$9.4123.1%
Lipitor $332.58$298.5011.4%

Housing

ItemPalm SpringsNational avg.Difference
Home Price $89,400.00$175,700.0049.1%
Avg. Mortgage Payment $1,564.37$1,081.0344.7%
Apartment Rent $978.00$920.006.3%

Transportation

ItemPalm SpringsNational avg.Difference
Gasoline $2.35$2.0912.6%
Tire Balancing $59.59$45.2931.6%

Utilities

ItemPalm SpringsNational avg.Difference
All Electricity$166.37$170.802.6%
Phone $27.52$28.262.6%
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.
Schall Circle, FL1,12988-12%
Plantation Mobile Home Park, FL1,03188-12%
San Castle, FL4,51388-12%
Gun Club Estates, FL93690-10%
Seminole Manor, FL2,46490-10%
Palm Springs, FL21,30292-8%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Biddeford, ME21,30311313%
St. Andrews, SC21,29891-9%
East Moline, IL21,29489-11%
Merrick, NY21,29317979%
Union Hill-Novelty Hill, WA21,31316363%
Palm Springs, FL21,30292-8%
Source: The Palm Springs, FL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.