Palmetto Estates 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.
IndexPalmetto EstatesFloridaNational
Cost of living index10499100
IndexPalmetto EstatesFloridaNational
Goods & Services index10599100
Groceries index103102100
Health care index10197100
Housing index10695100
Transportation index108100100
Utilities index99103100
A general overview of the cost of living index for Palmetto Estates, FL is displayed above. In Palmetto Estates, FL, the overall cost of living index is 104, which is 6% higher than the Florida average and 4% higher 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 Palmetto Estates, FL, the city's goods and services are 5% higher than the Florida average and 5% higher than the U.S. average.

Did you know?

  • The cost of living in Palmetto Estates is 6% higher than the Florida average.
  • The cost of living in Palmetto Estates is 4% higher than the national average.
  • The cost of housing in Palmetto Estates is 6% 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 Palmetto Estates, FL Cost of living To Other Cities

Salary Calculator

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Health care index
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The salary calculator allows you to compare how much your current salary in Palmetto Estates, FL would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Palmetto Estates, FL, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Palmetto Estates, FL salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$65,667$5,472$1,532$1,970
Renters$41,250$3,438$962$1,238
The affordability of the housing market in Palmetto Estates, FL as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Palmetto Estates, FL homeowners, the median income is $65,667. This indicates that a monthly maximum of $1,532 should be spent by homeowners on all housing related costs. Renters have a median income of $41,250. This indicates that renters should have a maximum of $962 used for their rent related monthly costs.

Florida Sales Tax

StateGeneral Sales TaxWith Max Surtax
Florida6%7.5%

Florida Income Tax

StateIncome Tax (Low)Income Tax (High)
Florida0%0%
The Florida sales tax and Florida income tax rates should definitely be considered when determining the overall cost of living in Palmetto Estates, FL. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Florida sales tax is 6% and the maximum surtax is 7.5%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Florida income tax rates range from 0% to 0%.

Goods & Services

ItemPalmetto EstatesNational avg.Difference
Haircut $15.47$15.560.6%
Beauty Salon $61.93$36.1171.5%
Toothpaste $2.40$2.472.8%
Shampoo $0.98$0.961.2%
Movie $12.52$10.1323.7%
Bowling $6.65$4.7440.4%

Groceries

ItemPalmetto EstatesNational avg.Difference
Ground Beef $4.56$3.9814.5%
Fried Chicken $1.56$1.4111.1%
Milk $2.49$2.0620.7%
Potatoes $3.46$2.9816.1%
Pizza $8.99$9.475.1%
Beer $9.34$8.796.2%

Health Care

ItemPalmetto EstatesNational avg.Difference
Optometrist $96.00$101.045.0%
Doctor $95.56$107.4411.1%
Dentist $97.13$90.427.4%
Ibuprofen $11.13$9.2819.9%
Lipitor $415.12$426.502.7%

Housing

ItemPalmetto EstatesNational avg.Difference
Home Price $154,600.00$175,700.0012.0%
Avg. Mortgage Payment $1,272.27$1,133.2312.3%
Apartment Rent $1,353.00$920.0047.1%

Transportation

ItemPalmetto EstatesNational avg.Difference
Gasoline $2.05$1.992.7%
Tire Balancing $55.40$45.7621.1%

Utilities

ItemPalmetto EstatesNational avg.Difference
All Electricity$152.73$163.816.8%
Phone $30.33$28.396.9%
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.
Fisher Island, FL2401044%
Homestead Base, FL1,07078-22%
Brownsville, FL14,83592-8%
Leisure City, FL24,12594-6%
Gladeview, FL11,82595-5%
Palmetto Estates, FL15,9691044%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Anacortes, WA15,96512626%
East Riverdale, MD15,97511818%
Hueytown, AL15,95685-15%
Ukiah, CA15,95612020%
Woodcrest, CA15,95113333%
Palmetto Estates, FL15,9691044%
Source: The Palmetto Estates, FL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.