| Index | Carrollwood | Florida | National |
| Cost of living | 115 | 102 | 100 |
| Groceries | 102 | 102 | 100 |
| Health care | 103 | 104 | 100 |
| Housing | 140 | 97 | 100 |
| Transportation | 104 | 103 | 100 |
| Utilities | 108 | 110 | 100 |
| Lifestyle & Entertainment | 105 | 104 | 100 |
| Household Items | 104 | 102 | 100 |
| Education & Childcare | 103 | 106 | 100 |
Knowing the cost of living in Carrollwood allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Carrollwood stands at 115, marking it 15% higher than the national average.
Housing costs are a major factor in the Carrollwood cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 39.6% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.
Is Carrollwood affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Carrollwood, for instance, where the median home price falls 45.3% higher than the national average, and monthly rent rates are 26.3% higher than usual. Additionally, median income levels contribute to the equation, with Carrollwood flaunting a median household income of $95,316, 17.2% higher than the national norm.
Groceries: Grocery prices have seen substantial hikes in the last 2-3 years, with some markets witnessing food cost increases of over 20% during this period. Conversely, certain markets have experienced only moderate upticks. These variations in food expenses can have a substantial impact on the overall cost of living in any locality. In Carrollwood, the groceries index is 2.2% higher than the national average.
Housing: High demand for housing in desirable locations can drive up property prices and rental rates. This can be a primary contributor to a higher cost of living. While low demand for housing, especially in undesirable locations, can have the reverse effect and drive prices down, resulting in a lower cost of living. The housing index in Carrollwood, is 39.6% higher than the national average.
Healthcare: Healthcare costs and insurance premiums can undergo substantial fluctuations based on the city or state of residence. Elements such as the availability of healthcare facilities, out-of-pocket costs for medical consultations, dental expenses, prescription medication charges and specialized medical care fees all contribute to variations in the cost of living. In Carrollwood, healthcare costs are 2.8% higher than the national average.
The Carrollwood cost of living estimates above use a normalized U.S. average of 100 as the baseline for comparison. Housing values incorporate local home price and rental information from the U.S. Census, while all other estimates are AI-assisted and modeled using expected everyday expenses, local market trends, climate, and transportation-related cost pressures. The results are intended for practical city-to-city comparisons.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $117,727 | $9,811 | $2,747 | $3,532 |
| Renters | $74,135 | $6,178 | $1,730 | $2,224 |
| State | General Sales Tax | With Max Surtax |
| Florida | 6% | 7.5% |
| State | Income Tax (Low) | Income Tax (High) |
| Florida | 0% | 0% |
| City | Population | Cost of Living Index | National Avg. |
| New Port Richey, FL | 17,130 | 92 | 8.0% |
| Holiday, FL | 21,830 | 92 | 7.9% |
| Beacon Square, FL | 7,302 | 92 | 7.7% |
| South Highpoint, FL | 6,065 | 94 | 6.3% |
| Elfers, FL | 13,209 | 94 | 6.4% |
| Carrollwood, FL | 36,424 | 115 | 14.6% |
| City | Population | Cost of Living Index | National Avg. |
| La Vergne, TN | 36,426 | 102 | 2.0% |
| Richmond, IN | 36,416 | 84 | 15.6% |
| Wildwood, MO | 36,455 | 124 | 23.6% |
| Buenaventura Lakes, FL | 36,389 | 108 | 8.2% |
| Lufkin, TX | 36,382 | 91 | 9.4% |
| Carrollwood, FL | 36,424 | 115 | 14.6% |
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