| Index | Lake Mary | Florida | National |
| Cost of living | 128 | 102 | 100 |
| Groceries | 102 | 102 | 100 |
| Health care | 106 | 104 | 100 |
| Housing | 182 | 97 | 100 |
| Transportation | 106 | 103 | 100 |
| Utilities | 108 | 110 | 100 |
| Lifestyle & Entertainment | 108 | 104 | 100 |
| Household Items | 101 | 102 | 100 |
| Education & Childcare | 105 | 106 | 100 |
Understanding the cost of living in Lake Mary can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Lake Mary cost of living index is 128, which is 28% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.
If you value affordability in your search for a new place to live, Lake Mary may not be the most suitable option, as it stands out as one of the priciest areas in the entire United States. Only a small fraction of regions have a cost of living that is more than 20% higher than the national average, and regrettably, Lake Mary falls into this category, which may not align with your desire for an affordable place to call home.
Housing costs make up a big chunk of the cost of living in Lake Mary, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 81.5% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.
The most insightful perspective on a city comes from its residents. We recently surveyed 12 locals to gauge their perception of the cost of living in Lake Mary. The feedback revealed that 42% of respondents found the cost of living to be reasonable, with prices on the decline, while 58% regarded it as notably expensive with prices that continue to rise.
Is Lake Mary 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 Lake Mary, for instance, where the median home price falls 82.9% higher than the national average, and monthly rent rates are 78.3% higher than usual. Additionally, median income levels contribute to the equation, with Lake Mary flaunting a median household income of $134,965, 65.9% higher than the national norm.
Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Lake Mary, the groceries index registers 1.9% higher than the national average.
Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Lake Mary, the transportation index is 5.9% higher than the national average.
Housing: When everyone's vying for homes in popular areas, it drives up property prices and rents, making the overall cost of living surge. On the flip side, in less sought-after locales, where housing demand is low, prices tend to dip, resulting in a more economical cost of living. In Lake Mary, the housing index comes in at 81.5% higher than the national average.
The Lake Mary cost of living data displayed above uses a U.S. average baseline of 100 to provide a practical way to compare living expenses across cities. Housing estimates incorporate U.S. Census home price and rental data, while all other values are generated using AI-assisted models based on everyday expense expectations, regional pricing trends, climate, transportation patterns, and local economic conditions. These values are designed for directional 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 | $155,406 | $12,951 | $3,626 | $4,663 |
| Renters | $102,497 | $8,541 | $2,391 | $3,075 |
| 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. |
| Sorrento, FL | 143 | 103 | 3.4% |
| Clarcona, FL | 4,840 | 93 | 6.7% |
| Pine Lakes, FL | 1,167 | 93 | 7.1% |
| Zellwood, FL | 2,952 | 95 | 4.7% |
| Eatonville, FL | 2,489 | 98 | 2.4% |
| Lake Mary, FL | 17,634 | 128 | 27.8% |
| City | Population | Cost of Living Index | National Avg. |
| Clive, IA | 17,633 | 110 | 10.4% |
| Colonial Heights, VA | 17,631 | 103 | 2.9% |
| Mattoon, IL | 17,637 | 84 | 16.0% |
| North Canton, OH | 17,640 | 93 | 6.8% |
| Lebanon, OR | 17,626 | 105 | 5.1% |
| Lake Mary, FL | 17,634 | 128 | 27.8% |
Here are the best places to live in Florida
Most Dangerous Cities In The US
Check out the 10 most dangerous cities in Florida
These are the largest cities in Florida