| Index | Lake Worth | Florida | National |
| Cost of living | 100 | 102 | 100 |
| Groceries | 103 | 102 | 100 |
| Health care | 104 | 104 | 100 |
| Housing | 89 | 97 | 100 |
| Transportation | 103 | 103 | 100 |
| Utilities | 111 | 110 | 100 |
| Lifestyle & Entertainment | 101 | 104 | 100 |
| Household Items | 102 | 102 | 100 |
| Education & Childcare | 109 | 106 | 100 |
Knowing the cost of living in Lake Worth 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 Lake Worth stands at 100, marking it 0% equal to the national average.
In Lake Worth, daily expenses such as food, housing, lifestyle expenses, transportation and health care are in line with comparable areas and about average when compared to all cities across the nation. This ensures that the cost of living in Lake Worth will resemble that of an average city, contributing to a manageable cost of living.
Nobody knows their city better than the people who actually live there. So, we asked 12 local residents how they would rate the cost of living in Lake Worth and this is how they responded. 50% of people said that the cost of living was affordable, with prices decreasing, while 50% of people said that the cost of living was very expensive and prices continue to rise.
Is Lake Worth 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 Worth, for instance, where the median home price falls 14.3% lower than the national average, and monthly rent rates are 2.2% lower than usual. Additionally, median income levels contribute to the equation, with Lake Worth flaunting a median household income of $52,867, 35% lower than the national norm.
Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in Lake Worth comes in at 10.9% higher than the national average.
Housing: Elevated demand for housing within coveted locales has the propensity to escalate both property values and rental rates, thereby serving as a primary catalyst for an augmented cost of living. Conversely, areas witnessing diminished housing demand, particularly within less desirable environs, often experience an inversely proportional effect, leading to price reductions and subsequently contributing to a more modest cost of living. In Lake Worth, the housing index is 10.7% lower than the national average.
Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Lake Worth, the groceries index is 2.8% higher than the national average.
The Lake Worth 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 | $84,868 | $7,072 | $1,980 | $2,546 |
| Renters | $39,010 | $3,251 | $910 | $1,170 |
| 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. |
| Plantation Mobile Home Park, FL | 1,699 | 87 | 12.6% |
| Mangonia Park, FL | 2,301 | 98 | 2.5% |
| San Castle, FL | 4,211 | 101 | 0.8% |
| Royal Palm Estates, FL | 1,662 | 103 | 2.6% |
| Westgate, FL | 10,229 | 102 | 2.3% |
| Lake Worth, FL | 38,026 | 100 | 0.2% |
| City | Population | Cost of Living Index | National Avg. |
| Lima, OH | 38,026 | 82 | 18.4% |
| Waxahachie, TX | 38,021 | 103 | 2.6% |
| Winter Springs, FL | 38,040 | 116 | 16.1% |
| Greenfield, WI | 38,049 | 99 | 0.9% |
| Addison, IL | 38,050 | 110 | 10.3% |
| Lake Worth, FL | 38,026 | 100 | 0.2% |
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