Palm Valley, Florida Cost Of Living

Buy Rent

F

Overall 23%

Goods & Services 7%

Housing 93%

Date & Last Updated: This data reflects 2019 and was released from C2ER in January, 2020; this is the most current data available.

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Palm Valley	Florida	National
Cost of living	123	99	100
Goods & Services	93	99	100
Groceries	100	105	100
Health care	87	100	100
Housing	193	96	100
Transportation	84	98	100
Utilities	98	102	100

Key findings

The cost of living in Palm Valley is 24% higher than the Florida average
The cost of living in Palm Valley is 23% higher than the national average
Palm Valley housing is 93% 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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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$111,197	$9,266	$2,594	$3,336
Renters	$49,881	$4,157	$1,164	$1,497

A good way to judge both the affordability of the housing and the cost of living in Palm Valley is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Palm Valley has a median income of about $111,197 for people who own homes. Based on that number, a maximum of $2,594 should be spent on expenses related to housing. Renters have a slightly different median income, which is $49,881. Based on this average, renters should spend no more than $1,164 on all rental costs if they want to maintain a non-impoverished standard of living.

Florida Sales Tax

State	General Sales Tax	With Max Surtax
Florida	6%	7.5%

Florida Income Tax

State	Income Tax (Low)	Income Tax (High)
Florida	0%	0%

Goods & Services

Item	Palm Valley	National avg.	Difference
Haircut	$14.20	$17.49	18.8%
Beauty Salon	$52.00	$38.17	36.2%
Toothpaste	$2.46	$2.32	6.0%
Shampoo	$0.94	$1.01	7.1%
Movie	$11.17	$10.72	4.2%
Bowling	$13.60	$13.86	1.9%

Groceries

Item	Palm Valley	National avg.	Difference
Ground Beef	$4.03	$3.90	3.3%
Fried Chicken	$1.28	$1.40	8.3%
Milk	$2.02	$1.96	2.9%
Potatoes	$4.06	$3.18	27.6%
Pizza	$8.99	$10.39	13.5%
Beer	$9.24	$9.23	0.1%

Health Care

Item	Palm Valley	National avg.	Difference
Optometrist	$63.80	$106.34	40.0%
Doctor	$82.50	$115.25	28.4%
Dentist	$97.20	$98.38	1.2%
Ibuprofen	$8.79	$9.26	5.1%
Lipitor	$433.34	$466.47	7.1%

Housing

Item	Palm Valley	National avg.	Difference
Home Price	$412,300.00	$184,700.00	123.2%
Avg. Mortgage Payment	$961.96	$1,273.32	24.5%
Apartment Rent	$1,166.00	$949.00	22.9%

Transportation

Item	Palm Valley	National avg.	Difference
Gasoline	$2.50	$2.59	3.7%
Tire Balancing	$32.33	$48.90	33.9%

Utilities

Item	Palm Valley	National avg.	Difference
All Electricity	$158.65	$167.60	5.3%
Phone	$184.29	$163.42	12.8%

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, State	Population	Cost of Living Index	National Avg.
Jacksonville Beach, FL	22,519	108	8%
Atlantic Beach, FL	13,089	114	14%
Fruit Cove, FL	31,419	114	14%
Neptune Beach, FL	6,817	115	15%
Nocatee, FL	9,836	121	21%
Palm Valley, FL	21,441	123	23%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Sedalia, MO	21,441	86	-14%
Albertville, AL	21,434	88	-12%
Arbutus, MD	21,455	110	10%
Portsmouth, NH	21,458	128	28%
Eastmont, WA	21,403	144	44%
Palm Valley, FL	21,441	123	23%

Source: The Palm Valley, FL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.

Palm Valley, FL Cost of Living