Panacea, Florida Cost Of Living

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B+

Overall 13%

Goods & Services 0%

Housing 40%

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	Panacea	Florida	National
Cost of living	87	99	100
Goods & Services	100	99	100
Groceries	110	105	100
Health care	102	100	100
Housing	60	96	100
Transportation	93	98	100
Utilities	86	102	100

Key findings

The cost of living in Panacea is 12% lower than the Florida average
The cost of living in Panacea is 13% lower than the national average
Panacea housing is 40% lower 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	$40,769	$3,397	$951	$1,223
Renters	$19,643	$1,637	$458	$589

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	Panacea	National avg.	Difference
Haircut	$16.00	$17.49	8.5%
Beauty Salon	$33.60	$38.17	12.0%
Toothpaste	$1.83	$2.32	21.2%
Shampoo	$0.89	$1.01	12.0%
Movie	$11.96	$10.72	11.5%
Bowling	$11.33	$13.86	18.3%

Groceries

Item	Panacea	National avg.	Difference
Ground Beef	$4.17	$3.90	6.9%
Fried Chicken	$1.51	$1.40	8.2%
Milk	$2.76	$1.96	40.7%
Potatoes	$4.02	$3.18	26.3%
Pizza	$11.49	$10.39	10.5%
Beer	$9.89	$9.23	7.2%

Health Care

Item	Panacea	National avg.	Difference
Optometrist	$74.80	$106.34	29.7%
Doctor	$131.45	$115.25	14.1%
Dentist	$97.20	$98.38	1.2%
Ibuprofen	$10.63	$9.26	14.8%
Lipitor	$463.70	$466.47	0.6%

Housing

Item	Panacea	National avg.	Difference
Home Price	$89,200.00	$184,700.00	51.7%
Avg. Mortgage Payment	$1,205.88	$1,273.32	5.3%
Apartment Rent	$835.00	$949.00	12.0%

Transportation

Item	Panacea	National avg.	Difference
Gasoline	$2.58	$2.59	0.6%
Tire Balancing	$42.16	$48.90	13.8%

Utilities

Item	Panacea	National avg.	Difference
All Electricity	$122.90	$167.60	26.7%
Phone	$185.91	$163.42	13.8%

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.
Sopchoppy, FL	422	85	-15%
St. Marks, FL	237	89	-11%
Crawfordville, FL	4,115	93	-7%
Panacea, FL	933	87	-13%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Mayville, MI	933	84	-16%
Adair Village, OR	933	116	16%
Rice, TX	933	90	-10%
McGraw, NY	933	85	-15%
Summitville, IN	933	78	-22%
Panacea, FL	933	87	-13%

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

Panacea, FL Cost of Living

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