Cost Of Living in Panacea, FL

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19%

Overall NAT. AVG.

4%

Goods & Services NAT. AVG.

52%

Housing NAT. AVG.

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; 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	81	98	100
Goods & Services	97	98	100
Groceries	96	99	100
Health care	106	96	100
Housing	48	96	100
Transportation	97	99	100
Utilities	85	97	100

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Cost Of Living Quick Facts

The cost of living in Panacea is 17% lower than the Florida average
The cost of living in Panacea is 19% lower than the national average
Panacea housing is 52% 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	$27,083	$2,257	$632	$813
Renters	$0	$0	$0	$0

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	$23.64	$24.26	2.5%
Beauty Salon	$35.60	$45.56	21.9%
Toothpaste	$3.74	$3.70	1.1%
Shampoo	$1.42	$1.28	11.1%
Movie	$12.02	$12.13	1.0%
Bowling	$16.50	$18.00	8.3%

Groceries

Item	Panacea	National avg.	Difference
Ground Beef	$5.87	$5.84	0.6%
Fried Chicken	$1.40	$1.57	11.0%
Milk	$4.56	$4.67	2.5%
Potatoes	$5.27	$4.93	6.8%
Pizza	$12.97	$12.09	7.3%
Beer	$11.26	$10.41	8.2%

Health Care

Item	Panacea	National avg.	Difference
Optometrist	$116.93	$125.68	7.0%
Doctor	$122.60	$135.78	9.7%
Dentist	$111.70	$113.29	1.4%
Ibuprofen	$10.73	$10.65	0.8%
Lipitor	$367.50	$468.60	21.6%

Housing

Item	Panacea	National avg.	Difference
Home Price	$88,100.00	$184,700.00	52.3%
Avg. Mortgage Payment	$2,152.45	$2,346.69	8.3%
Apartment Rent	$0.00	$949.00	100.0%

Transportation

Item	Panacea	National avg.	Difference
Gasoline	$3.37	$3.46	2.6%
Tire Balancing	$64.50	$59.92	7.6%

Utilities

Item	Panacea	National avg.	Difference
All Electricity	$189.14	$193.99	2.5%
Phone	$193.94	$192.25	0.9%

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	Population	Cost of Living Index	National Avg.
Sopchoppy, FL	483	90	10.0%
Crawfordville, FL	4,113	96	4.2%
St. Marks, FL	340	110	10.4%
Panacea, FL	744	81	18.9%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Clayhatchee, AL	744	85	14.8%
Potomac, IL	744	83	17.3%
New Harmony, IN	744	91	8.6%
Parkdale, MI	744	85	15.3%
Cedar Bluffs, NE	744	89	11.3%
Panacea, FL	744	81	18.9%