Cost Of Living in Inwood, FL

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	Inwood	Florida	National
Cost of living	86	98	100
Goods & Services	101	98	100
Groceries	98	99	100
Health care	92	96	100
Housing	58	96	100
Transportation	95	99	100
Utilities	90	97	100

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Cost Of Living Quick Facts

The cost of living in Inwood is 12% lower than the Florida average
The cost of living in Inwood is 14% lower than the national average
Inwood housing is 42% 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	$29,795	$2,483	$695	$894
Renters	$29,297	$2,441	$684	$879

The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Inwood, FL, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Inwood, homeowners have a median income of $29,795. Using that number, a maximum of $695 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $29,297, which means there is a maximum of $684 to be spent on the costs of renting a home or apartment.

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	Inwood	National avg.	Difference
Haircut	$26.53	$24.26	9.4%
Beauty Salon	$55.13	$45.56	21.0%
Toothpaste	$3.84	$3.70	3.8%
Shampoo	$1.48	$1.28	15.8%
Movie	$13.54	$12.13	11.6%
Bowling	$19.87	$18.00	10.4%

Groceries

Item	Inwood	National avg.	Difference
Ground Beef	$6.26	$5.84	7.1%
Fried Chicken	$1.40	$1.57	11.0%
Milk	$4.58	$4.67	1.9%
Potatoes	$5.23	$4.93	6.0%
Pizza	$13.13	$12.09	8.6%
Beer	$11.07	$10.41	6.3%

Health Care

Item	Inwood	National avg.	Difference
Optometrist	$118.44	$125.68	5.8%
Doctor	$137.00	$135.78	0.9%
Dentist	$125.36	$113.29	10.7%
Ibuprofen	$10.89	$10.65	2.2%
Lipitor	$446.86	$468.60	4.6%

Housing

Item	Inwood	National avg.	Difference
Home Price	$87,100.00	$184,700.00	52.8%
Avg. Mortgage Payment	$2,463.53	$2,346.69	5.0%
Apartment Rent	$791.00	$949.00	16.6%

Transportation

Item	Inwood	National avg.	Difference
Gasoline	$3.39	$3.46	2.1%
Tire Balancing	$57.07	$59.92	4.8%

Utilities

Item	Inwood	National avg.	Difference
All Electricity	$190.71	$193.99	1.7%
Phone	$194.67	$192.25	1.3%

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.
Fussels Corner, FL	4,780	79	20.5%
Wahneta, FL	3,988	82	18.1%
Mulberry, FL	4,134	82	17.8%
Crooked Lake Park, FL	1,591	87	13.4%
Combee Settlement, FL	6,173	87	13.1%
Inwood, FL	7,196	86	14.4%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
North Stormont, ON	7,196	n/a
Farr West, UT	7,197	115	15.3%
Wollochet, WA	7,193	163	63.4%
Fort Pierce North, FL	7,199	87	13.4%
Batesville, MS	7,200	91	9.1%
Inwood, FL	7,196	86	14.4%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

Cost of Living in Inwood, FL