Cost of Living in Palm Coast Florida

Moving to a new city involves considering various factors, and one of the most important aspects to consider is the cost of living. In this article, we will explore the cost of living in Palm Coast, Florida, and compare it to both the state and national averages. By understanding the cost of living in Palm Coast, you can better plan your budget and make an informed decision about relocating to this beautiful city.

Palm Coast, Florida is a popular destination for individuals and families looking to enjoy a relaxed coastal lifestyle. Located in Flagler County, Palm Coast offers a range of amenities, including beautiful beaches, golf courses, parks, and nature preserves. The city is known for its low crime rates, excellent schools, and friendly community.

To determine the cost of living in Palm Coast, we refer to the Cost of Living Index published by the Council for Community and Economic Research. According to the most recent data from March 2024, the cost of living in Palm Coast, Florida is 12% lower than the state average and 13% lower than the national average. This significant difference can have a significant impact on your annual budget, especially if you're retiring or on a fixed income.

Housing is often the most significant expense for households, and in Palm Coast, it is 29% lower than the average in Florida and the national average. Whether you're renting or buying, you can expect to find more affordable options in Palm Coast compared to other areas. The average rent in Palm Coast is $1,791 per month, and the average home price is a little over $330,000.

When it comes to food costs, Palm Coast is 5% lower than the state average and 7% lower than the national average. The average cost of bread is a little over $3, steak is over $13, bananas are 78 cents per banana, milk is over $7, and eggs are about $4.30. It's important to note that these costs are averages, and prices may vary depending on where you shop. Shopping around and comparing prices can help you find the best deals.

In terms of healthcare costs, Palm Coast is 2% lower than the state average and 7% lower than the national average. This can be beneficial for individuals and families who require regular medical care or have ongoing healthcare expenses.

Transportation costs in Palm Coast are 14% lower than the state average and 13% lower than the national average. This includes expenses such as fuel, vehicle maintenance, and public transportation. The lower transportation costs can help you save money and reduce your overall expenses.

While many expenses in Palm Coast are lower than the state and national averages, utility costs are higher. Monthly utilities in Palm Coast are 19% higher than the state average and 17% higher than the national average. It's important to factor in these higher utility costs when budgeting for your monthly expenses in Palm Coast.

If comparing Palm Coast's cost of living to the state and national averages isn't enough for you, you can use the Forbes cost of living calculator to get a more personalized comparison. The calculator allows you to input the closest major city to your current location and compare it to Palm Coast. This can give you a better understanding of how the cost of living in Palm Coast compares to what you're used to. It's a helpful tool for creating a budget and preparing for your move.

In conclusion, the cost of living in Palm Coast, Florida is significantly lower than both the state and national averages. This can make a big difference in your annual budget, especially if you're retiring or on a fixed income. Housing costs in Palm Coast are 29% lower than the average, food costs are 5% lower, healthcare costs are 2% lower, transportation costs are 14% lower, and services are 8% lower. However, utility costs are higher in Palm Coast compared to the state and national averages.

By understanding the cost of living in Palm Coast, you can better plan your budget and make an informed decision about moving to this beautiful city. If you have any questions or need further information about the cost of living in Palm Coast or moving to the area, feel free to reach out to us. We're here to help you make a smooth transition to Palm Coast, Florida.

Want to know more? Watch this video on our YouTube, Palm Coast Florida Living.