A+
1%
Overall NAT. AVG.
7%
Goods & Services NAT. AVG.
14%
Housing NAT. AVG.
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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 Medulla Florida National
Cost of living10198100
Goods & Services9398100
Groceries10099100
Health care9296100
Housing11496100
Transportation10099100
Utilities9997100

An Overview of Cost of Living in Medulla, FL

Getting a feel for the cost of living in Medulla is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Medulla is 101, which is 1% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

Everyday expenditures like food, housing, goods and services, transportation and health care in Medulla are priced in a manner consistent with other areas. This means that residents of Medulla can anticipate their daily expenses remaining reasonably similar to those in an average city, thereby supporting a manageable cost of living.

Is Medulla Affordable?

Is Medulla affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Medulla, for instance, where the median home price falls 14.3% higher than the national average, and monthly rent rates are 12.2% higher than usual. Additionally, median income levels contribute to the equation, with Medulla flaunting a median household income of $60,804, 9.9% higher than the national norm.

What Factors can Influence the Cost of Living in Medulla?

Subsidies: Some areas might offer government subsidies or assistance programs that help lower cost of living for residents. These programs can include anything from Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and crop subsidies. Areas that offer less subsidies, could see an increase in their cost of living.

Housing: A sought-after location with high housing demand often leads to increased property values and rental rates, which can significantly inflate the overall cost of living. Conversely, areas with low housing demand, particularly in less desirable locales, tend to experience the opposite effect, causing prices to drop and contributing to a more affordable cost of living. In Medulla, the housing index stands at 13.7% higher than the national average.

Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in Medulla comes in at 1.1% lower than the national average.

Where is the Data From?

The cost of living data in Medulla displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

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Cost Of Living Quick Facts

  • The cost of living in Medulla is 4% higher than the Florida average
  • The cost of living in Medulla is 1% higher than the national average
  • Medulla housing is 14% 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

Most Affordable Places to Live in and Around Medulla

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Compare Medulla, FL Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      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$80,716$6,726$1,883$2,422
      Renters$40,246$3,354$939$1,208
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Medulla, 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 Medulla, homeowners have a median income of $80,716. Using that number, a maximum of $1,883 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $40,246, which means there is a maximum of $939 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 Medulla National avg. Difference
      Haircut $15.67$24.2635.4%
      Beauty Salon $54.72$45.5620.1%
      Toothpaste $3.67$3.700.8%
      Shampoo $1.48$1.2815.3%
      Movie $8.61$12.1329.1%
      Bowling $19.67$18.009.3%

      Groceries

      Item Medulla National avg. Difference
      Ground Beef $6.06$5.843.8%
      Fried Chicken $1.48$1.575.7%
      Milk $4.56$4.672.3%
      Potatoes $5.34$4.938.1%
      Pizza $8.38$12.0930.6%
      Beer $10.69$10.412.6%

      Health Care

      Item Medulla National avg. Difference
      Optometrist $146.67$125.6816.7%
      Doctor $122.32$135.789.9%
      Dentist $103.33$113.298.8%
      Ibuprofen $10.74$10.650.8%
      Lipitor $523.90$468.6011.8%

      Housing

      Item Medulla National avg. Difference
      Home Price $211,200.00$184,700.0014.3%
      Avg. Mortgage Payment $1,846.50$2,346.6921.3%
      Apartment Rent $1,065.00$949.0012.2%

      Transportation

      Item Medulla National avg. Difference
      Gasoline $3.42$3.461.0%
      Tire Balancing $57.28$59.924.4%

      Utilities

      Item Medulla National avg. Difference
      All Electricity $219.66$193.9913.2%
      Phone $194.37$192.251.1%
      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, FL4,7807920.5%
      Bradley Junction, FL7028217.9%
      Mulberry, FL4,1348217.8%
      Inwood, FL7,1968614.4%
      Fort Meade, FL6,1638514.8%
      Medulla, FL11,3361011.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Mendota Heights, MN11,33912221.8%
      Diamond Springs, CA11,33212929.5%
      Fort Meade, MD11,34014141.0%
      Fredericksburg, TX11,34111211.6%
      Haddonfield, NJ11,34214645.9%
      Medulla, FL11,3361011.4%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.