Inverness, FL Cost Of Living
Cost Of Living In Inverness, FL Summary
Cost of living in Inverness research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Inverness is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Florida, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Inverness is 95, with 100 being the average.
The cost of living index in Inverness is 0.9x lower than the national average.
Inverness ranks as the #164 cheapest in Florida out of 459.
Inverness ranks as the #2,449 cheapest out of 6,412 in the US.
The median home value in Inverness is $120,100.
The median income in Inverness is $39,532.
Table Of Contents
Inverness's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Inverness, FL?
According to the most recent data on the cost of living, Inverness has an overall cost of living index of 95, which is 0.9x lower than the national index of 100.
Compared to Florida, Inverness has a cost of living index that's 0.9x lower than Florida's index of 101.
The standard of living in Inverness ranks as #164 most affordable out of the 459 places we measured in Florida. By definition, that implies Inverness ranks as the #295 most expensive place in the Sunshine State.
For more reading on life in Inverness, check out:
- Living In Inverness
- Search Homes For Sale In Inverness, FL
In Florida
In America
Inverness Cost Of Living Vs. Florida
Six factors go into calculating the cost of living index in Inverness. Here is how it fairs on each of the criteria:
The Services index in Inverness is 96.
The Groceries index in Inverness is 117.
The Health index in Inverness is 87.
The Housing index in Inverness is 59.
The Transportation index in Inverness is 97.
The Utilities index in Inverness is 159.
| Living Expense | Inverness | Florida | National Average | |
|---|---|---|---|---|
| Overall | 95 | 101 | 100 | |
| Services | 96 | 98 | 100 | |
| Groceries | 117 | 101 | 100 | |
| Health | 87 | 96 | 100 | |
| Housing | 59 | 108 | 100 | |
| Transportation | 97 | 98 | 100 | |
| Utilities | 159 | 100 | 100 | |
Inverness, FL Housing Cost Breakdown
Housing swings affordability the most between places in Florida, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Inverness is $120,100.
The Median Rent in Inverness is $842.
The Median Income in Inverness is $39,532.
The Home Value To Income in Inverness is 3.0x.
The Rent To Monthly Income in Inverness is 0.26x.
| Statistic | Inverness | Florida | United States |
|---|---|---|---|
| Median Home Value | $120,100 | $248,700 | $244,900 |
| Median Rent | $842 | $1,301 | $1,163 |
| Median Income | $39,532 | $61,777 | $69,021 |
| Home Value To Income | 3.0x | 4.0x | 3.5x |
| Rent To Monthly Income | 0.26x | 0.25x | 0.2x |
Median Home Value
Median Rent
Median Income
Inverness, FL Costs By Category
Detailed Inverness Services Costs Vs. Florida
Detailed Inverness Groceries Costs Vs. Florida
Detailed Inverness Health Costs Vs. Florida
Detailed Inverness Transportation Costs Vs. Florida
Detailed Inverness Utilities Costs Vs. Florida
Inverness SnackAbility
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Cost Of Living In Cities Around Inverness
The cost of living varies in the cities and towns around Inverness. Here's a quick look at the cost of living in the most populous nearby places:
Spring Hill, FL has a cost of living index of 93, 1.0x Inverness.
The Villages, FL has a cost of living index of 108, 1.1x Inverness.
Wesley Chapel, FL has a cost of living index of 103, 1.1x Inverness.
| City | Population | Cost Of Living | Vs. Inverness |
|---|---|---|---|
| Spring Hill, FL | 114,706 | 93 | 1.0x |
| The Villages, FL | 76,415 | 108 | 1.1x |
| Wesley Chapel, FL | 65,134 | 103 | 1.1x |
| Winter Garden, FL | 45,978 | 103 | 1.1x |
| Land O' Lakes, FL | 38,674 | 104 | 1.1x |
| Lutz, FL | 23,827 | 104 | 1.1x |
| Tavares, FL | 18,290 | 88 | 0.9x |
| Trinity, FL | 18,191 | 116 | 1.2x |
| Lady Lake, FL | 15,683 | 92 | 1.0x |
| Cheval, FL | 12,839 | 111 | 1.2x |
