Cost of Living: Covington, TN vs Panacea, FL
Housing
The housing market plays a significant role in determining the cost of living.
| Metric | Covington | Panacea |
|---|---|---|
| Housing Index | 85.0 | 85.0 |
| Median Home Price | $205,000 | $351,000 |
| Average Rent (2 BR Apartment) | $1200 | $1600 |
| Average Rent (2 BR House) | $1000 | $1645.6 |
Housing Comparison: Covington vs Panacea
- The median home price in Panacea is higher at $351,000, compared to $205,000 in Covington.
- In Panacea, the rental for a two-bedroom apartment stands at $1,600, while it is $1,200 in Covington.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living.
| Metric | Covington | Panacea |
|---|---|---|
| Electricity Price | $12.57 | $13.89 |
| Natural Gas Price | $12.35 | $26.13 |
| Other Utilities | $200 | $250 |
Utilities Comparison: Covington vs Panacea
- Panacea has higher electricity costs at $13.89 per kWh, versus $12.57 in Covington.
- Panacea experiences higher natural gas costs at $26.13 per unit, with costs at $12.35 in Covington.
- Panacea has higher utility expenses, averaging $250, while Covington averages $200.