Cost of Living in Panacea, FL
Housing
The housing market plays a significant role in determining the cost of living in Panacea, FL.
- Housing Index: 85.0 / 100
- Median Home Price is: $351,000
- Average Rent (2 BR Apartment): $1600 per month
- Average Rent (2 BR House): $1645.6 per month
When evaluating your move to Panacea, FL, it's important to consider the statistics. The housing index of 85.0 indicates affordability is moderate compared to national averages. With a median home price of 351000, purchasing property is reasonable, especially for first-time buyers. For renting, the average of 1600 for a 2-bedroom apartment and 1645.6 for a house suggests a competitive rental market. Those relocating should assess their budget to ensure sustainable living conditions while enjoying potential lifestyle benefits Panacea has to offer, such as amenities, schools, and local attractions.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Panacea, FL.
- Electricity Price: $13.89 USD (median by state)
- Natural Gas Price: $26.13 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Panacea, FL could entail higher utility costs. Electricity costs sit at $13.89, while natural gas is priced at $26.13 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $250 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Panacea is a financially viable option for your relocation.