Cost of Living in Inverness, FL
Population 7,672 · Florida · Data vintage 2023
(100 = US avg)
The median resident in Inverness is 56 years old, well past the national midpoint, giving the city the retail and service mix of a retirement-dominant market. Household-income figures here read differently than in working-age cities: retirement and investment income weigh heavily in the totals. At 6.1%, the local unemployment rate runs well above the US figure, pointing to structural rather than cyclical labor-market issues.
Geographically, Inverness is about 30 miles northeast of Spring Hill, the nearest large metro. Median home values run roughly 32% lower than Spring Hill's $248,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Inverness
The median home value in Inverness is $168,100 — 45% below the national median of $305,000. Median rent runs $982/month, 25% lower than the national median of $1,314/month. The median household income of $44,899/year is 40% lower than the US median of $74,580. The local unemployment rate is 6.1%, above the national average of 4.8%. Florida charges no state income tax, a meaningful advantage for take-home pay. Overall, Inverness has a cost of living index of 63 versus the US average of 100, meaning it is 37% less expensive.
Inverness has limited residential data
Detailed housing and income data is limited for this location. Here are the nearest cities with full cost of living data:
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
🏫 Schools
NCES CCD 2019 — public school district data
Frequently Asked Questions
What is the cost of living in Inverness, FL?
Inverness has a cost index of 63 (100 = national average). It is 37% below the national average.
What is average rent in Inverness, FL?
The median gross rent in Inverness is $982 per month based on 2023 Census data.
What is the average home price in Inverness?
The median home value in Inverness is $168,100 according to Zillow and Census data.
What is the median income in Inverness?
The median household income in Inverness is $44,899 per year (2023 ACS 5-year estimates).
What is the sales tax in Inverness, FL?
The combined state and local sales tax rate in Inverness is 7.0%. Florida has no state income tax.
Is Inverness, FL affordable?
Yes, Inverness is generally considered affordable, with a cost of living index of 63 — about 37% below the US national average of 100.
Inverness at a Glance
- Population
- 7,672
- Median Income
- $44,899
- Home Value
- $168,100
- Median Rent
- $982/mo
- Unemployment
- 6.1%
- Sales Tax
- 7.0%
Nearby Cities
Explore county-level cost of living data
Florida Rankings
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