Cost of Living in Inwood, FL
Population 7,098 · Florida · Data vintage 2023
(100 = US avg)
At $38,786, median household incomes in Inwood land roughly 48% below the US median, a gap that tends to persist across local labor-market indicators. A poverty rate near 25% adds context to the income figures — well above the US average, and worth factoring into any comparison with cities on the coasts or in the Rockies.
Geographically, Inwood sits roughly 11 miles east of Lakeland. Median home values run roughly 50% lower than Lakeland's $229,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Inwood
The median home value in Inwood is $115,200 — 62% below the national median of $305,000. Median rent runs $1,112/month, 15% lower than the national median of $1,314/month. The median household income of $38,786/year is 48% lower than the US median of $74,580. The local unemployment rate is 6.6%, above the national average of 4.8%. Florida charges no state income tax, a meaningful advantage for take-home pay. The climate averages highs of 84.2°F and lows of 64.9°F. Overall, Inwood has a cost of living index of 57 versus the US average of 100, meaning it is 43% less expensive.
Inwood 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
🌤 Climate
NOAA 1991–2020 Climate Normals
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High °F | 73 | 76 | 80 | 85 | 90 | 92 | 93 | 93 | 91 | 86 | 80 | 74 |
| Low °F | 52 | 55 | 59 | 63 | 69 | 74 | 75 | 76 | 74 | 68 | 60 | 55 |
| Precip" | 2.49 | 2.44 | 3.04 | 2.50 | 2.67 | 7.36 | 7.44 | 6.52 | 5.31 | 2.22 | 1.45 | 2.68 |
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
Frequently Asked Questions
What is the cost of living in Inwood, FL?
Inwood has a cost index of 57 (100 = national average). It is 43% below the national average.
What is average rent in Inwood, FL?
The median gross rent in Inwood is $1,112 per month based on 2023 Census data.
What is the average home price in Inwood?
The median home value in Inwood is $115,200 according to Zillow and Census data.
What is the median income in Inwood?
The median household income in Inwood is $38,786 per year (2023 ACS 5-year estimates).
What is the sales tax in Inwood, FL?
The combined state and local sales tax rate in Inwood is 7.0%. Florida has no state income tax.
Is Inwood, FL affordable?
Yes, Inwood is generally considered affordable, with a cost of living index of 57 — about 43% below the US national average of 100.
What is the weather like in Inwood?
Inwood has average high temperatures of 84.2°F and average lows of 64.9°F. Annual precipitation is 46.1". Data from NOAA 1991–2020 Climate Normals.
Inwood at a Glance
- Population
- 7,098
- Median Income
- $38,786
- Home Value
- $115,200
- Median Rent
- $1,112/mo
- Unemployment
- 6.6%
- Avg High Temp
- 84.2°F
- Sales Tax
- 7.0%
Nearby Cities
Explore county-level cost of living data
Florida Rankings
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