Cost of Living in Lake Panasoffkee, FL
Population 4,525 · Florida · Data vintage 2023
(100 = US avg)
Household incomes in Lake Panasoffkee run well below national norms — a median of $46,002 versus the $74,580 US figure. Housing costs partially offset that gap (typical home values around $133,000). A poverty rate near 26% 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.
Located 30 miles northeast of Spring Hill, Lake Panasoffkee falls within that metro's commuting orbit. Median home values run roughly 46% lower than Spring Hill's $248,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Lake Panasoffkee
The median home value in Lake Panasoffkee is $133,300 — 56% below the national median of $305,000. Median rent runs $962/month, 27% lower than the national median of $1,314/month. The median household income of $46,002/year is 38% lower than the US median of $74,580. The local unemployment rate is 5.4%, above the national average of 4.8%. Florida charges no state income tax, a meaningful advantage for take-home pay. Overall, Lake Panasoffkee has a cost of living index of 56 versus the US average of 100, meaning it is 44% less expensive.
Lake Panasoffkee 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
Frequently Asked Questions
What is the cost of living in Lake Panasoffkee, FL?
Lake Panasoffkee has a cost index of 56 (100 = national average). It is 44% below the national average.
What is average rent in Lake Panasoffkee, FL?
The median gross rent in Lake Panasoffkee is $962 per month based on 2023 Census data.
What is the average home price in Lake Panasoffkee?
The median home value in Lake Panasoffkee is $133,300 according to Zillow and Census data.
What is the median income in Lake Panasoffkee?
The median household income in Lake Panasoffkee is $46,002 per year (2023 ACS 5-year estimates).
What is the sales tax in Lake Panasoffkee, FL?
The combined state and local sales tax rate in Lake Panasoffkee is 7.0%. Florida has no state income tax.
Is Lake Panasoffkee, FL affordable?
Yes, Lake Panasoffkee is generally considered affordable, with a cost of living index of 56 — about 44% below the US national average of 100.
Lake Panasoffkee at a Glance
- Population
- 4,525
- Median Income
- $46,002
- Home Value
- $133,300
- Median Rent
- $962/mo
- Unemployment
- 5.4%
- Sales Tax
- 7.0%
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