Carrabelle, FL vs Lake Park, FL

There is a significant gap in the cost of living between these two cities. Carrabelle is 23.2% cheaper than Lake Park. With a cost index of 85 vs 111, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Carrabelle to Lake Park should plan for substantially higher expenses across most categories.

On the housing front, median rent in Carrabelle is $1,231/month compared to $1,396/month in Lake Park — a 12% difference. Home values follow the same pattern: Carrabelle is more affordable at $149,600 median vs $361,700.

Median household income in Carrabelle is $57,143 compared to $69,274 in Lake Park (-17.5%). The higher salaries in Lake Park partially offset the cost difference, but don't fully close the gap. Looking at affordability, residents of Carrabelle spend roughly 25.9% of their income on rent, more than the 24.2% in Lake Park.