Cost of Living in Gifford, FL

With a cost of living index of 82, Gifford, FL is a very affordable place to live. Living here is 18% cheaper than the national average and 28% below the Florida state average of 110. Gifford is a small community of 4,658 residents.

Housing costs are the biggest factor in Gifford's cost of living. The median monthly rent is $890 (33% below the US median of $1,319), and the median home value sits at $259,300 (15% below the national median of $304,900). At current prices, the median home costs roughly 9.3x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in Gifford is $27,765, which is 63% lower than the national median of $75,149. Residents spend roughly 38% of household income on rent. This exceeds the recommended 30% threshold, meaning many renters here are cost-burdened. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to Gifford. The area sees an average annual temperature of 73.6°F, with summers averaging 82°F and winters around 65°F. Annual rainfall totals 53.2 inches spread over roughly 125 days.

Everyday prices in the Sebastian-Vero Beach-West Vero Corridor, FL (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.