Cost of Living in Oakland, FL

With a cost of living index of 145, Oakland, FL is one of the most expensive cities in the United States. Living here is 45% more expensive than the national average and 34% above the Florida state average of 110. Oakland is a small community of 3,566 residents.

Housing costs are the biggest factor in Oakland's cost of living. The median monthly rent is $2,279 (73% above the US median of $1,319), and the median home value sits at $487,900 (60% above the national median of $304,900). At current prices, the median home costs roughly 3.4x the median household income — a moderately affordable ratio by today's standards.

The median household income in Oakland is $142,917, which is 90% higher than the national median of $75,149. Residents spend roughly 19% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. While incomes are above average, they more than offset the higher cost of living.

Climate is another factor for anyone considering a move to Oakland. The area sees an average annual temperature of 73.8°F, with summers averaging 83°F and winters around 63°F. Annual rainfall totals 51.5 inches spread over roughly 130 days.

Everyday prices in the Orlando-Kissimmee-Sanford, 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.