Cost of Living in Palatka, FL

With a cost of living index of 73, Palatka, FL is one of the most affordable cities in the country. Living here is 27% cheaper than the national average and 37% below the Florida state average of 110. Palatka is a smaller community of 10,558 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Palatka's cost of living. The median monthly rent is $914 (31% below the US median of $1,319), and the median home value sits at $112,300 (63% below the national median of $304,900). At current prices, the median home costs roughly 3.3x the median household income — a moderately affordable ratio by today's standards.

The median household income in Palatka is $33,628, which is 55% lower than the national median of $75,149. Residents spend roughly 33% 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 Palatka. The area sees an average annual temperature of 69.3°F, with summers averaging 81°F and winters around 57°F. Annual rainfall totals 48.3 inches spread over roughly 114 days. The mild climate is a draw for many residents and keeps utility costs moderate year-round.

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.