Cost of Living in Penney Farms, FL

With a cost of living index of 110, Penney Farms, FL is somewhat more expensive than average. Living here is 10% more expensive than the national average and in line with the Florida state average. Penney Farms is a small community of 573 residents.

Housing costs are the biggest factor in Penney Farms's cost of living. The median monthly rent is $1,893 (44% above the US median of $1,319), and the median home value sits at $213,300 (30% below the national median of $304,900). At current prices, the median home costs roughly 3.5x the median household income — a moderately affordable ratio by today's standards.

The median household income in Penney Farms is $60,625, which is 19% lower than the national median of $75,149. Residents spend roughly 37% of household income on rent. This exceeds the recommended 30% threshold, meaning many renters here are cost-burdened.

Climate is another factor for anyone considering a move to Penney Farms. The area sees an average annual temperature of 71.4°F, with summers averaging 83°F and winters around 58°F. Annual rainfall totals 47.6 inches spread over roughly 120 days.

Everyday prices in the Jacksonville, 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.