Cost of Living in Ridgecrest, FL

With a cost of living index of 97, Ridgecrest, FL is slightly more affordable than average. Living here is 3% cheaper than the national average and 14% below the Florida state average of 110. Ridgecrest is a small community of 3,288 residents.

Housing costs are the biggest factor in Ridgecrest's cost of living. The median monthly rent is $1,186 (10% below the US median of $1,319), and the median home value sits at $301,700 (1% below the national median of $304,900). At current prices, the median home costs roughly 6x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Ridgecrest is $50,383, which is 33% lower than the national median of $75,149. Residents spend roughly 28% of household income on rent. This is near the 30% threshold that financial experts generally consider the upper limit of affordability.

Climate is another factor for anyone considering a move to Ridgecrest. The area sees an average annual temperature of 73.9°F, with summers averaging 83°F and winters around 63°F. Annual rainfall totals 53.6 inches spread over roughly 119 days.

Everyday prices in the Tampa-St. Petersburg-Clearwater, 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.