Cost of Living in Shalimar, FL

With a cost of living index of 138, Shalimar, FL is a notably expensive place to live. Living here is 38% more expensive than the national average and 28% above the Florida state average of 110. Shalimar is a small community of 839 residents.

Housing costs are the biggest factor in Shalimar's cost of living. The median monthly rent is $2,162 (64% above the US median of $1,319), and the median home value sits at $463,900 (52% above the national median of $304,900). At current prices, the median home costs roughly 4.3x the median household income — a moderately affordable ratio by today's standards.

The median household income in Shalimar is $108,182, which is 44% higher than the national median of $75,149. Residents spend roughly 24% 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 Shalimar. The area sees an average annual temperature of 69.8°F, with summers averaging 83°F and winters around 56°F. Annual rainfall totals 55.4 inches spread over roughly 110 days. The mild climate is a draw for many residents and keeps utility costs moderate year-round.

Everyday prices in the Crestview-Fort Walton Beach-Destin, 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.