Cost of Living in Waldo, FL

With a cost of living index of 69, Waldo, FL is one of the most affordable cities in the country. Living here is 31% cheaper than the national average and 42% below the Florida state average of 110. Waldo is a small community of 877 residents.

Housing costs are the biggest factor in Waldo's cost of living. The median monthly rent is $838 (36% below the US median of $1,319), and the median home value sits at $112,200 (63% below the national median of $304,900). At current prices, the median home costs roughly 4.2x the median household income — a moderately affordable ratio by today's standards.

The median household income in Waldo is $27,036, which is 64% 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. 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 Waldo. 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.

Everyday prices in the Gainesville, 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.