Midway, FL

Above Avg · 113

Florida · Population 20,745 · Updated March 2026

$1,668
Median Rent / Month
$90,662
Median Income
$352,600
Median Home Value
$1,526
Owner Costs / Month

Affordability

How far your income goes in Midway

22.1%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Florida

State-level tax rates that affect your costs

0%
Income Tax (Top Rate)
6.0%
Sales Tax
0.86%
Property Tax Rate

Estimated Annual Costs

$20,016
Annual Rent
$0
State Income Tax
$3,032
Property Tax (est.)

Cost of Living Overview

Midway is more expensive than the national average. Higher housing costs are typically the primary driver. With a cost index of 113 (where 100 equals the national median), Midway residents can expect to pay median rent of $1,668/month while earning a median household income of $90,662/year.

The median home value in Midway, FL is $352,600, with typical monthly owner costs around $1,526 including mortgage, insurance, and taxes. The median rent-to-income ratio of 22.1% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Florida has no state income tax, which can represent significant savings compared to high-tax states. Combined with a 6.0% sales tax rate and 0.86% effective property tax rate, the overall tax environment helps keep costs manageable in Midway.

Frequently Asked Questions

Common questions about living costs in Midway

What is the cost of living in Midway, FL?
The cost of living index in Midway, FL is 113 (US average = 100). Median monthly rent is $1,668, median household income is $90,662/year, and the median home value is $352,600.
Is Midway, FL affordable?
No, Midway is more expensive than the national average with a cost index of 113. The rent-to-income ratio is 22.1%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Midway, FL?
The median gross rent in Midway, FL is $1,668 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $20,016.
What is the median household income in Midway?
The median household income in Midway, FL is $90,662 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Florida?
Florida has a top income tax rate of 0%, a sales tax of 6.0%, and an effective property tax rate of 0.86%. Notably, there is no state income tax.