Myrtle Grove, FL

Below Avg · 78

Florida · Population 16,637 · Updated March 2026

$1,278
Median Rent / Month
$63,011
Median Income
$182,600
Median Home Value
$1,207
Owner Costs / Month

Affordability

How far your income goes in Myrtle Grove

24.3%
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

$15,336
Annual Rent
$0
State Income Tax
$1,570
Property Tax (est.)

Cost of Living Overview

Myrtle Grove is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 78 (where 100 equals the national median), Myrtle Grove residents can expect to pay median rent of $1,278/month while earning a median household income of $63,011/year.

The median home value in Myrtle Grove, FL is $182,600, with typical monthly owner costs around $1,207 including mortgage, insurance, and taxes. The median rent-to-income ratio of 24.3% 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 Myrtle Grove.

Frequently Asked Questions

Common questions about living costs in Myrtle Grove

What is the cost of living in Myrtle Grove, FL?
The cost of living index in Myrtle Grove, FL is 78 (US average = 100). Median monthly rent is $1,278, median household income is $63,011/year, and the median home value is $182,600.
Is Myrtle Grove, FL affordable?
Yes, Myrtle Grove is more affordable than the national average with a cost index of 78. The rent-to-income ratio is 24.3%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Myrtle Grove, FL?
The median gross rent in Myrtle Grove, FL is $1,278 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $15,336.
What is the median household income in Myrtle Grove?
The median household income in Myrtle Grove, FL is $63,011 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.