Palatka, FL

Very Low · 53

Florida · Population 10,558 · Updated March 2026

$914
Median Rent / Month
$33,628
Median Income
$112,300
Median Home Value
$814
Owner Costs / Month

Affordability

How far your income goes in Palatka

32.6%
Rent-to-Income Ratio
Moderate
Rent takes 25-35% of median income — moderate affordability.

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

$10,968
Annual Rent
$0
State Income Tax
$966
Property Tax (est.)

Cost of Living Overview

Palatka is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 53 (where 100 equals the national median), Palatka residents can expect to pay median rent of $914/month while earning a median household income of $33,628/year.

The median home value in Palatka, FL is $112,300, with typical monthly owner costs around $814 including mortgage, insurance, and taxes. At 32.6% rent-to-income ratio, residents of Palatka are spending more than the recommended 30% of income on housing, indicating moderate cost burden.

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 Palatka.

Frequently Asked Questions

Common questions about living costs in Palatka

What is the cost of living in Palatka, FL?
The cost of living index in Palatka, FL is 53 (US average = 100). Median monthly rent is $914, median household income is $33,628/year, and the median home value is $112,300.
Is Palatka, FL affordable?
Yes, Palatka is more affordable than the national average with a cost index of 53. The rent-to-income ratio is 32.6%—above the 30%% affordability threshold.
What is the average rent in Palatka, FL?
The median gross rent in Palatka, FL is $914 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $10,968.
What is the median household income in Palatka?
The median household income in Palatka, FL is $33,628 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.