Parkland, FL

Very High · 254

Florida · Population 35,799 · Updated March 2026

$3,306
Median Rent / Month
$200,156
Median Income
$896,300
Median Home Value
$3,474
Owner Costs / Month

Affordability

How far your income goes in Parkland

19.8%
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

$39,672
Annual Rent
$0
State Income Tax
$7,708
Property Tax (est.)

Cost of Living Overview

Parkland has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 254 (where 100 equals the national median), Parkland residents can expect to pay median rent of $3,306/month while earning a median household income of $200,156/year.

The median home value in Parkland, FL is $896,300, with typical monthly owner costs around $3,474 including mortgage, insurance, and taxes. The median rent-to-income ratio of 19.8% 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 Parkland.

Frequently Asked Questions

Common questions about living costs in Parkland

What is the cost of living in Parkland, FL?
The cost of living index in Parkland, FL is 254 (US average = 100). Median monthly rent is $3,306, median household income is $200,156/year, and the median home value is $896,300.
Is Parkland, FL affordable?
No, Parkland is more expensive than the national average with a cost index of 254. The rent-to-income ratio is 19.8%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Parkland, FL?
The median gross rent in Parkland, FL is $3,306 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $39,672.
What is the median household income in Parkland?
The median household income in Parkland, FL is $200,156 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.