Silver Springs Shores, FL

Very Low · 74

Florida · Population 27,556 · Updated March 2026

$1,231
Median Rent / Month
$60,543
Median Income
$181,800
Median Home Value
$1,067
Owner Costs / Month

Affordability

How far your income goes in Silver Springs Shores

24.4%
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

$14,772
Annual Rent
$0
State Income Tax
$1,563
Property Tax (est.)

Cost of Living Overview

Silver Springs Shores is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 74 (where 100 equals the national median), Silver Springs Shores residents can expect to pay median rent of $1,231/month while earning a median household income of $60,543/year.

The median home value in Silver Springs Shores, FL is $181,800, with typical monthly owner costs around $1,067 including mortgage, insurance, and taxes. The median rent-to-income ratio of 24.4% 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 Silver Springs Shores.

Frequently Asked Questions

Common questions about living costs in Silver Springs Shores

What is the cost of living in Silver Springs Shores, FL?
The cost of living index in Silver Springs Shores, FL is 74 (US average = 100). Median monthly rent is $1,231, median household income is $60,543/year, and the median home value is $181,800.
Is Silver Springs Shores, FL affordable?
Yes, Silver Springs Shores is more affordable than the national average with a cost index of 74. The rent-to-income ratio is 24.4%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Silver Springs Shores, FL?
The median gross rent in Silver Springs Shores, FL is $1,231 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $14,772.
What is the median household income in Silver Springs Shores?
The median household income in Silver Springs Shores, FL is $60,543 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.