Westwood Lakes, FL

Very High · 143

Florida · Population 10,768 · Updated March 2026

$2,243
Median Rent / Month
$87,341
Median Income
$465,000
Median Home Value
$1,577
Owner Costs / Month

Affordability

How far your income goes in Westwood Lakes

30.8%
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

$26,916
Annual Rent
$0
State Income Tax
$3,999
Property Tax (est.)

Cost of Living Overview

Westwood Lakes has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 143 (where 100 equals the national median), Westwood Lakes residents can expect to pay median rent of $2,243/month while earning a median household income of $87,341/year.

The median home value in Westwood Lakes, FL is $465,000, with typical monthly owner costs around $1,577 including mortgage, insurance, and taxes. At 30.8% rent-to-income ratio, residents of Westwood Lakes 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 Westwood Lakes.

Frequently Asked Questions

Common questions about living costs in Westwood Lakes

What is the cost of living in Westwood Lakes, FL?
The cost of living index in Westwood Lakes, FL is 143 (US average = 100). Median monthly rent is $2,243, median household income is $87,341/year, and the median home value is $465,000.
Is Westwood Lakes, FL affordable?
No, Westwood Lakes is more expensive than the national average with a cost index of 143. The rent-to-income ratio is 30.8%—above the 30%% affordability threshold.
What is the average rent in Westwood Lakes, FL?
The median gross rent in Westwood Lakes, FL is $2,243 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $26,916.
What is the median household income in Westwood Lakes?
The median household income in Westwood Lakes, FL is $87,341 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.