What is the cost of living in Lake Wales, FL?
According to the most recent data on the cost of living, Lake Wales has an overall cost of living index of 102, which is 1.0x higher than the national index of 100.
Compared to Florida, Lake Wales has a cost of living index that's 1.0x lower than Florida's index of 104.
The standard of living in Lake Wales ranks as #116 most affordable out of the 462 places we measured in Florida. By definition, that implies Lake Wales ranks as the #346 most expensive place in the Sunshine State.
For more reading on life in Lake Wales, check out:
Lake Wales Cost Of Living Vs. Florida
Six factors go into calculating the cost of living index in Lake Wales. Here is how it fares on each of the criteria:
The Services index in Lake Wales is 102.
The Groceries index in Lake Wales is 100.
The Health index in Lake Wales is 94.
The Housing index in Lake Wales is 103.
The Transportation index in Lake Wales is 108.
The Utilities index in Lake Wales is 100.
| Living Expense | Lake Wales | Florida | National Average |
|---|---|---|---|
| Overall | 102 | 104 | 100 |
| Services | 102 | 101 | 100 |
| Groceries | 100 | 105 | 100 |
| Health | 94 | 99 | 100 |
| Housing | 103 | 104 | 100 |
| Transportation | 108 | 109 | 100 |
| Utilities | 100 | 105 | 100 |
Lake Wales Cost Of Living Compared To Florida Averages
Index where 100 = national average. Source: cost-of-living index 2026.
For more reading on cost of living around Florida, check out:
Protect your home budget Compare home warranties in Lake Wales Get matched →Source: Cost-of-living index 2026, normalized to US average = 100
Lake Wales, FL Housing Cost Breakdown
Housing swings affordability the most between places in Florida, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2020-2024. The key points are:
The Median Home Value in Lake Wales is $246,149.
The Median Rent in Lake Wales is $1,110.
The Median Income in Lake Wales is $56,347.
The Home Value To Income in Lake Wales is 4.4x.
The Rent To Monthly Income in Lake Wales is 0.24x.
| Statistic | Lake Wales | Florida | United States |
|---|---|---|---|
| Median Home Value | $246,149 | $375,661 | $332,700 |
| Median Rent | $1,110 | $1,669 | $1,413 |
| Median Income | $56,347 | $74,568 | $80,734 |
| Home Value To Income | 4.4x | 5.0x | 4.1x |
| Rent To Monthly Income | 0.24x | 0.27x | 0.21x |
Lake Wales, FL Costs By Category
Detailed Lake Wales Services costs vs. Florida
| Item | Lake Wales | Florida |
|---|---|---|
| Shampoo | $1.48 | $1.28 |
| Movie | $13.54 | $12.13 |
| Bowling | $19.87 | $18 |
| Haircut | $26.53 | $24.26 |
| Beauty Salon | $55.13 | $45.56 |
Detailed Lake Wales Groceries costs vs. Florida
| Item | Lake Wales | Florida |
|---|---|---|
| Ground Beef | $6.26 | $5.84 |
| Fried Chicken | $1.4 | $1.57 |
| Milk | $4.58 | $4.67 |
| Potatoes | $5.23 | $4.93 |
| Pizza | $13.13 | $12.09 |
| Beer | $11.07 | $10.41 |
| Toothpaste | $3.84 | $3.7 |
Detailed Lake Wales Health costs vs. Florida
| Item | Lake Wales | Florida |
|---|---|---|
| Optometrist | $118.44 | $125.68 |
| Doctor | $137.0 | $135.78 |
| Dentist | $125.36 | $113.29 |
Detailed Lake Wales Transportation costs vs. Florida
| Item | Lake Wales | Florida |
|---|---|---|
| Gasoline | $3.39 | $3.46 |
| Tire Balancing | $57.07 | $59.92 |
Detailed Lake Wales Utilities costs vs. Florida
| Item | Lake Wales | Florida |
|---|---|---|
| All Electricity | $190.71 | $193.99 |
| Phone | $194.67 | $192.25 |
Lake Wales SnackAbility
Cost Of Living In Cities Around Lake Wales
The cost of living varies in the cities and towns around Lake Wales. Here's a quick look at the cost of living in the most populous nearby places:
Poinciana, FL has a cost of living index of 109, 1.1x Lake Wales.
Winter Haven, FL has a cost of living index of 99, 1.0x Lake Wales.
Bartow, FL has a cost of living index of 97, 1.0x Lake Wales.
| City | Population | Cost Of Living | Vs. Lake Wales |
|---|---|---|---|
| Poinciana, FL | 75,068 | 109 | 1.1x |
| Winter Haven, FL | 55,200 | 99 | 1.0x |
| Bartow, FL | 20,438 | 97 | 1.0x |
| Auburndale, FL | 18,530 | 103 | 1.0x |
| Highland, IL | 10,262 | 96 | 0.9x |
| Cypress Gardens, FL | 10,077 | 107 | 1.0x |
| Dundee, FL | 5,863 | 99 | 1.0x |
