Cost of Living in Lake Wales, FL
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
98.7
100 = national avg
-1.3 vs national average
Living Wage (1 Adult)
$43,442
per year
Living Wage (Family of 4)
$102,682
per year
Cost Index by Category
Housing114.3
Food92.6
Transportation85.3
Healthcare94.1
Utilities98.4
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,230
per month
2 Bedroom
$1,497
per month
The overall cost of living index in Lake Wales is 98.7, which is 1.3% below the national average. Housing costs are above the national average at an index of 114.3. A single adult needs to earn approximately $43,442 per year to cover basic expenses.