Cost of Living in Ocala

Ocala is almost always at or near the top of the list of the most affordable places to live in Florida, and you're about to see why.

As most retirees are looking for ways to stretch their nest egg and not have to worry about out of control costs eating away at their hard-earned savings, it makes total sense that Ocala is as popular as it is for retirement.

Ocala is of course located very close to The Villages, and I have an in-depth article on the cost of living in The Villages if you have not already seen it.

Let's take a closer look at what makes Ocala so affordable.

Home Prices

One of the first things you'll probably do just before you move to Florida is to buy a house, so home price is a huge determining factor of whether you can afford to live someplace.

According to data from FloridaRealtors.org, the average sales price for a home in Florida in 2023 was $527,324. That was up from $513,131 in 2022.

You might be shocked just how far below the state average home prices are in Ocala.

How about nearly $200k below?

The average price in 2022 was $329,141 and in 2023 it was $334,291.

Ocala is one of the few places in Florida where you can still find starting new home prices in the $200k's.

Property Taxes

The next big expense you'll have while living the Florida retirement dream will be your property taxes.

Marion County has a property tax rate of just above 15 mils per thousand.

I go over the entire Florida property tax formula in my book, but to keep things simple here, this means that for every $1,000 of assessed value, you'll be paying about $15.

So let's say your home is assessed for $300,000 the math would be 300 x $15 = $4,500 per year, or about $375 a month.

If you are planning to live here full-time or at least long enough to claim residency, you should know that Florida has some pretty generous homestead exemptions that can reduce your property taxes and keep yearly increases in check.

Again, that's a topic for another day, but you can read more about it in The Florida Retirement Handbook.

Other Costs

The website BestPlaces.net is one of my favorite go-to resources for in-depth data about various cities, and they've looked at the overall cost of living in Ocala to include other costs like healthcare, groceries, transportation, utilities, and other necessities.

They found that overall Ocala is about 15% less expensive than the state average cost of living, and about 13% less than the national average cost of living.

The BestPlaces calculations take into account property insurance, but you should also know that Ocala is one of the best places in Florida to avoid hurricane damage, so that helps a lot in the homeowner's insurance department.

It would be hard for you to find too many other parts of Florida with a similar or lower cost of living, that you'd actually want to retire in.

Where to Retire in Ocala

If Ocala is now on your list of places to check out, you should start with On Top of the World.

At On Top of the World Communities, active adults will find all they dream about and so much more. Located in beautiful Ocala Florida, On Top of the World residents can enjoy any schedule that suits their tastes – from activity packed to unhurried.

Leisure amenities include 54 holes of golf on three courses, indoor and outdoor swimming pools, pickleball and tennis courts, a private R/C flying field, bocce, racquetball and basketball courts, fitness center, health club and spa, restaurants, cultural venues, and much more.

Residents can also participate in over 175 clubs, leagues, hobbies, and lifelong learning opportunities.

New homes are of quality construction, often exceeding ENERGY STAR criteria while offering comfort, convenience, and a wide variety of design elements.

There are 23 floor plans available with prices ranging to suit every budget starting from the $200k's.

You can request more information from the developer right here: