F
31%
Overall NAT. AVG.
5%
Goods & Services NAT. AVG.
95%
Housing NAT. AVG.
Search Homes for Sale
Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Aventura Florida National
Cost of living13198100
Goods & Services10598100
Groceries10499100
Health care9396100
Housing19596100
Transportation10199100
Utilities10397100

An Overview of Cost of Living in Aventura, FL

Getting a feel for the cost of living in Aventura is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Aventura is 131, which is 31% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

If you're in pursuit of an economical living environment, Aventura may not fit the bill, as it ranks among the most expensive places to reside in the United States. Just a minority of regions exhibit a cost of living that is more than 20% higher than the national average, and, unfortunately, Aventura falls within this bracket.

Housing costs make up a big chunk of the cost of living in Aventura, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 94.6% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.

Is Aventura Affordable?

Is Aventura an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Aventura, the median home price is 91.7% higher than what most folks pay across the country, and monthly rent prices are 101.4% higher than the usual rates. Income levels in Aventura come in at $65,893, which is 19.1% higher than the national average.

What Factors can Influence the Cost of Living in Aventura?

Housing: When there's a high demand for housing in trendy places, it can cause property prices and rental rates to soar, leading to a significantly higher cost of living. Conversely, in less desirable locations, where demand is low, prices tend to decrease, resulting in a more budget-friendly cost of living. In Aventura, the housing index is 94.6% higher than the national average.

Healthcare: The costs associated with healthcare and insurance premiums can exhibit notable disparities based on the city or state of residence. Access to healthcare facilities, out-of-pocket expenses for medical appointments, dental care charges, prescription medication costs and specialized medical care expenses all contribute to variations in the cost of living. In Aventura, healthcare costs are 6.6% lower than the national average.

Transportation: In cities with limited or no public transportation, residents may find it necessary to own and maintain vehicles, thereby elevating the cost of living. Monthly expenditures include fuel, insurance, routine maintenance and potential lease or financing commitments. In Aventura, the transportation index stands at 1.1% higher than the national average.

Where is the Data From?

The cost of living data in Aventura displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

New Real Estate Listings in Aventura Area
Search Homes for Sale in Aventura, FL

Cost Of Living Quick Facts

  • The cost of living in Aventura is 34% higher than the Florida average
  • The cost of living in Aventura is 31% higher than the national average
  • Aventura housing is 95% higher than the national average
  • Florida general sales tax is 18% higher than the national average
  • Florida state income tax is 100% lower than the national average

Most Affordable Places to Live in and Around Aventura

See all the best places to live around Aventura

Compare Aventura, FL Cost of Living

      vs
      How would you rate the cost of living in Aventura?
      Write a review to give others more information about this area.
      Is the cost of living increasing or decreasing in Aventura?
      Write a review to give others more information about this area.
      See all Aventura poll results

      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$79,040$6,587$1,844$2,371
      Renters$49,236$4,103$1,149$1,477
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Aventura, FL, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Aventura, homeowners have a median income of $79,040. Using that number, a maximum of $1,844 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $49,236, which means there is a maximum of $1,149 to be spent on the costs of renting a home or apartment.

      Florida Sales Tax

      State General Sales Tax With Max Surtax
      Florida 6% 7.5%

      Florida Income Tax

      State Income Tax (Low) Income Tax (High)
      Florida 0% 0%

      Goods & Services

      Item Aventura National avg. Difference
      Haircut $22.18$24.268.6%
      Beauty Salon $73.78$45.5661.9%
      Toothpaste $3.50$3.705.6%
      Shampoo $1.49$1.2816.0%
      Movie $13.42$12.1310.6%
      Bowling $23.13$18.0028.5%

      Groceries

      Item Aventura National avg. Difference
      Ground Beef $5.79$5.840.8%
      Fried Chicken $1.40$1.5711.2%
      Milk $4.58$4.672.0%
      Potatoes $5.27$4.936.8%
      Pizza $14.00$12.0915.8%
      Beer $11.23$10.417.9%

      Health Care

      Item Aventura National avg. Difference
      Optometrist $113.16$125.6810.0%
      Doctor $114.67$135.7815.5%
      Dentist $106.72$113.295.8%
      Ibuprofen $10.94$10.652.7%
      Lipitor $489.98$468.604.6%

      Housing

      Item Aventura National avg. Difference
      Home Price $354,100.00$184,700.0091.7%
      Avg. Mortgage Payment $3,476.17$2,346.6948.1%
      Apartment Rent $1,911.00$949.00101.4%

      Transportation

      Item Aventura National avg. Difference
      Gasoline $3.43$3.460.9%
      Tire Balancing $63.46$59.925.9%

      Utilities

      Item Aventura National avg. Difference
      All Electricity $200.94$193.993.6%
      Phone $194.37$192.251.1%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Medley, FL1,0538712.6%
      Pembroke Park, FL6,7168910.9%
      Lauderdale Lakes, FL36,063973.2%
      Gladeview, FL13,490981.8%
      Franklin Park, FL1,549981.7%
      Aventura, FL37,15113130.6%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Mechanicsville, VA37,14111010.0%
      Richmond West, FL37,12313131.0%
      Cottage Grove, MN37,12011111.3%
      Greenfield, WI37,1171010.9%
      Braintree Town, MA37,19615353.4%
      Aventura, FL37,15113130.6%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.