C-
18%
Overall NAT. AVG.
1%
Goods & Services NAT. AVG.
67%
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 Cocoa Beach Florida National
Cost of living11898100
Goods & Services10198100
Groceries9899100
Health care9296100
Housing16796100
Transportation9599100
Utilities9097100

An Overview of Cost of Living in Cocoa Beach, FL

Getting a feel for the cost of living in Cocoa Beach 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 Cocoa Beach is 118, which is 18% 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.

Housing costs significantly influence the Cocoa Beach cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 67.1%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.

Is Cocoa Beach Affordable?

Is Cocoa Beach 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 Cocoa Beach, the median home price is 78.6% higher than what most folks pay across the country, and monthly rent prices are 40.3% higher than the usual rates. Income levels in Cocoa Beach come in at $66,706, which is 20.6% higher than the national average.

What Factors can Influence the Cost of Living in Cocoa Beach?

Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Cocoa Beach, the groceries index is 2.2% lower than the national average.

Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday goods and services, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Cocoa Beach, the standard sales tax rate starts at 6%, and the income tax rates commence at 0%.

Subsidies: Some areas might offer government subsidies or assistance programs that help lower cost of living for residents. These programs can include anything from Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and crop subsidies. Areas that offer less subsidies, could see an increase in their cost of living.

Where is the Data From?

The Cocoa Beach cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.

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

Cost Of Living Quick Facts

  • The cost of living in Cocoa Beach is 21% higher than the Florida average
  • The cost of living in Cocoa Beach is 18% higher than the national average
  • Cocoa Beach housing is 67% 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 Cocoa Beach

See all the best places to live around Cocoa Beach

Compare Cocoa Beach, FL Cost of Living

      vs
      How would you rate the cost of living in Cocoa Beach?
      Write a review to give others more information about this area.
      Is the cost of living increasing or decreasing in Cocoa Beach?
      Write a review to give others more information about this area.
      See all Cocoa Beach 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$78,795$6,566$1,838$2,364
      Renters$44,508$3,709$1,038$1,335
      A good indicator of the general affordability of housing in Cocoa Beach, FL, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Cocoa Beach, the median monthly income is $78,795 for those who own their own homes. Under the standard rule, that income level would allow for $1,838 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $44,508, per the median income in the area. That would allow for renters to spend up to $1,038 on monthly rental expenses.

      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 Cocoa Beach National avg. Difference
      Haircut $26.53$24.269.4%
      Beauty Salon $55.13$45.5621.0%
      Toothpaste $3.84$3.703.8%
      Shampoo $1.48$1.2815.8%
      Movie $13.54$12.1311.6%
      Bowling $19.87$18.0010.4%

      Groceries

      Item Cocoa Beach National avg. Difference
      Ground Beef $6.26$5.847.1%
      Fried Chicken $1.40$1.5711.0%
      Milk $4.58$4.671.9%
      Potatoes $5.23$4.936.0%
      Pizza $13.13$12.098.6%
      Beer $11.07$10.416.3%

      Health Care

      Item Cocoa Beach National avg. Difference
      Optometrist $118.44$125.685.8%
      Doctor $137.00$135.780.9%
      Dentist $125.36$113.2910.7%
      Ibuprofen $10.89$10.652.2%
      Lipitor $446.86$468.604.6%

      Housing

      Item Cocoa Beach National avg. Difference
      Home Price $329,800.00$184,700.0078.6%
      Avg. Mortgage Payment $2,463.53$2,346.695.0%
      Apartment Rent $1,331.00$949.0040.3%

      Transportation

      Item Cocoa Beach National avg. Difference
      Gasoline $3.39$3.462.1%
      Tire Balancing $57.07$59.924.8%

      Utilities

      Item Cocoa Beach National avg. Difference
      All Electricity $190.71$193.991.7%
      Phone $194.67$192.251.3%
      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.
      Cocoa West, FL5,9668910.5%
      Cocoa, FL20,151919.1%
      Sharpes, FL2,752955.3%
      Port St. John, FL23,9401000.1%
      Palm Shores, FL1,6221043.5%
      Cocoa Beach, FL11,66311818.3%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Estevan, SK11,667n/a 
      Bogalusa, LA11,6588515.4%
      Destrehan, LA11,6581087.7%
      Wyndham, VA11,65614948.6%
      Smithfield, UT11,6701076.6%
      Cocoa Beach, FL11,66311818.3%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.