Cocoa cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexCocoaFloridaNational
Cost of living index87100100
IndexCocoaFloridaNational
Goods & Services index98101100
Groceries index107105100
Health care index9697100
Housing index6095100
Transportation index103105100
Utilities index91102100
A general overview of the cost of living index for Cocoa, FL is displayed above. In Cocoa, FL, the overall cost of living index is 87, which is 13% lower than the Florida average and 13% lower than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Cocoa, FL, the city's goods and services are 3% lower than the Florida average and 2% lower than the U.S. average.

Did you know?

  • The cost of living in Cocoa is 13% lower than the Florida average.
  • The cost of living in Cocoa is 13% lower than the national average.
  • The cost of housing in Cocoa is 40% lower 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.

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Compare Cocoa, FL Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current salary in Cocoa, FL to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Cocoa, FL, then you would need to earn more income in order to maintain the same standard of living. To use the Cocoa, FL salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$46,894$3,908$1,094$1,407
Renters$21,293$1,774$497$639
If you want to find a good determining factor for the cost of living and the general affordability of housing in Cocoa, FL, all you must look at 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, FL, the median monthly income is $46,894 for those who own their own homes. Under the standard rule, that income level would allow for $1,094 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $21,293, per the median income in the area. That would allow for renters to spend up to $497 on monthly rental expenses.

Florida Sales Tax

StateGeneral Sales TaxWith Max Surtax
Florida6%7.5%

Florida Income Tax

StateIncome Tax (Low)Income Tax (High)
Florida0%0%
One thing to keep in mind when considering the cost of living in Cocoa, FL is the Florida sales tax and Florida income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Florida sales tax rate is 6% and the maximum surtax that can be charged is 7.5%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Florida income tax rates range from 0% to 0%.

Goods & Services

ItemCocoaNational avg.Difference
Haircut $13.83$14.595.2%
Beauty Salon $41.14$34.6818.6%
Toothpaste $3.11$2.4725.7%
Shampoo $0.94$1.028.0%
Movie $10.40$9.875.4%
Bowling $4.78$4.398.8%

Groceries

ItemCocoaNational avg.Difference
Ground Beef $4.76$4.486.3%
Fried Chicken $1.49$1.461.8%
Milk $2.76$2.3617.1%
Potatoes $3.61$3.0617.9%
Pizza $10.11$9.249.4%
Beer $8.51$8.631.4%

Health Care

ItemCocoaNational avg.Difference
Optometrist $65.50$99.7834.4%
Doctor $88.80$105.0315.5%
Dentist $88.80$88.700.1%
Ibuprofen $9.98$9.416.0%
Lipitor $314.74$298.505.4%

Housing

ItemCocoaNational avg.Difference
Home Price $93,800.00$175,700.0046.6%
Avg. Mortgage Payment $1,021.34$1,081.035.5%
Apartment Rent $699.00$920.0024.0%

Transportation

ItemCocoaNational avg.Difference
Gasoline $2.14$2.092.5%
Tire Balancing $47.37$45.294.6%

Utilities

ItemCocoaNational avg.Difference
All Electricity$178.86$170.804.7%
Phone $20.01$28.2629.2%
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, StatePopulationCost of Living IndexNational Avg.
Sharpes, FL3,05982-18%
Cocoa West, FL4,80285-15%
Port St. John, FL11,44492-8%
Rockledge, FL25,47795-5%
Cape Canaveral, FL9,96096-4%
Cocoa, FL17,26187-13%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Shafter, CA17,26198-2%
North Babylon, NY17,26214343%
Buckhall, VA17,26513434%
Durango, CO17,26812626%
Jenison, MI17,27196-4%
Cocoa, FL17,26187-13%
Source: The Cocoa, FL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.