C-
24%
Overall NAT. AVG.
5%
Goods & Services NAT. AVG.
71%
Housing NAT. AVG.
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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 Davie Florida National
Cost of living12498100
Goods & Services10598100
Groceries10499100
Health care9396100
Housing17196100
Transportation10199100
Utilities10397100

An Overview of Cost of Living in Davie, FL

Understanding the cost of living in Davie can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Davie cost of living index is 124, which is 24% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.

The cost of living in Davie is among the highest in the country, making it a very expensive place to live. Only a small fraction of regions boast a cost of living that is at least 20% higher than the national average, and regrettably, Davie falls into this category, which may not be suitable for those seeking an economically favorable living environment.

Housing costs are a major factor in the Davie cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 71.4% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.

Is Davie Affordable?

Is Davie affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Davie, for instance, where the median home price falls 74.5% higher than the national average, and monthly rent rates are 64.2% higher than usual. Additionally, median income levels contribute to the equation, with Davie flaunting a median household income of $74,523, 34.7% higher than the national norm.

What Factors can Influence the Cost of Living in Davie?

Urbanization: Larger, urban areas boasting abundant amenities and robust employment prospects often exhibit a heightened cost of living, driven by the increased demand for services and residential relocation. Consequently, this leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural locales or regions marked by diminished demand typically offer a more limited range of amenities and experience slower job market expansion. This translates into a more affordable cost of living.

Housing: High demand for housing in desirable locations can drive up property prices and rental rates. This can be a primary contributor to a higher cost of living. While low demand for housing, especially in undesirable locations, can have the reverse effect and drive prices down, resulting in a lower cost of living. The housing index in Davie, is 71.4% higher than the national average.

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 Davie, the groceries index is 4.3% higher than the national average.

Where is the Data From?

The cost of living data in Davie 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.

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Cost Of Living Quick Facts

  • The cost of living in Davie is 27% higher than the Florida average
  • The cost of living in Davie is 24% higher than the national average
  • Davie housing is 71% 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 Davie

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Compare Davie, FL Cost of Living

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      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$92,998$7,750$2,170$2,790
      Renters$45,736$3,811$1,067$1,372
      The affordability of the housing market in Davie, FL as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Davie homeowners, the median income is $92,998. This indicates that a monthly maximum of $2,170 should be spent by homeowners on all housing related costs. Renters have a median income of $45,736. This indicates that renters would have a maximum of $1,067 for their rent related monthly costs.

      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 Davie 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 Davie 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 Davie 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 Davie National avg. Difference
      Home Price $322,300.00$184,700.0074.5%
      Avg. Mortgage Payment $3,476.17$2,346.6948.1%
      Apartment Rent $1,558.00$949.0064.2%

      Transportation

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

      Utilities

      Item Davie 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.
      Pembroke Park, FL6,7168910.9%
      Lauderdale Lakes, FL36,063973.2%
      Franklin Park, FL1,549981.7%
      Roosevelt Gardens, FL2,068991.0%
      Opa-locka, FL16,0081010.7%
      Davie, FL105,59412423.6%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Santa Maria, CA105,52813535.4%
      Chatham-Kent, ON105,414n/a 
      Columbia, MD105,41213333.0%
      League City, TX105,41011211.8%
      West Covina, CA105,80816059.8%
      Davie, FL105,59412423.6%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.