A+
2%
Overall NAT. AVG.
4%
Goods & Services NAT. AVG.
1%
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 Edgewater Florida National
Cost of living9898100
Goods & Services9698100
Groceries9999100
Health care9496100
Housing9996100
Transportation10299100
Utilities10097100

An Overview of Cost of Living in Edgewater, FL

Knowing the cost of living in Edgewater allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Edgewater stands at 98, marking it 2% lower than the national average.

Everyday expenditures like food, housing, goods and services, transportation and health care in Edgewater are priced in a manner consistent with other areas. This means that residents of Edgewater can anticipate their daily expenses remaining reasonably similar to those in an average city, thereby supporting a manageable cost of living.

Is Edgewater Affordable?

Is Edgewater an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Edgewater is 6.6% lower than the national average, while the average monthly rent prices are 11.1% higher than average. The affordability of any location can also be influenced by median income levels. Edgewater has a median household income of $49,487, which is 10.5% lower than the national average.

What Factors can Influence the Cost of Living in Edgewater?

Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In Edgewater, the transportation index is 2% higher than the national average.

Housing: A sought-after location with high housing demand often leads to increased property values and rental rates, which can significantly inflate the overall cost of living. Conversely, areas with low housing demand, particularly in less desirable locales, tend to experience the opposite effect, causing prices to drop and contributing to a more affordable cost of living. In Edgewater, the housing index stands at 1.3% lower than the national average.

Groceries: Over the past 2-3 years, grocery expenses have experienced substantial upward trends. In certain markets, food prices have surged by over 20% during this period, while others have witnessed more modest increases. These fluctuations in food costs can wield significant influence over the overall cost of living in a given region. In Edgewater, the groceries index is 1.5% lower than the national average.

Where is the Data From?

The Edgewater cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Edgewater is equal to the Florida average
  • The cost of living in Edgewater is 2% lower than the national average
  • Edgewater housing is 1% 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

Most Affordable Places to Live in and Around Edgewater

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Compare Edgewater, 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$50,822$4,235$1,186$1,525
      Renters$42,113$3,509$983$1,264
      The affordability of the housing market in Edgewater, 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 Edgewater homeowners, the median income is $50,822. This indicates that a monthly maximum of $1,186 should be spent by homeowners on all housing related costs. Renters have a median income of $42,113. This indicates that renters would have a maximum of $983 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 Edgewater National avg. Difference
      Haircut $16.22$24.2633.1%
      Beauty Salon $44.45$45.562.5%
      Toothpaste $3.68$3.700.5%
      Shampoo $1.44$1.2812.8%
      Movie $10.85$12.1310.6%
      Bowling $15.24$18.0015.3%

      Groceries

      Item Edgewater National avg. Difference
      Ground Beef $7.04$5.8420.5%
      Fried Chicken $1.41$1.5710.5%
      Milk $4.59$4.671.8%
      Potatoes $5.08$4.932.9%
      Pizza $11.04$12.098.7%
      Beer $10.70$10.412.7%

      Health Care

      Item Edgewater National avg. Difference
      Optometrist $89.44$125.6828.8%
      Doctor $88.17$135.7835.1%
      Dentist $132.25$113.2916.7%
      Ibuprofen $10.63$10.650.2%
      Lipitor $500.02$468.606.7%

      Housing

      Item Edgewater National avg. Difference
      Home Price $172,600.00$184,700.006.6%
      Avg. Mortgage Payment $2,061.37$2,346.6912.2%
      Apartment Rent $1,054.00$949.0011.1%

      Transportation

      Item Edgewater National avg. Difference
      Gasoline $3.52$3.461.7%
      Tire Balancing $61.64$59.922.9%

      Utilities

      Item Edgewater National avg. Difference
      All Electricity $190.45$193.991.8%
      Phone $194.79$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.
      South Daytona, FL13,098955.0%
      Oak Hill, FL2,0411022.1%
      Port Orange, FL63,8151033.1%
      New Smyrna Beach, FL27,20711111.4%
      Daytona Beach Shores, FL4,55211817.7%
      Edgewater, FL23,710981.9%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Pelham, AL23,7071022.0%
      Allendale, MI23,6961000.4%
      Monsey, NY23,73316666.1%
      North Platte, NE23,7348515.0%
      Corsicana, TX23,736918.6%
      Edgewater, FL23,710981.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.