D
25%
Overall NAT. AVG.
5%
Goods & Services NAT. AVG.
76%
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 Fort Lauderdale Florida National
Cost of living12598100
Goods & Services10598100
Groceries10499100
Health care9396100
Housing17696100
Transportation10199100
Utilities10397100

An Overview of Cost of Living in Fort Lauderdale, FL

Getting a feel for the cost of living in Fort Lauderdale 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 Fort Lauderdale is 125, which is 25% 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, Fort Lauderdale 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, Fort Lauderdale falls within this bracket.

Housing costs make up a big chunk of the cost of living in Fort Lauderdale, 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 75.8% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.

Is Fort Lauderdale Affordable?

Is Fort Lauderdale 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 Fort Lauderdale, the median home price is 90% higher than what most folks pay across the country, and monthly rent prices are 42.6% higher than the usual rates. Income levels in Fort Lauderdale come in at $64,313, which is 16.3% higher than the national average.

What Factors can Influence the Cost of Living in Fort Lauderdale?

Groceries: Grocery prices have seen substantial hikes in the last 2-3 years, with some markets witnessing food cost increases of over 20% during this period. Conversely, certain markets have experienced only moderate upticks. These variations in food expenses can have a substantial impact on the overall cost of living in any locality. In Fort Lauderdale, the groceries index is 4.3% higher than the national average.

Healthcare: Healthcare expenses and insurance premiums can vary significantly depending on the specific city or state. Factors such as accessibility to healthcare facilities, out-of-pocket expenses for doctor's visits, dental care expenses, prescription costs and specialized medical care fees can all influence the overall cost of living. In Fort Lauderdale, healthcare costs are 6.6% 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 Fort Lauderdale, the standard sales tax rate starts at 6%, and the income tax rates commence at 0%.

Where is the Data From?

The Fort Lauderdale 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 Fort Lauderdale is 28% higher than the Florida average
  • The cost of living in Fort Lauderdale is 25% higher than the national average
  • Fort Lauderdale housing is 76% 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 Fort Lauderdale

See all the best places to live around Fort Lauderdale

Compare Fort Lauderdale, 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$85,859$7,155$2,003$2,576
      Renters$47,108$3,926$1,099$1,413
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Fort Lauderdale, 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 Fort Lauderdale, homeowners have a median income of $85,859. Using that number, a maximum of $2,003 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $47,108, which means there is a maximum of $1,099 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 Fort Lauderdale 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 Fort Lauderdale 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 Fort Lauderdale 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 Fort Lauderdale National avg. Difference
      Home Price $350,900.00$184,700.0090.0%
      Avg. Mortgage Payment $3,476.17$2,346.6948.1%
      Apartment Rent $1,353.00$949.0042.6%

      Transportation

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

      Utilities

      Item Fort Lauderdale 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%
      Watergate, FL3,6581044.5%
      Fort Lauderdale, FL181,81812524.9%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Brownsville, TX182,2307723.2%
      Chattanooga, TN181,370927.5%
      Sioux Falls, SD180,927954.5%
      Vancouver, WA182,79212424.4%
      Newport News, VA179,5821032.8%
      Fort Lauderdale, FL181,81812524.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.