Hollywood 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.
IndexHollywoodFloridaNational
Cost of living index102100100
IndexHollywoodFloridaNational
Goods & Services index99101100
Groceries index102105100
Health care index9997100
Housing index10395100
Transportation index118105100
Utilities index97102100
An overview of the general cost of living index for Hollywood, FL is displayed above for your reference. Residents in Hollywood, FL enjoy a cost of living index of 102. This index is 2% higher than the Florida average, and 2% higher than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Hollywood, FL, the average cost of goods and services is 2% lower than it is in Florida, and it is 1% lower than the national average.

Did you know?

  • The cost of living in Hollywood is 2% higher than the Florida average.
  • The cost of living in Hollywood is 2% higher than the national average.
  • The cost of housing in Hollywood is 3% 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.

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Compare Hollywood, FL Cost of living To Other Cities

Salary Calculator

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Groceries index
Health care index
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Use the salary calculator to compare your current income in Hollywood, FL to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Hollywood, FL, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Hollywood, FL salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$59,475$4,956$1,388$1,784
Renters$33,812$2,818$789$1,014
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Hollywood, FL as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Hollywood, FL homeowners, is $59,475. This would allow for a maximum of $1,388 per month to be spent on housing costs. For renters, the median monthly income is $33,812 which would result in a maximum of $789 to be spent on rental costs.

Florida Sales Tax

StateGeneral Sales TaxWith Max Surtax
Florida6%7.5%

Florida Income Tax

StateIncome Tax (Low)Income Tax (High)
Florida0%0%
The Florida sales tax and Florida income tax rates should definitely be considered when determining the overall cost of living in Hollywood, FL. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Florida sales tax is 6% and the maximum surtax is 7.5%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Florida income tax rates range from 0% to 0%.

Goods & Services

ItemHollywoodNational avg.Difference
Haircut $12.83$14.5912.1%
Beauty Salon $49.75$34.6843.5%
Toothpaste $2.91$2.4717.7%
Shampoo $1.03$1.020.8%
Movie $12.41$9.8725.8%
Bowling $4.53$4.393.1%

Groceries

ItemHollywoodNational avg.Difference
Ground Beef $5.12$4.4814.4%
Fried Chicken $1.56$1.466.6%
Milk $2.82$2.3619.7%
Potatoes $3.32$3.068.4%
Pizza $8.99$9.242.7%
Beer $8.02$8.637.1%

Health Care

ItemHollywoodNational avg.Difference
Optometrist $95.80$99.784.0%
Doctor $87.00$105.0317.2%
Dentist $87.40$88.701.5%
Ibuprofen $11.59$9.4123.1%
Lipitor $332.58$298.5011.4%

Housing

ItemHollywoodNational avg.Difference
Home Price $172,800.00$175,700.001.7%
Avg. Mortgage Payment $1,564.37$1,081.0344.7%
Apartment Rent $1,036.00$920.0012.6%

Transportation

ItemHollywoodNational avg.Difference
Gasoline $2.35$2.0912.6%
Tire Balancing $59.59$45.2931.6%

Utilities

ItemHollywoodNational avg.Difference
All Electricity$166.37$170.802.6%
Phone $27.52$28.262.6%
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.
Medley, FL94090-10%
Pembroke Park, FL6,22089-11%
Franklin Park, FL1,00090-10%
Brownsville, FL14,83593-7%
Opa-locka, FL15,86794-6%
Hollywood, FL145,1281022%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Syracuse, NY144,64890-10%
Lakewood, CO145,8801099%
Sunnyvale, CA145,92118989%
Cary, NC146,04111616%
Naperville, IL144,10812828%
Hollywood, FL145,1281022%
Source: The Hollywood, FL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.