Indian River Estates 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.
IndexIndian River EstatesFloridaNational
Cost of living index95100100
IndexIndian River EstatesFloridaNational
Goods & Services index102101100
Groceries index113105100
Health care index9697100
Housing index6995100
Transportation index99105100
Utilities index124102100
A general overview of the cost of living index for Indian River Estates, FL is displayed above. In Indian River Estates, FL, the overall cost of living index is 95, which is 5% lower than the Florida average and 5% 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 Indian River Estates, FL, the city's goods and services are 1% higher than the Florida average and 2% higher than the U.S. average.

Did you know?

  • The cost of living in Indian River Estates is 5% lower than the Florida average.
  • The cost of living in Indian River Estates is 5% lower than the national average.
  • The cost of housing in Indian River Estates is 31% 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 Indian River Estates, FL Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
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Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
The salary calculator is used in order to provide a comparison of your current salary in Indian River Estates, FL to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Indian River Estates, FL, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Indian River Estates, FL salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$42,349$3,529$988$1,271
Renters$20,042$1,670$468$601
The affordability of the housing market in Indian River Estates, FL as well as the overall cost of living can be indicated accurately 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 ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Indian River Estates, FL homeowners, the median income is $42,349. This indicates that a monthly maximum of $988 should be spent by homeowners on all housing related costs. Renters have a median income of $20,042. This indicates that renters should have a maximum of $468 used for their rent related monthly costs.

Florida Sales Tax

StateGeneral Sales TaxWith Max Surtax
Florida6%7.5%

Florida Income Tax

StateIncome Tax (Low)Income Tax (High)
Florida0%0%
For those who live in Indian River Estates, FL and want to know what the true cost of living is, they ought to look at both the Florida income tax rate and the Florida sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Florida, the sales tax is 6%, while the most you'll pay in surtax is 7.5%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Florida, the income tax rate ranges between 0% to 0%.

Goods & Services

ItemIndian River EstatesNational avg.Difference
Haircut $14.67$14.590.5%
Beauty Salon $42.67$34.6823.0%
Toothpaste $3.00$2.4721.3%
Shampoo $1.05$1.022.7%
Movie $9.13$9.877.5%
Bowling $4.75$4.398.2%

Groceries

ItemIndian River EstatesNational avg.Difference
Ground Beef $4.49$4.480.3%
Fried Chicken $1.64$1.4612.0%
Milk $2.83$2.3620.1%
Potatoes $3.94$3.0628.7%
Pizza $8.99$9.242.7%
Beer $8.99$8.634.1%

Health Care

ItemIndian River EstatesNational avg.Difference
Optometrist $105.00$99.785.2%
Doctor $77.53$105.0326.2%
Dentist $95.00$88.707.1%
Ibuprofen $11.24$9.4119.4%
Lipitor $280.37$298.506.1%

Housing

ItemIndian River EstatesNational avg.Difference
Home Price $96,300.00$175,700.0045.2%
Avg. Mortgage Payment $973.83$1,081.039.9%
Apartment Rent $951.00$920.003.4%

Transportation

ItemIndian River EstatesNational avg.Difference
Gasoline $2.15$2.092.9%
Tire Balancing $39.98$45.2911.7%

Utilities

ItemIndian River EstatesNational avg.Difference
All Electricity$209.21$170.8022.5%
Phone $35.75$28.2626.5%
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.
Ocean Breeze Park, FL25884-16%
Fort Pierce North, FL6,90189-11%
Fort Pierce South, FL4,88790-10%
River Park, FL5,35291-9%
Lakewood Park, FL11,30492-8%
Indian River Estates, FL5,95395-5%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Green Knoll, NJ5,95414545%
Larchmont, NY5,952221121%
Hilton, NY5,95496-4%
Independence, IA5,95587-13%
Wescosville, PA5,95112424%
Indian River Estates, FL5,95395-5%
Source: The Indian River Estates, FL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.