Indian River Shores 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 ShoresFloridaNational
Cost of living index187100100
IndexIndian River ShoresFloridaNational
Goods & Services index102101100
Groceries index113105100
Health care index9697100
Housing index37695100
Transportation index99105100
Utilities index124102100
A general summary of the cost of living index in Indian River Shores, FL is shown above. Compared to the state average of Florida the cost of living index in Indian River Shores, FL is 187, which is 87% higher than the average in Florida and compared to the national average it is 87% higher than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Indian River Shores, FL goods and services come in at 1% higher than the average in Florida and are 2% higher than compared to the nationwide average.

Did you know?

  • The cost of living in Indian River Shores is 87% higher than the Florida average.
  • The cost of living in Indian River Shores is 87% higher than the national average.
  • The cost of housing in Indian River Shores is 276% 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 Indian River Shores, FL Cost of living To Other Cities

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
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Using the salary calculator lets you compare the salary you earn in Indian River Shores, FL to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Indian River Shores, FL, you have to earn a higher income in order to still have the same standard of living. To operate the Indian River Shores, FL salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$119,574$9,965$2,790$3,588
Renters$66,500$5,542$1,552$1,995
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Indian River Shores, FL, as well as what the average cost of living is. 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 payment and not more than 36 percent of income on all expenses and debts. In Indian River Shores, FL homeowners have a median income of $119,574. Using that number, you will come up with a maximum of $2,790 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $66,500, which means there is a maximum of $1,552 to be spent on the costs of renting a home or apartment.

Florida Sales Tax

StateGeneral Sales TaxWith Max Surtax
Florida6%7.5%

Florida Income Tax

StateIncome Tax (Low)Income Tax (High)
Florida0%0%
When you are determining the total cost of living in Indian River Shores, FL you will want to make sure you consider both the Florida sales tax and the Florida income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Florida is 6%, with the highest surtax being 7.5%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Florida have a range from 0% to 0%.

Goods & Services

ItemIndian River ShoresNational 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 ShoresNational 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 ShoresNational 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 ShoresNational avg.Difference
Home Price $660,800.00$175,700.00276.1%
Avg. Mortgage Payment $973.83$1,081.039.9%
Apartment Rent $0.00$920.00100.0%

Transportation

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

Utilities

ItemIndian River ShoresNational 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.
Micco, FL8,55590-10%
Fellsmere, FL5,31290-10%
West Vero Corridor, FL7,17691-9%
Lakewood Park, FL11,30492-8%
Florida Ridge, FL18,05695-5%
Indian River Shores, FL3,98018787%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Huntingdon, TN3,97986-14%
Spencer, OK3,97981-19%
Three Rivers, OR3,98111212%
Campbelltown, PA3,9781088%
Walton, KY3,97791-9%
Indian River Shores, FL3,98018787%
Source: The Indian River Shores, FL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.