Margate 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.
IndexMargateFloridaNational
Cost of living index97100100
IndexMargateFloridaNational
Goods & Services index99101100
Groceries index102105100
Health care index9997100
Housing index8595100
Transportation index118105100
Utilities index97102100
Displayed above is a general overview of the Margate, FL cost of living index. The overall cost of living index in Margate, FL is 97, which is 3% lower than the Florida average and 3% lower than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Margate, FL are 2% lower than the Florida average and 1% lower than the national average.

Did you know?

  • The cost of living in Margate is 3% lower than the Florida average.
  • The cost of living in Margate is 3% lower than the national average.
  • The cost of housing in Margate is 15% 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 Margate, FL Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current salary in Margate, FL to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Margate, FL, then you would need to earn more income in order to maintain the same standard of living. To use the Margate, FL salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$44,665$3,722$1,042$1,340
Renters$34,220$2,852$798$1,027
The affordability of the housing market in Margate, 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 Margate, FL homeowners, the median income is $44,665. This indicates that a monthly maximum of $1,042 should be spent by homeowners on all housing related costs. Renters have a median income of $34,220. This indicates that renters should have a maximum of $798 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%
The Florida sales tax and Florida income tax rates should definitely be considered when determining the overall cost of living in Margate, 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

ItemMargateNational 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

ItemMargateNational 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

ItemMargateNational 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

ItemMargateNational avg.Difference
Home Price $118,600.00$175,700.0032.5%
Avg. Mortgage Payment $1,564.37$1,081.0344.7%
Apartment Rent $1,166.00$920.0026.7%

Transportation

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

Utilities

ItemMargateNational 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.
Franklin Park, FL1,00090-10%
Lauderdale Lakes, FL33,71091-9%
Lauderhill, FL69,08293-7%
Watergate, FL3,14293-7%
Washington Park, FL1,51494-6%
Margate, FL54,92997-3%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Buckeye, AZ54,92793-7%
Porterville, CA54,94999-1%
South Hill, WA54,87811616%
Spring, TX54,99290-10%
The Hammocks, FL54,83311313%
Margate, FL54,92997-3%
Source: The Margate, FL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.