Melbourne 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.
IndexMelbourneFloridaNational
Cost of living index96100100
IndexMelbourneFloridaNational
Goods & Services index102101100
Groceries index113105100
Health care index9697100
Housing index7295100
Transportation index99105100
Utilities index124102100
A general overview of the cost of living index for Melbourne, FL is displayed above. In Melbourne, FL, the overall cost of living index is 96, which is 4% lower than the Florida average and 4% 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 Melbourne, 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 Melbourne is 4% lower than the Florida average.
  • The cost of living in Melbourne is 4% lower than the national average.
  • The cost of housing in Melbourne is 28% 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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Salary Calculator

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Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
Use the salary calculator to compare your current income in Melbourne, 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 Melbourne, FL, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Melbourne, 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$49,684$4,140$1,159$1,491
Renters$28,146$2,346$657$844
A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Melbourne, FL, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Melbourne, FL has a median income of about $49,684 for people who own homes. Based on that number, a person should spend a maximum of $1,159 on expenses related to housing. Renters have a slightly different median income, which is $28,146. Based on this average, renters should spend no more than $657 on all of their rental costs if they want to maintain a non-impoverished standard of living.

Florida Sales Tax

StateGeneral Sales TaxWith Max Surtax
Florida6%7.5%

Florida Income Tax

StateIncome Tax (Low)Income Tax (High)
Florida0%0%
When considering the overall cost of living expenses in Melbourne, FL, it's important to take into account the sales tax for Florida, as well as the rate for income tax in Florida. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for Florida is 7.5%, and the sales tax in the state of Florida is 6%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in Florida starts from 0% and goes up to 0%.

Goods & Services

ItemMelbourneNational 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

ItemMelbourneNational 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

ItemMelbourneNational 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

ItemMelbourneNational avg.Difference
Home Price $113,400.00$175,700.0035.5%
Avg. Mortgage Payment $973.83$1,081.039.9%
Apartment Rent $833.00$920.009.5%

Transportation

ItemMelbourneNational avg.Difference
Gasoline $2.15$2.092.9%
Tire Balancing $39.98$45.2911.7%

Utilities

ItemMelbourneNational 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.
Palm Bay, FL104,34296-4%
June Park, FL4,05998-2%
West Melbourne, FL19,2081044%
Palm Shores, FL1,1251066%
Melbourne Village, FL7221066%
Melbourne, FL77,21696-4%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Fayetteville, AR77,26494-6%
Camden, NJ77,294100-0%
Deerfield Beach, FL77,34195-5%
Lawrence, MA77,36412323%
St. Joseph, MO77,04086-14%
Melbourne, FL77,21696-4%
Source: The Melbourne, FL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.