F
30%
Overall NAT. AVG.
6%
Goods & Services NAT. AVG.
92%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Olympia Heights Florida National
Cost of living13098100
Goods & Services10698100
Groceries10499100
Health care9696100
Housing19296100
Transportation10399100
Utilities10397100

An Overview of Cost of Living in Olympia Heights, FL

Getting a feel for the cost of living in Olympia Heights is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Olympia Heights is 130, which is 30% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

If affordability is among your top priorities when searching for a new place to live, this area may not be the ideal fit, as the cost of living in Olympia Heights is among the most expensive in the United States. Just a minority of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Olympia Heights falls into this category, which may not align with your goal of finding a budget-friendly living environment.

Housing costs significantly influence the Olympia Heights cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 91.9%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.

Is Olympia Heights Affordable?

Is Olympia Heights affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Olympia Heights, for instance, where the median home price falls 99% higher than the national average, and monthly rent rates are 75.3% higher than usual. Additionally, median income levels contribute to the equation, with Olympia Heights flaunting a median household income of $73,469, 32.8% higher than the national norm.

What Factors can Influence the Cost of Living in Olympia Heights?

Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.

Transportation: In cities with limited or no public transportation, residents may find it necessary to own and maintain vehicles, thereby elevating the cost of living. Monthly expenditures include fuel, insurance, routine maintenance and potential lease or financing commitments. In Olympia Heights, the transportation index stands at 2.6% higher than the national average.

Housing: High demand for housing in desirable locations can drive up property prices and rental rates. This can be a primary contributor to a higher cost of living. While low demand for housing, especially in undesirable locations, can have the reverse effect and drive prices down, resulting in a lower cost of living. The housing index in Olympia Heights, is 91.9% higher than the national average.

Where is the Data From?

The Olympia Heights cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Olympia Heights is 34% higher than the Florida average
  • The cost of living in Olympia Heights is 30% higher than the national average
  • Olympia Heights housing is 92% 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

Most Affordable Places to Live in and Around Olympia Heights

See all the best places to live around Olympia Heights

Compare Olympia Heights, FL Cost of Living

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      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
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$85,660$7,138$1,999$2,570
      Renters$41,364$3,447$965$1,241
      The affordability of the housing market in Olympia Heights, FL as well as the overall cost of living can be predicted 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 be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Olympia Heights homeowners, the median income is $85,660. This indicates that a monthly maximum of $1,999 should be spent by homeowners on all housing related costs. Renters have a median income of $41,364. This indicates that renters would have a maximum of $965 for their rent related monthly costs.

      Florida Sales Tax

      State General Sales Tax With Max Surtax
      Florida 6% 7.5%

      Florida Income Tax

      State Income Tax (Low) Income Tax (High)
      Florida 0% 0%

      Goods & Services

      Item Olympia Heights National avg. Difference
      Haircut $20.53$24.2615.4%
      Beauty Salon $88.07$45.5693.3%
      Toothpaste $3.51$3.705.2%
      Shampoo $1.53$1.2819.7%
      Movie $14.35$12.1318.2%
      Bowling $23.67$18.0031.5%

      Groceries

      Item Olympia Heights National avg. Difference
      Ground Beef $6.11$5.844.6%
      Fried Chicken $1.40$1.5711.2%
      Milk $4.60$4.671.5%
      Potatoes $5.24$4.936.2%
      Pizza $14.13$12.0916.9%
      Beer $11.44$10.419.9%

      Health Care

      Item Olympia Heights National avg. Difference
      Optometrist $98.49$125.6821.6%
      Doctor $127.08$135.786.4%
      Dentist $107.83$113.294.8%
      Ibuprofen $11.10$10.654.2%
      Lipitor $490.35$468.604.6%

      Housing

      Item Olympia Heights National avg. Difference
      Home Price $367,500.00$184,700.0099.0%
      Avg. Mortgage Payment $3,109.00$2,346.6932.5%
      Apartment Rent $1,664.00$949.0075.3%

      Transportation

      Item Olympia Heights National avg. Difference
      Gasoline $3.49$3.460.8%
      Tire Balancing $64.09$59.927.0%

      Utilities

      Item Olympia Heights National avg. Difference
      All Electricity $200.94$193.993.6%
      Phone $194.37$192.251.1%
      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 Population Cost of Living Index National Avg.
      Medley, FL1,0538712.6%
      Gladeview, FL13,490981.8%
      Opa-locka, FL16,0081010.7%
      West Little River, FL32,2931033.3%
      Brownsville, FL17,4751055.1%
      Olympia Heights, FL14,26113030.5%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Grain Valley, MO14,261972.7%
      Princeton Meadows, NJ14,26115150.7%
      Beeville, TX14,2618416.2%
      Dayton, NV14,25811312.6%
      Thames Centre, ON14,265n/a 
      Olympia Heights, FL14,26113030.5%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.