Cost of Living in Atlantic Beach, FL

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An Overview of Cost of Living in Atlantic Beach, FL

Knowing the cost of living in Atlantic Beach allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Atlantic Beach stands at 124, marking it 24% higher than the national average.

The cost of living in Atlantic Beach is among the highest in the country, making it a very expensive place to live. Only a small fraction of regions boast a cost of living that is at least 20% higher than the national average, and regrettably, Atlantic Beach falls into this category, which may not be suitable for those seeking an economically favorable living environment.

Housing costs are a major factor in the Atlantic Beach cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 93.4% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.

Is Atlantic Beach Affordable?

Is Atlantic Beach 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 Atlantic Beach, for instance, where the median home price falls 115.1% higher than the national average, and monthly rent rates are 42.9% higher than usual. Additionally, median income levels contribute to the equation, with Atlantic Beach flaunting a median household income of $84,830, 53.3% higher than the national norm.

What Factors can Influence the Cost of Living in Atlantic Beach?

Utilities: Similar to the prices of any goods or services, utility expenses can fluctuate widely, contingent on variables such as climate, available energy sources, geographical location and state regulations. Costs associated with electricity, water, heating, and waste disposal can differ in magnitude, depending on the specific city or state. In Atlantic Beach, the utilities index registers at 0.5% higher than the national average.

Subsidies: Certain regions may provide government subsidies or assistance initiatives designed to alleviate the cost of living burden on their residents. These programs encompass a wide range of support mechanisms, such as Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas with fewer subsidy offerings might experience an elevation in their cost of living.

Urbanization: Urban areas with a wealth of amenities and employment opportunities tend to come with a higher price tag for living. Why? Well, more people want to be there, which drives up home prices and rents. On the flip side, less densely populated rural areas or places where there's not as much demand usually mean fewer attractions, things to do and slower job growth. That often results in a lower cost of living.

Where is the Data From?

The Atlantic Beach cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.

Most Affordable Places to Live in and Around Atlantic Beach

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Median Income & Debt-To-Income Ratio

A good way to judge both the affordability of the housing and the cost of living in Atlantic Beach is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Atlantic Beach has a median income of about $98,835 for people who own homes. Based on that number, a maximum of $2,306 should be spent on expenses related to housing. Renters have a slightly different median income, which is $55,818. Based on this average, renters should spend no more than $1,302 on all rental costs if they want to maintain a non-impoverished standard of living.

Florida Sales Tax

Florida Income Tax

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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.

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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.