| Index | Coral Terrace | Florida | National |
| Cost of living | 127 | 102 | 100 |
| Groceries | 100 | 102 | 100 |
| Health care | 105 | 104 | 100 |
| Housing | 183 | 97 | 100 |
| Transportation | 100 | 103 | 100 |
| Utilities | 109 | 110 | 100 |
| Lifestyle & Entertainment | 106 | 104 | 100 |
| Household Items | 102 | 102 | 100 |
| Education & Childcare | 107 | 106 | 100 |
Understanding the cost of living in Coral Terrace can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Coral Terrace cost of living index is 127, which is 27% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.
If you prioritize affordability when seeking a new place to live, Coral Terrace may not be your ideal choice, as it ranks among the most expensive locations in the entire United States. A very small amount of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Coral Terrace falls into this category, which may not align with your preferences for a budget-friendly living environment.
Housing costs make up a big chunk of the cost of living in Coral Terrace, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 83.2% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.
Wondering if Coral Terrace is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Coral Terrace, for example, the median home price is 97.3% higher than what folks pay nationally, and monthly rent is 50.3% higher than the usual rates. Plus, income levels matter too, with Coral Terrace boasting a median household income of $94,172, which is 15.8% 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.
Utilities: Similar to the prices of any other goods or services, utility expenditures can exhibit substantial variability, influenced by factors such as climate, energy sources accessibility, geographical location and state regulations. Costs related to electricity, water, heating, and waste disposal can fluctuate, whether higher or lower, contingent on the city or state. In Coral Terrace, the utilities index is 8.7% higher than the national average.
Groceries: Grocery prices have seen substantial hikes in the last 2-3 years, with some markets witnessing food cost increases of over 20% during this period. Conversely, certain markets have experienced only moderate upticks. These variations in food expenses can have a substantial impact on the overall cost of living in any locality. In Coral Terrace, the groceries index is 0.3% lower than the national average.
The cost of living estimates displayed for Coral Terrace are modeled using a U.S. average baseline of 100, helping provide a useful comparison of local living expenses. Housing calculations include U.S. Census home price and rental data, while all other values are AI-assisted estimates based on regional cost patterns, climate, transportation, and everyday spending expectations. These values are intended for directional comparisons across cities.
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| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $119,722 | $9,977 | $2,793 | $3,592 |
| Renters | $76,935 | $6,411 | $1,795 | $2,308 |
| State | General Sales Tax | With Max Surtax |
| Florida | 6% | 7.5% |
| State | Income Tax (Low) | Income Tax (High) |
| Florida | 0% | 0% |
| City | Population | Cost of Living Index | National Avg. |
| Medley, FL | 1,076 | 89 | 10.7% |
| Gladeview, FL | 13,938 | 99 | 1.4% |
| Opa-locka, FL | 16,610 | 101 | 1.2% |
| West Little River, FL | 33,229 | 104 | 3.6% |
| Brownsville, FL | 18,170 | 105 | 4.9% |
| Coral Terrace, FL | 26,129 | 127 | 27.4% |
| City | Population | Cost of Living Index | National Avg. |
| Austin, MN | 26,125 | 91 | 8.7% |
| Zanesville, OH | 26,125 | 83 | 16.5% |
| Dedham, MA | 26,137 | 152 | 51.6% |
| Haines City, FL | 26,146 | 100 | 0.3% |
| Reading, MA | 26,111 | 161 | 61.5% |
| Coral Terrace, FL | 26,129 | 127 | 27.4% |
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