Destin, Florida Cost Of Living

Buy Rent

F

Overall 13%

Goods & Services 6%

Housing 48%

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	Destin	Florida	National
Cost of living	113	99	100
Goods & Services	95	98	100
Groceries	96	106	100
Health care	94	99	100
Housing	148	96	100
Transportation	95	99	100
Utilities	120	105	100

Key findings

The cost of living in Destin is 14% higher than the Florida average
The cost of living in Destin is 13% higher than the national average
Destin housing is 48% 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

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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	$75,926	$6,327	$1,771	$2,278
Renters	$55,439	$4,620	$1,293	$1,663

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Destin, FL, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Destin homeowners, is $75,926. This would allow for a maximum of $1,771 per month to be spent on housing costs. For renters, the median monthly income is $55,439 which would result in a maximum of $1,293 to be spent on rental 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	Destin	National avg.	Difference
Haircut	$22.33	$20.27	10.2%
Beauty Salon	$41.11	$40.39	1.8%
Toothpaste	$2.57	$2.36	9.1%
Shampoo	$0.88	$1.08	18.2%
Movie	$11.31	$10.99	2.9%
Bowling	$12.61	$15.49	18.6%

Groceries

Item	Destin	National avg.	Difference
Ground Beef	$4.79	$4.30	11.4%
Fried Chicken	$1.36	$1.40	2.8%
Milk	$3.45	$2.20	56.6%
Potatoes	$4.47	$3.22	38.7%
Pizza	$10.62	$10.74	1.1%
Beer	$9.85	$9.60	2.6%

Health Care

Item	Destin	National avg.	Difference
Optometrist	$70.41	$109.73	35.8%
Doctor	$94.42	$118.34	20.2%
Dentist	$99.60	$100.94	1.3%
Ibuprofen	$11.97	$9.93	20.5%
Lipitor	$493.34	$469.53	5.1%

Housing

Item	Destin	National avg.	Difference
Home Price	$279,400.00	$184,700.00	51.3%
Avg. Mortgage Payment	$1,068.84	$1,229.62	13.1%
Apartment Rent	$1,347.00	$949.00	41.9%

Transportation

Item	Destin	National avg.	Difference
Gasoline	$2.86	$2.71	5.6%
Tire Balancing	$40.98	$51.86	21.0%

Utilities

Item	Destin	National avg.	Difference
All Electricity	$226.81	$170.84	32.8%
Phone	$192.15	$187.18	2.7%

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.
Ocean City, FL	6,305	96	4.2%
Wright, FL	23,382	96	3.9%
Fort Walton Beach, FL	21,238	96	3.5%
Mary Esther, FL	4,177	97	2.6%
Niceville, FL	14,325	101	1.2%
Destin, FL	13,312	113	13.4%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Solana Beach, CA	13,312	217	117.5%
Fergus Falls, MN	13,310	96	3.8%
Spring Creek, NV	13,310	102	2.4%
Shorewood, WI	13,300	111	10.7%
Saint-Amable, QC	13,300	n/a
Destin, FL	13,312	113	13.4%

Source: This data reflects 2021 and was released from C2ER in January, 2022; this is the most current data available.