| Index | Hollywood | Florida | National |
| Cost of living | 118 | 102 | 100 |
| Groceries | 106 | 102 | 100 |
| Health care | 104 | 104 | 100 |
| Housing | 148 | 97 | 100 |
| Transportation | 102 | 103 | 100 |
| Utilities | 115 | 110 | 100 |
| Lifestyle & Entertainment | 108 | 104 | 100 |
| Household Items | 100 | 102 | 100 |
| Education & Childcare | 108 | 106 | 100 |
The cost of living in Hollywood affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Hollywood is 118, which is 18% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.
Housing costs are a major factor in the Hollywood 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 48% 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 Hollywood 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 Hollywood, for instance, where the median home price falls 54.8% higher than the national average, and monthly rent rates are 32.1% higher than usual. Additionally, median income levels contribute to the equation, with Hollywood flaunting a median household income of $82,543, 1.5% higher than the national norm.
Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Hollywood, healthcare costs are 4.1% higher than the national average.
Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, including 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 farm subsidies. Regions with limited subsidy provisions may witness an increase in their overall cost of living.
Housing: When there's a high demand for housing in trendy places, it can cause property prices and rental rates to soar, leading to a significantly higher cost of living. Conversely, in less desirable locations, where demand is low, prices tend to decrease, resulting in a more budget-friendly cost of living. In Hollywood, the housing index is 48% higher than the national average.
The Hollywood cost of living estimates above use a normalized U.S. average of 100 as the baseline for comparison. Housing values incorporate local home price and rental information from the U.S. Census, while all other estimates are AI-assisted and modeled using expected everyday expenses, local market trends, climate, and transportation-related cost pressures. The results are intended for practical city-to-city comparisons.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $101,587 | $8,466 | $2,370 | $3,048 |
| Renters | $63,793 | $5,316 | $1,488 | $1,914 |
| 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% |
| Pembroke Park, FL | 6,970 | 89 | 11.0% |
| Lauderdale Lakes, FL | 37,351 | 98 | 1.6% |
| Franklin Park, FL | 1,602 | 99 | 1.2% |
| Gladeview, FL | 13,938 | 99 | 1.4% |
| Hollywood, FL | 157,605 | 118 | 18.4% |
| City | Population | Cost of Living Index | National Avg. |
| Pasadena, TX | 157,942 | 94 | 6.1% |
| Sunnyvale, CA | 157,266 | 269 | 168.9% |
| Springfield, MA | 156,858 | 110 | 10.1% |
| Pomona, CA | 156,853 | 145 | 45.3% |
| Macon-Bibb County, GA | 158,411 | 93 | 7.2% |
| Hollywood, FL | 157,605 | 118 | 18.4% |
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