B
11%
Overall NAT. AVG.
5%
Goods & Services NAT. AVG.
28%
Housing NAT. AVG.
Search Homes for Sale
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 Pompano Beach Florida National
Cost of living11198100
Goods & Services10598100
Groceries10499100
Health care9396100
Housing12896100
Transportation10199100
Utilities10397100

An Overview of Cost of Living in Pompano Beach, FL

Understanding the cost of living in Pompano Beach 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 Pompano Beach cost of living index is 111, which is 11% 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.

Housing costs are a major factor in the Pompano 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 27.8% 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 Pompano Beach Affordable?

Is Pompano Beach an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Pompano Beach is 23.2% higher than the national average, while the average monthly rent prices are 38.5% higher than average. The affordability of any location can also be influenced by median income levels. Pompano Beach has a median household income of $52,565, which is 5% lower than the national average.

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

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 Pompano Beach, healthcare costs are 6.6% lower than the national average.

Transportation: In areas where public transportation is scarce or unavailable, residents often find themselves compelled to own and upkeep vehicles, thereby increasing the overall cost of living. Monthly expenses encompass fuel, insurance, routine maintenance and potentially lease or financing payments. In Pompano Beach, the transportation index is 1.1% higher than the national average.

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 Pompano Beach, the utilities index registers at 2.8% higher than the national average.

Where is the Data From?

The Pompano 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.

New Real Estate Listings in Pompano Beach Area
Search Homes for Sale in Pompano Beach, FL

Cost Of Living Quick Facts

  • The cost of living in Pompano Beach is 13% higher than the Florida average
  • The cost of living in Pompano Beach is 11% higher than the national average
  • Pompano Beach housing is 28% 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 Pompano Beach

See all the best places to live around Pompano Beach

Compare Pompano Beach, FL Cost of Living

      vs
      How would you rate the cost of living in Pompano Beach?
      Write a review to give others more information about this area.
      Is the cost of living increasing or decreasing in Pompano Beach?
      Write a review to give others more information about this area.
      See all Pompano Beach poll results

      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$61,897$5,158$1,444$1,857
      Renters$45,295$3,775$1,057$1,359
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Pompano Beach, 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 Pompano Beach homeowners, is $61,897. This would allow for a maximum of $1,444 per month to be spent on housing costs. For renters, the median monthly income is $45,295 which would result in a maximum of $1,057 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 Pompano Beach National avg. Difference
      Haircut $22.18$24.268.6%
      Beauty Salon $73.78$45.5661.9%
      Toothpaste $3.50$3.705.6%
      Shampoo $1.49$1.2816.0%
      Movie $13.42$12.1310.6%
      Bowling $23.13$18.0028.5%

      Groceries

      Item Pompano Beach National avg. Difference
      Ground Beef $5.79$5.840.8%
      Fried Chicken $1.40$1.5711.2%
      Milk $4.58$4.672.0%
      Potatoes $5.27$4.936.8%
      Pizza $14.00$12.0915.8%
      Beer $11.23$10.417.9%

      Health Care

      Item Pompano Beach National avg. Difference
      Optometrist $113.16$125.6810.0%
      Doctor $114.67$135.7815.5%
      Dentist $106.72$113.295.8%
      Ibuprofen $10.94$10.652.7%
      Lipitor $489.98$468.604.6%

      Housing

      Item Pompano Beach National avg. Difference
      Home Price $227,600.00$184,700.0023.2%
      Avg. Mortgage Payment $3,476.17$2,346.6948.1%
      Apartment Rent $1,314.00$949.0038.5%

      Transportation

      Item Pompano Beach National avg. Difference
      Gasoline $3.43$3.460.9%
      Tire Balancing $63.46$59.925.9%

      Utilities

      Item Pompano Beach 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.
      Lauderdale Lakes, FL36,063973.2%
      Franklin Park, FL1,549981.7%
      Roosevelt Gardens, FL2,068991.0%
      Watergate, FL3,6581044.5%
      Lauderhill, FL71,8271044.5%
      Pompano Beach, FL111,20211110.5%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Downey, CA111,26316262.0%
      Lowell, MA111,31112827.6%
      Centennial, CO111,33114040.1%
      West Palm Beach, FL111,00611515.2%
      Antioch, CA111,46814746.8%
      Pompano Beach, FL111,20211110.5%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.