Sunny Isles Beach, Florida Cost Of Living

Buy Rent

F

Overall 24%

Goods & Services 3%

Housing 67%

Date & Last Updated: This data reflects 2022 and was released from C2ER in January, 2022; 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	Sunny Isles Beach	Florida	National
Cost of living	124	99	100
Goods & Services	103	98	100
Groceries	121	106	100
Health care	104	99	100
Housing	167	96	100
Transportation	102	99	100
Utilities	102	105	100

Key findings

The cost of living in Sunny Isles Beach is 25% higher than the Florida average
The cost of living in Sunny Isles Beach is 24% higher than the national average
Sunny Isles Beach housing is 67% 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	$54,873	$4,573	$1,280	$1,646
Renters	$47,348	$3,946	$1,105	$1,421

The affordability of the housing market in Sunny Isles Beach, FL as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Sunny Isles Beach homeowners, the median income is $54,873. This indicates that a monthly maximum of $1,280 should be spent by homeowners on all housing related costs. Renters have a median income of $47,348. This indicates that renters would have a maximum of $1,105 for their rent related monthly 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	Sunny Isles Beach	National avg.	Difference
Haircut	$17.96	$20.27	11.4%
Beauty Salon	$74.42	$40.39	84.2%
Toothpaste	$2.12	$2.36	10.1%
Shampoo	$1.23	$1.08	14.3%
Movie	$14.08	$10.99	28.2%
Bowling	$21.60	$15.49	39.4%

Groceries

Item	Sunny Isles Beach	National avg.	Difference
Ground Beef	$4.97	$4.30	15.6%
Fried Chicken	$1.79	$1.40	27.7%
Milk	$3.36	$2.20	52.7%
Potatoes	$3.78	$3.22	17.5%
Pizza	$9.87	$10.74	8.1%
Beer	$11.31	$9.60	17.8%

Health Care

Item	Sunny Isles Beach	National avg.	Difference
Optometrist	$116.43	$109.73	6.1%
Doctor	$116.25	$118.34	1.8%
Dentist	$105.00	$100.94	4.0%
Ibuprofen	$12.16	$9.93	22.4%
Lipitor	$464.54	$469.53	1.1%

Housing

Item	Sunny Isles Beach	National avg.	Difference
Home Price	$316,100.00	$184,700.00	71.1%
Avg. Mortgage Payment	$1,442.61	$1,229.62	17.3%
Apartment Rent	$1,499.00	$949.00	58.0%

Transportation

Item	Sunny Isles Beach	National avg.	Difference
Gasoline	$2.72	$2.71	0.3%
Tire Balancing	$54.29	$51.86	4.7%

Utilities

Item	Sunny Isles Beach	National avg.	Difference
All Electricity	$172.59	$170.84	1.0%
Phone	$191.55	$187.18	2.3%

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.
Fisher Island, FL	235	106	5.9%
Medley, FL	898	85	15.1%
Franklin Park, FL	1,039	93	7.3%
Pembroke Park, FL	6,259	93	7.3%
Opa-locka, FL	16,245	93	7.3%
Sunny Isles Beach, FL	21,937	124	24.3%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Oxford, OH	21,941	90	9.8%
West Carson, CA	21,929	139	38.8%
Pace, FL	21,922	96	4.0%
Del City, OK	21,962	81	18.6%
Lennox, CA	21,963	129	29.0%
Sunny Isles Beach, FL	21,937	124	24.3%

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