West Melbourne, FL Cost Of Living

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West Melbourne cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
Index	West Melbourne	Florida	National
Cost of living index	104	99	100
Index	West Melbourne	Florida	National
Goods & Services index	104	99	100
Groceries index	104	105	100
Health care index	110	100	100
Housing index	102	96	100
Transportation index	100	98	100
Utilities index	115	102	100

Here we can see a simple outline of the cost of living in West Melbourne, FL. As you can see, with the average cost of living in West Melbourne, FL being 104, that puts it 5% higher than the average of Florida and 4% higher than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of West Melbourne, FL, the price of goods and services are 5% higher than the average of Florida as well as 4% higher than the nation's average.

Did you know?

The cost of living in West Melbourne is 5% higher than the Florida average.
The cost of living in West Melbourne is 4% higher than the national average.
The cost of housing in West Melbourne is 2% 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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Salary Calculator

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Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Using the salary calculator lets you compare the salary you earn in West Melbourne, FL to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in West Melbourne, FL, you have to earn a higher income in order to still have the same standard of living. To operate the West Melbourne, FL salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$65,575	$5,465	$1,530	$1,967
Renters	$49,023	$4,085	$1,144	$1,471

The affordability of the housing market in West Melbourne, FL as well as the overall cost of living can be indicated accurately 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 ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among West Melbourne, FL homeowners, the median income is $65,575. This indicates that a monthly maximum of $1,530 should be spent by homeowners on all housing related costs. Renters have a median income of $49,023. This indicates that renters should have a maximum of $1,144 used 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%

For those who live in West Melbourne, FL and want to know what the true cost of living is, they ought to look at both the Florida income tax rate and the Florida sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Florida, the sales tax is 6%, while the most you'll pay in surtax is 7.5%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Florida, the income tax rate ranges between 0% to 0%.

Goods & Services

Item	West Melbourne	National avg.	Difference
Haircut	$16.67	$17.49	4.7%
Beauty Salon	$43.33	$38.17	13.5%
Toothpaste	$2.51	$2.32	8.1%
Shampoo	$0.90	$1.01	11.1%
Movie	$6.21	$10.72	42.1%
Bowling	$17.33	$13.86	25.0%

Groceries

Item	West Melbourne	National avg.	Difference
Ground Beef	$4.29	$3.90	10.0%
Fried Chicken	$1.33	$1.40	4.7%
Milk	$2.71	$1.96	38.1%
Potatoes	$3.68	$3.18	15.6%
Pizza	$9.99	$10.39	3.9%
Beer	$10.09	$9.23	9.3%

Health Care

Item	West Melbourne	National avg.	Difference
Optometrist	$164.33	$106.34	54.5%
Doctor	$130.00	$115.25	12.8%
Dentist	$101.75	$98.38	3.4%
Ibuprofen	$10.29	$9.26	11.1%
Lipitor	$498.56	$466.47	6.9%

Housing

Item	West Melbourne	National avg.	Difference
Home Price	$173,900.00	$184,700.00	5.8%
Avg. Mortgage Payment	$1,027.86	$1,273.32	19.3%
Apartment Rent	$1,140.00	$949.00	20.1%

Transportation

Item	West Melbourne	National avg.	Difference
Gasoline	$2.56	$2.59	1.4%
Tire Balancing	$51.25	$48.90	4.8%

Utilities

Item	West Melbourne	National avg.	Difference
All Electricity	$208.89	$167.60	24.6%
Phone	$185.34	$163.42	13.4%

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.

City, State	Population	Cost of Living Index	National Avg.
Micco, FL	8,377	89	-11%
Palm Bay, FL	106,573	95	-5%
Melbourne, FL	78,911	96	-4%
Melbourne Village, FL	769	102	2%
June Park, FL	4,209	104	4%
West Melbourne, FL	20,207	104	4%

City, State	Population	Cost of Living Index	National Avg.
Rocky River, OH	20,211	104	4%
Cameron Park, CA	20,201	131	31%
Sulphur, LA	20,198	86	-14%
Selden, NY	20,226	132	32%
Simpsonville, SC	20,183	97	-3%
West Melbourne, FL	20,207	104	4%

West Melbourne, FL Cost of Living