C+
15%
Overall NAT. AVG.
5%
Goods & Services NAT. AVG.
43%
Housing NAT. AVG.
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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 West Palm Beach Florida National
Cost of living11598100
Goods & Services10598100
Groceries10499100
Health care9396100
Housing14396100
Transportation10199100
Utilities10397100

An Overview of Cost of Living in West Palm Beach, FL

Are you thinking about relocating, but curious about the potential cost of living in West Palm Beach? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in West Palm Beach stands at 115, making it 15% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

Housing costs are a very significant part of the West Palm Beach cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 43.5% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.

Is West Palm Beach Affordable?

Is West Palm Beach affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in West Palm Beach, the median home price is 42.6% higher than the national average and monthly rent prices are 45.5% higher than the typical rates. Additionally, the median income levels play a role in affordability, with West Palm Beach boasting a median household income of $54,603, 1.3% lower than the national average.

What Factors can Influence the Cost of Living in West Palm Beach?

Subsidies: Certain cities or states may implement government subsidies or assistance programs with the goal of alleviating the cost of living pressures on their residents. These programs encompass a broad spectrum of support mechanisms, 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 farming subsidies. Areas offering fewer subsidies may experience a rise in their cost of living.

Groceries: Over the past 2-3 years, grocery expenses have experienced substantial upward trends. In certain markets, food prices have surged by over 20% during this period, while others have witnessed more modest increases. These fluctuations in food costs can wield significant influence over the overall cost of living in a given region. In West Palm Beach, the groceries index is 4.3% higher than the national average.

Healthcare: The costs associated with healthcare and insurance premiums can exhibit notable disparities based on the city or state of residence. Access to healthcare facilities, out-of-pocket expenses for medical appointments, dental care charges, prescription medication costs and specialized medical care expenses all contribute to variations in the cost of living. In West Palm Beach, healthcare costs are 6.6% lower than the national average.

Where is the Data From?

The West Palm Beach cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in West Palm Beach is 18% higher than the Florida average
  • The cost of living in West Palm Beach is 15% higher than the national average
  • West Palm Beach housing is 43% 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 West Palm Beach

See all the best places to live around West Palm Beach

Compare West Palm Beach, FL Cost of Living

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      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$75,057$6,255$1,751$2,252
      Renters$43,044$3,587$1,004$1,291
      A good indicator of the general affordability of housing in West Palm Beach, FL, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In West Palm Beach, the median monthly income is $75,057 for those who own their own homes. Under the standard rule, that income level would allow for $1,751 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $43,044, per the median income in the area. That would allow for renters to spend up to $1,004 on monthly rental expenses.

      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 West Palm 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 West Palm 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 West Palm 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 West Palm Beach National avg. Difference
      Home Price $263,400.00$184,700.0042.6%
      Avg. Mortgage Payment $3,476.17$2,346.6948.1%
      Apartment Rent $1,381.00$949.0045.5%

      Transportation

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

      Utilities

      Item West Palm 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.
      Plantation Mobile Home Park, FL1,6538713.1%
      Mangonia Park, FL2,228973.0%
      Lake Worth, FL36,838981.6%
      San Castle, FL4,0611010.5%
      Royal Palm Estates, FL1,6151011.1%
      West Palm Beach, FL111,00611515.2%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Everett, WA110,84013433.5%
      Pompano Beach, FL111,20211110.5%
      Miami Gardens, FL110,76711010.0%
      Downey, CA111,26316262.0%
      Lowell, MA111,31112827.6%
      West Palm Beach, FL111,00611515.2%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.