Margate, FL Cost Of Living
Cost Of Living In Margate, FL Summary
Cost of living in Margate research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Margate is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Florida, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Margate is 98, with 100 being the average.
The cost of living index in Margate is 1.0x lower than the national average.
Margate ranks as the #218 cheapest in Florida out of 459.
Margate ranks as the #2,890 cheapest out of 6,412 in the US.
The median home value in Margate is $230,900.
The median income in Margate is $52,881.
Table Of Contents
Margate's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Margate, FL?
According to the most recent data on the cost of living, Margate has an overall cost of living index of 98, which is 1.0x lower than the national index of 100.
Compared to Florida, Margate has a cost of living index that's 1.0x lower than Florida's index of 101.
The standard of living in Margate ranks as #218 most affordable out of the 459 places we measured in Florida. By definition, that implies Margate ranks as the #241 most expensive place in the Sunshine State.
For more reading on life in Margate, check out:
- Living In Margate
- Margate Crime Report
- Search Homes For Sale In Margate, FL
In Florida
In America
Margate Cost Of Living Vs. Florida
Six factors go into calculating the cost of living index in Margate. Here is how it fairs on each of the criteria:
The Services index in Margate is 100.
The Groceries index in Margate is 118.
The Health index in Margate is 102.
The Housing index in Margate is 87.
The Transportation index in Margate is 108.
The Utilities index in Margate is 100.
| Living Expense | Margate | Florida | National Average | |
|---|---|---|---|---|
| Overall | 98 | 101 | 100 | |
| Services | 100 | 98 | 100 | |
| Groceries | 118 | 101 | 100 | |
| Health | 102 | 96 | 100 | |
| Housing | 87 | 108 | 100 | |
| Transportation | 108 | 98 | 100 | |
| Utilities | 100 | 100 | 100 | |
Margate, FL Housing Cost Breakdown
Housing swings affordability the most between places in Florida, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Margate is $230,900.
The Median Rent in Margate is $1,416.
The Median Income in Margate is $52,881.
The Home Value To Income in Margate is 4.4x.
The Rent To Monthly Income in Margate is 0.32x.
| Statistic | Margate | Florida | United States |
|---|---|---|---|
| Median Home Value | $230,900 | $248,700 | $244,900 |
| Median Rent | $1,416 | $1,301 | $1,163 |
| Median Income | $52,881 | $61,777 | $69,021 |
| Home Value To Income | 4.4x | 4.0x | 3.5x |
| Rent To Monthly Income | 0.32x | 0.25x | 0.2x |
Median Home Value
Median Rent
Median Income
Margate, FL Costs By Category
Detailed Margate Services Costs Vs. Florida
Detailed Margate Groceries Costs Vs. Florida
Detailed Margate Health Costs Vs. Florida
Detailed Margate Transportation Costs Vs. Florida
Detailed Margate Utilities Costs Vs. Florida
Margate SnackAbility
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Cost Of Living In Cities Around Margate
The cost of living varies in the cities and towns around Margate. Here's a quick look at the cost of living in the most populous nearby places:
Pembroke Pines, FL has a cost of living index of 113, 1.2x Margate.
Coral Springs, FL has a cost of living index of 121, 1.2x Margate.
Pompano Beach, FL has a cost of living index of 100, 1.0x Margate.
| City | Population | Cost Of Living | Vs. Margate |
|---|---|---|---|
| Pembroke Pines, FL | 170,346 | 113 | 1.2x |
| Coral Springs, FL | 133,693 | 121 | 1.2x |
| Pompano Beach, FL | 111,423 | 100 | 1.0x |
| Davie, FL | 104,782 | 111 | 1.1x |
| Boca Raton, FL | 95,347 | 128 | 1.3x |
| Lauderhill, FL | 73,935 | 96 | 1.0x |
| Tamarac, FL | 71,140 | 100 | 1.0x |
| Weston, FL | 68,148 | 137 | 1.4x |
| Coconut Creek, FL | 57,553 | 103 | 1.1x |
| North Lauderdale, FL | 44,579 | 96 | 1.0x |
