Melbourne, FL Cost Of Living
Cost Of Living In Melbourne, FL Summary
Cost of living in Melbourne 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 Melbourne 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 Melbourne is 93, with 100 being the average.
The cost of living index in Melbourne is 0.9x lower than the national average.
Melbourne ranks as the #128 cheapest in Florida out of 459.
Melbourne ranks as the #2,137 cheapest out of 6,412 in the US.
The median home value in Melbourne is $200,900.
The median income in Melbourne is $55,543.
Table Of Contents
Melbourne's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Melbourne, FL?
According to the most recent data on the cost of living, Melbourne has an overall cost of living index of 93, which is 0.9x lower than the national index of 100.
Compared to Florida, Melbourne has a cost of living index that's 0.9x lower than Florida's index of 101.
The standard of living in Melbourne ranks as #128 most affordable out of the 459 places we measured in Florida. By definition, that implies Melbourne ranks as the #331 most expensive place in the Sunshine State.
For more reading on life in Melbourne, check out:
- Living In Melbourne
- Melbourne Crime Report
- Search Homes For Sale In Melbourne, FL
In Florida
In America
Melbourne Cost Of Living Vs. Florida
Six factors go into calculating the cost of living index in Melbourne. Here is how it fairs on each of the criteria:
The Services index in Melbourne is 98.
The Groceries index in Melbourne is 101.
The Health index in Melbourne is 113.
The Housing index in Melbourne is 73.
The Transportation index in Melbourne is 100.
The Utilities index in Melbourne is 116.
| Living Expense | Melbourne | Florida | National Average | |
|---|---|---|---|---|
| Overall | 93 | 101 | 100 | |
| Services | 98 | 98 | 100 | |
| Groceries | 101 | 101 | 100 | |
| Health | 113 | 96 | 100 | |
| Housing | 73 | 108 | 100 | |
| Transportation | 100 | 98 | 100 | |
| Utilities | 116 | 100 | 100 | |
Melbourne, 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 Melbourne is $200,900.
The Median Rent in Melbourne is $1,159.
The Median Income in Melbourne is $55,543.
The Home Value To Income in Melbourne is 3.6x.
The Rent To Monthly Income in Melbourne is 0.25x.
| Statistic | Melbourne | Florida | United States |
|---|---|---|---|
| Median Home Value | $200,900 | $248,700 | $244,900 |
| Median Rent | $1,159 | $1,301 | $1,163 |
| Median Income | $55,543 | $61,777 | $69,021 |
| Home Value To Income | 3.6x | 4.0x | 3.5x |
| Rent To Monthly Income | 0.25x | 0.25x | 0.2x |
Median Home Value
Median Rent
Median Income
Melbourne, FL Costs By Category
Detailed Melbourne Services Costs Vs. Florida
Detailed Melbourne Groceries Costs Vs. Florida
Detailed Melbourne Health Costs Vs. Florida
Detailed Melbourne Transportation Costs Vs. Florida
Detailed Melbourne Utilities Costs Vs. Florida
Melbourne SnackAbility
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Cost Of Living In Cities Around Melbourne
The cost of living varies in the cities and towns around Melbourne. Here's a quick look at the cost of living in the most populous nearby places:
Palm Bay, FL has a cost of living index of 95, 1.0x Melbourne.
Merritt Island, FL has a cost of living index of 100, 1.1x Melbourne.
Rockledge, FL has a cost of living index of 96, 1.0x Melbourne.
| City | Population | Cost Of Living | Vs. Melbourne |
|---|---|---|---|
| Palm Bay, FL | 118,709 | 95 | 1.0x |
| Merritt Island, FL | 34,013 | 100 | 1.1x |
| Rockledge, FL | 27,466 | 96 | 1.0x |
| West Melbourne, FL | 25,768 | 105 | 1.1x |
| Cocoa, FL | 18,891 | 86 | 0.9x |
| Viera East, FL | 12,020 | 102 | 1.1x |
| Cocoa Beach, FL | 11,316 | 110 | 1.2x |
| Satellite Beach, FL | 11,093 | 113 | 1.2x |
| Indian Harbour Beach, FL | 8,888 | 109 | 1.2x |
| South Patrick Shores, FL | 7,053 | 110 | 1.2x |
