With its near perfect weather, top-notch beaches, and world-renowned theme parks, living in the Sunshine State is worth every penny. But which places in Florida are the most expensive to live in?
It turns out that the priciest places in Florida are in one of two places: the Florida Keys and around Miami. If you’re willing to break the bank for a year-round tropical vibe, head to Key West or Marathon. For those who are more interested in a vibrant community with out-of-this-world Cuban cuisine, stick to the Magic City and it’s surrounding cities. In either case, you’re paying a premium to live near some of the country’s best beaches. Hey, Florida is already one of America’s most expensive states, so why not pay a little extra to really live the high life?
How much money should you earn to live comfortably in one of the most expensive cities in Florida? The data shows that you need to earn at least $73,160/year to live in these highly desirable locations. Florida is home to about 10% of the Forbes 400 wealthiest list, so it should come as no surprise that you need a hefty salary to compete. To live in these cities, you’ll have to pay a higher proportion of your salary on housing, and considering Florida has one of the highest average rents in America, you may want to earn even more to cover that expense.
If you’re ready to brave hurricanes and alligators, and pay a high price for the privilege, read on to find out the most expensive places to live in Florida.
Table Of Contents: Top Ten | Methodology | Summary | Table
The 10 Most Expensive Places To Live In Florida For 2024
What’s the most expensive place to live in Florida? Well, HomeSnacks crunched the numbers and discovered that Key Biscayne is the most expensive place to live in Florida.
Palatka (the cheapest place to live in Florida) can show these guys how to live on a budget in the coming years. Read on for how these places had costs rise faster than inflation.
And if you already knew these places were expensive, check out some more reading about Florida and the most expensive cities in the country:
The 10 Most Expensive Places To Live In Florida For 2024
/10
Population: 14,572
Cost Of Living Index: 217
Median Income: $173,015
Average Home Price: $1,568,763
Home Price To Income Ratio: 9.1x
More on Key Biscayne: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Key Biscayne is 217. The median income in Key Biscayne comes in at $173,015 and the average home value is $1,568,763 for 2024.
/10
Population: 9,205
Cost Of Living Index: 196
Median Income: $190,824
Average Home Price: $1,976,941
Home Price To Income Ratio: 10.4x
More on Palm Beach: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Palm Beach is 196. The median income in Palm Beach comes in at $190,824 and the average home value is $1,976,941 for 2024.
/10
Population: 18,279
Cost Of Living Index: 186
Median Income: $178,095
Average Home Price: $1,909,075
Home Price To Income Ratio: 10.7x
More on Pinecrest: Data | Cost Of Living | Real Estate
The overall cost of living in Pinecrest is 186. The median income in Pinecrest comes in at $178,095 and the average home value is $1,909,075 for 2024.
/10
Population: 19,315
Cost Of Living Index: 172
Median Income: $135,657
Average Home Price: $596,178
Home Price To Income Ratio: 4.4x
More on Naples: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Naples is 172. The median income in Naples comes in at $135,657 and the average home value is $596,178 for 2024.
/10
Population: 7,589
Cost Of Living Index: 168
Median Income: $165,556
Average Home Price: $1,256,520
Home Price To Income Ratio: 7.6x
More on Southwest Ranches: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Southwest Ranches is 168. The median income in Southwest Ranches comes in at $165,556 and the average home value is $1,256,520 for 2024.
/10
Population: 49,696
Cost Of Living Index: 167
Median Income: $118,203
Average Home Price: $1,354,428
Home Price To Income Ratio: 11.5x
More on Coral Gables: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Coral Gables is 167. The median income in Coral Gables comes in at $118,203 and the average home value is $1,354,428 for 2024.
/10
Population: 6,420
Cost Of Living Index: 165
Median Income: $111,683
Average Home Price: $1,000,285
Home Price To Income Ratio: 9.0x
More on Sanibel: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Sanibel is 165. The median income in Sanibel comes in at $111,683 and the average home value is $1,000,285 for 2024.
/10
Population: 5,625
Cost Of Living Index: 161
Median Income: $73,160
Average Home Price: $1,161,290
Home Price To Income Ratio: 15.9x
More on Surfside: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Surfside is 161. The median income in Surfside comes in at $73,160 and the average home value is $1,161,290 for 2024.
/10
Population: 34,832
Cost Of Living Index: 157
Median Income: $188,544
Average Home Price: $1,077,923
Home Price To Income Ratio: 5.7x
More on Parkland: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Parkland is 157. The median income in Parkland comes in at $188,544 and the average home value is $1,077,923 for 2024.
/10
Population: 7,479
Cost Of Living Index: 157
Median Income: $141,250
Average Home Price: $1,105,402
Home Price To Income Ratio: 7.8x
More on Longboat Key: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Longboat Key is 157. The median income in Longboat Key comes in at $141,250 and the average home value is $1,105,402 for 2024.
Methodology: How We Determined The Most Expensive Places To Live In The Sunshine State For 2024
The two most important things to think about when it comes to being able to afford a city in Florida are:
- How much money do I make?
- How much do I have to spend to live there?
You need to understand your costs in the context of how much money you make.
For example, if the median household earns $100,000 and spends $40,000 on housing, it’s actually cheaper to live there than a place with a median income of $50,000 and housing costs of $21,000. You might spend more on housing, but you have more money overall to play with.
With that example in mind, we derived several statistics from the latest Census American Community Survey 2018-2022 around incomes and costs. They are:
- Overall Cost Of Living Index
- Median Home Price / Median Income (lower is better)
- Median Income / Median Rent (Higher is better)
- Median Home Price
You can then compare these metrics in each of the places in Florida to figure out which is the most expensive.
You are left with a “Cost of Living Index” by taking the average rank of each of these metrics for each city.
So we used that cost of living index to rank all of the 220 places in Florida that have more than 5,000 people.
The place with the highest cost of living in Florida according to the data is Key Biscayne. We updated this article for 2024. This article is our tenth time ranking the most expensive places to live in Florida.
Summary: Taking A Chunk Out Of Your Paycheck In Florida For 2024
Well, there you have it, the places in Florida that have the highest cost of living, with Key Biscayne ranking as the most expensive city in the Sunshine State.
The most expensive cities in Florida are Key Biscayne, Palm Beach, Pinecrest, Naples, Southwest Ranches, Coral Gables, Sanibel, Surfside, Parkland, and Longboat Key.
Here’s a look at the most affordable cities in Florida according to the data:
- Palatka
- Belleview
- Perry
For more Florida reading, check out:
- Best Places To Live In Florida
- Cheapest Places To Live In Florida
- Most Dangerous Places In Florida
- Best Places To Raise A Family In Florida
- Safest Places In Florida
- Worst Places To Live In Florida
Most Expensive Cities In Florida
| Rank | City | Cost Of Living | Population | Median Income | Average Home Price | Home/Income Ratio |
|---|---|---|---|---|---|---|
| 1 | Key Biscayne | 217 | 14,572 | $173,015 | $1,568,763 | 9.1x |
| 2 | Palm Beach | 196 | 9,205 | $190,824 | $1,976,941 | 10.4x |
| 3 | Pinecrest | 186 | 18,279 | $178,095 | $1,909,075 | 10.7x |
| 4 | Naples | 172 | 19,315 | $135,657 | $596,178 | 4.4x |
| 5 | Southwest Ranches | 168 | 7,589 | $165,556 | $1,256,520 | 7.6x |
| 6 | Coral Gables | 167 | 49,696 | $118,203 | $1,354,428 | 11.5x |
| 7 | Sanibel | 165 | 6,420 | $111,683 | $1,000,285 | 9.0x |
| 8 | Surfside | 161 | 5,625 | $73,160 | $1,161,290 | 15.9x |
| 9 | Parkland | 157 | 34,832 | $188,544 | $1,077,923 | 5.7x |
| 10 | Longboat Key | 157 | 7,479 | $141,250 | $1,105,402 | 7.8x |
| 11 | Key West | 145 | 26,078 | $80,828 | $1,074,326 | 13.3x |
| 12 | Weston | 142 | 68,029 | $132,832 | $717,713 | 5.4x |
| 13 | Marco Island | 142 | 15,942 | $105,315 | $903,039 | 8.6x |
| 14 | Miami Shores | 142 | 11,638 | $120,833 | $1,025,122 | 8.5x |
| 15 | Palmetto Bay | 141 | 24,267 | $144,987 | $962,359 | 6.6x |
| 16 | Miami Beach | 134 | 82,400 | $65,116 | $525,643 | 8.1x |
| 17 | Boca Raton | 133 | 97,980 | $95,570 | $574,246 | 6.0x |
| 18 | Doral | 133 | 74,891 | $83,823 | $534,476 | 6.4x |
| 19 | Lighthouse Point | 132 | 10,496 | $86,586 | $777,160 | 9.0x |
| 20 | South Miami | 131 | 11,944 | $78,830 | $897,891 | 11.4x |
| 21 | Lauderdale-by-the-Sea | 131 | 6,202 | $76,855 | $649,632 | 8.5x |
| 22 | Cooper City | 130 | 34,046 | $119,567 | $657,515 | 5.5x |
| 23 | Miami Lakes | 129 | 30,621 | $90,339 | $630,644 | 7.0x |
| 24 | Wellington | 128 | 61,373 | $105,848 | $666,198 | 6.3x |
| 25 | Sunny Isles Beach | 128 | 22,202 | $57,145 | $701,954 | 12.3x |
| 26 | Marathon | 127 | 9,789 | $70,313 | $894,086 | 12.7x |
| 27 | Palm Beach Gardens | 126 | 59,088 | $106,544 | $658,967 | 6.2x |
| 28 | Bay Harbor Islands | 126 | 5,843 | $73,587 | $608,277 | 8.3x |
| 29 | Aventura | 124 | 39,621 | $75,211 | $510,079 | 6.8x |
| 30 | Gulf Breeze | 124 | 6,372 | $107,202 | $481,295 | 4.5x |
| 31 | Fort Myers Beach | 124 | 5,650 | $87,204 | $623,652 | 7.2x |
| 32 | Winter Park | 122 | 29,985 | $96,563 | $449,047 | 4.7x |
| 33 | Plantation | 121 | 93,130 | $83,074 | $503,508 | 6.1x |
| 34 | Treasure Island | 121 | 6,590 | $87,941 | $634,262 | 7.2x |
| 35 | Coral Springs | 120 | 133,801 | $87,488 | $536,819 | 6.1x |
| 36 | St. Pete Beach | 120 | 8,905 | $112,578 | $715,388 | 6.4x |
| 37 | Lake Mary | 119 | 16,636 | $106,971 | $466,468 | 4.4x |
| 38 | Miami Springs | 119 | 13,729 | $88,196 | $678,387 | 7.7x |
| 39 | North Bay Village | 119 | 8,024 | $76,815 | $418,552 | 5.4x |
| 40 | Fort Lauderdale | 118 | 182,673 | $75,376 | $534,210 | 7.1x |
| 41 | Jupiter | 118 | 60,926 | $105,413 | $690,094 | 6.5x |
| 42 | Maitland | 118 | 19,266 | $89,871 | $459,687 | 5.1x |
| 43 | Tequesta | 118 | 6,116 | $92,457 | $661,607 | 7.2x |
| 44 | North Palm Beach | 117 | 13,092 | $89,175 | $570,128 | 6.4x |
| 45 | Wilton Manors | 116 | 11,451 | $81,424 | $603,112 | 7.4x |
| 46 | Punta Gorda | 115 | 19,605 | $75,898 | $410,177 | 5.4x |
| 47 | West Miami | 115 | 7,104 | $73,525 | $620,895 | 8.4x |
| 48 | Belle Isle | 115 | 7,020 | $111,836 | $513,455 | 4.6x |
| 49 | St. Augustine Beach | 115 | 6,774 | $87,019 | $604,317 | 6.9x |
| 50 | Miami | 114 | 443,665 | $54,858 | $569,425 | 10.4x |
| 51 | Miramar | 114 | 135,158 | $81,812 | $506,754 | 6.2x |
| 52 | Cutler Bay | 114 | 44,738 | $78,569 | $531,378 | 6.8x |
| 53 | Royal Palm Beach | 114 | 38,874 | $90,143 | $485,720 | 5.4x |
| 54 | Atlantic Beach | 114 | 13,381 | $99,628 | $658,924 | 6.6x |
| 55 | Neptune Beach | 114 | 6,743 | $109,375 | $706,435 | 6.5x |
| 56 | Pembroke Pines | 113 | 170,472 | $77,657 | $485,196 | 6.2x |
| 57 | Davie | 113 | 105,821 | $84,346 | $517,729 | 6.1x |
| 58 | Oviedo | 113 | 39,552 | $116,764 | $497,890 | 4.3x |
| 59 | Cocoa Beach | 113 | 11,334 | $80,880 | $497,607 | 6.2x |
| 60 | Bonita Springs | 112 | 53,945 | $84,668 | $592,429 | 7.0x |
| 61 | Destin | 112 | 13,923 | $86,777 | $635,124 | 7.3x |
| 62 | Jacksonville Beach | 110 | 23,583 | $109,649 | $611,639 | 5.6x |
| 63 | Delray Beach | 109 | 66,646 | $76,558 | $358,548 | 4.7x |
| 64 | Winter Garden | 109 | 46,518 | $101,953 | $572,785 | 5.6x |
| 65 | Fernandina Beach | 109 | 13,028 | $86,494 | $601,790 | 7.0x |
| 66 | Daytona Beach Shores | 109 | 5,087 | $65,334 | $433,976 | 6.6x |
| 67 | Safety Harbor | 108 | 17,087 | $102,670 | $519,382 | 5.1x |
| 68 | Satellite Beach | 108 | 11,176 | $103,819 | $538,965 | 5.2x |
| 69 | Indian Harbour Beach | 108 | 8,944 | $78,774 | $490,200 | 6.2x |
| 70 | West Palm Beach | 107 | 117,588 | $64,044 | $417,563 | 6.5x |
| 71 | Dania Beach | 107 | 31,700 | $46,330 | $373,346 | 8.1x |
| 72 | Sunrise | 106 | 96,510 | $66,001 | $372,339 | 5.6x |
| 73 | North Miami | 106 | 59,854 | $49,069 | $401,072 | 8.2x |
| 74 | Winter Springs | 106 | 38,205 | $83,732 | $427,030 | 5.1x |
| 75 | Hollywood | 105 | 152,764 | $61,958 | $452,509 | 7.3x |
| 76 | Homestead | 105 | 79,996 | $57,739 | $423,264 | 7.3x |
| 77 | Clermont | 105 | 43,266 | $75,951 | $424,952 | 5.6x |
| 78 | Hallandale Beach | 105 | 41,102 | $45,417 | $328,630 | 7.2x |
| 79 | Coconut Creek | 104 | 57,574 | $72,740 | $325,475 | 4.5x |
| 80 | Ocoee | 104 | 47,290 | $88,828 | $417,918 | 4.7x |
| 81 | North Miami Beach | 104 | 43,269 | $56,122 | $452,270 | 8.1x |
| 82 | Hialeah Gardens | 104 | 22,815 | $58,497 | $415,761 | 7.1x |
| 83 | Mount Dora | 104 | 16,330 | $65,774 | $383,778 | 5.8x |
| 84 | Flagler Beach | 104 | 5,100 | $64,242 | $501,044 | 7.8x |
| 85 | Hialeah | 103 | 222,996 | $49,531 | $445,753 | 9.0x |
| 86 | Cape Coral | 103 | 198,912 | $72,474 | $394,398 | 5.4x |
| 87 | Pompano Beach | 103 | 111,790 | $61,155 | $363,916 | 6.0x |
| 88 | Boynton Beach | 103 | 80,068 | $68,875 | $421,925 | 6.1x |
| 89 | Tamarac | 103 | 71,578 | $59,140 | $317,289 | 5.4x |
| 90 | Venice | 103 | 25,710 | $68,843 | $449,500 | 6.5x |
| 91 | Lantana | 103 | 11,703 | $67,009 | $412,266 | 6.2x |
| 92 | Miami Gardens | 102 | 111,618 | $56,071 | $440,066 | 7.8x |
| 93 | Sarasota | 102 | 55,508 | $68,870 | $462,175 | 6.7x |
| 94 | Apopka | 102 | 55,056 | $87,394 | $392,939 | 4.5x |
| 95 | Oakland Park | 102 | 44,056 | $64,989 | $380,204 | 5.9x |
| 96 | Riviera Beach | 102 | 37,668 | $57,851 | $398,076 | 6.9x |
| 97 | New Smyrna Beach | 102 | 30,449 | $73,096 | $476,677 | 6.5x |
| 98 | West Melbourne | 102 | 26,762 | $86,398 | $410,923 | 4.8x |
| 99 | Niceville | 102 | 15,804 | $92,345 | $436,865 | 4.7x |
| 100 | St. Augustine | 102 | 14,642 | $72,806 | $456,760 | 6.3x |