25 Most Expensive Cities To Live in Florida
You may be familiar with some Florida cities with the cost of living on the cheaper end but how well do you know The Sunshine State’s most expensive cities?
To uncover the priciest Florida cities to live in, GOBankingRates sourced the total population and median household income across Florida cities using the US Census American Community Survey. The average single-family home value for January 2024 was also included, along with calculations for the average mortgage cost. GOBankingRates then combined the average mortgage and monthly expenditure cost to determine the monthly cost of living.
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Ranked in ascending order with the top city having the highest total monthly costs, these are the 25 most expensive cities to live in Florida.
25. Surfside
Total population: 2,105
Median household income: $73,160
January 2024 average home value: $1,322,833
Expenditure monthly cost: $2,303
Average mortgage: $7,825
Total cost monthly: $10,128
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24. Sunny Isles Beach
Total population: 10,470
Median household income: $57,145
January 2024 average home value: $1,350,332
Expenditure monthly cost: $2,295
Average mortgage: $7,988
Total cost monthly: $10,283
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23. Holmes Beach
Total population: 1,590
Median household income: $94,545
January 2024 average home value: $1,465,127
Expenditure monthly cost: $1,692
Average mortgage: $8,667
Total cost monthly: $10,359
22. Marco Island
Total population: 8,276
Median household income: $105,315
January 2024 average home value: $1,501,725
Expenditure monthly cost: $1,627
Average mortgage: $8,883
Total cost monthly: $10,510
21. Siesta Key
Total population: 2,986
Median household income: $113,500
January 2024 average home value: $1,476,918
Expenditure monthly cost: $2,040
Average mortgage: $8,737
Total cost monthly: $10,776
20. Islamorada
Total population: 3,135
Median household income: $93,750
January 2024 average home value: $1,488,013
Expenditure monthly cost: $2,254
Average mortgage: $8,802
Total cost monthly: $11,056
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19. Longboat Key
Total population: 4,171
Median household income: $141,250
January 2024 average home value: $1,513,971
Expenditure monthly cost: $2,164
Average mortgage: $8,956
Total cost monthly: $11,119
18. Indian River Shores
Total population: 2,271
Median household income: $153,242
January 2024 average home value: $1,864,758
Expenditure monthly cost: $1,656
Average mortgage: $11,031
Total cost monthly: $12,687
17. Coral Gables
Total population: 18,947
Median household income: $118,203
January 2024 average home value: $1,807,073
Expenditure monthly cost: $2,261
Average mortgage: $10,689
Total cost monthly: $12,951
16. Highland Beach
Total population: 2,325
Median household income: $140,045
January 2024 average home value: $2,023,784
Expenditure monthly cost: $2,215
Average mortgage: $11,971
Total cost monthly: $14,187
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15. Pinecrest
Total population: 5,966
Median household income: $178,095
January 2024 average home value: $2,126,375
Expenditure monthly cost: $2,322
Average mortgage: $12,578
Total cost monthly: $14,900
14. Sea Ranch Lakes
Total population: 172
Median household income: $238,750
January 2024 average home value: $2,274,397
Expenditure monthly cost: $1,831
Average mortgage: $13,454
Total cost monthly: $15,285
13. Anna Maria
Total population: 486
Median household income: $93,478
January 2024 average home value: $2,296,472
Expenditure monthly cost: $2,090
Average mortgage: $13,584
Total cost monthly: $15,675
12. Bay Harbor Islands
Total population: 2,208
Median household income: $73,587
January 2024 average home value: $2,285,578
Expenditure monthly cost: $2,319
Average mortgage: $13,520
Total cost monthly: $15,839
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11. Miami Beach
Total population: 41,711
Median household income: $65,116
January 2024 average home value: $2,393,930
Expenditure monthly cost: $1,875
Average mortgage: $14,161
Total cost monthly: $16,036
10. Ocean Ridge
Total population: 891
Median household income: $107,813
January 2024 average home value: $2,412,401
Expenditure monthly cost: $1,813
Average mortgage: $14,270
Total cost monthly: $16,084
9. Golf
Total population: 127
Median household income: $250,000
January 2024 average home value: $2,814,997
Expenditure monthly cost: $1,838
Average mortgage: $16,652
Total cost monthly: $18,490
8. Jupiter Inlet Colony
Total population: 192
Median household income: $135,000
January 2024 average home value: $3,550,777
Expenditure monthly cost: $1,855
Average mortgage: $21,004
Total cost monthly: $22,859
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7. Key Biscayne
Total population: 4,658
Median household income: $173,015
January 2024 average home value: $3,738,140
Expenditure monthly cost: $2,303
Average mortgage: $22,112
Total cost monthly: $24,415
6. Gulf Stream
Total population: 392
Median household income: $227,500
January 2024 average home value: $5,082,738
Expenditure monthly cost: $1,876
Average mortgage: $30,066
Total cost monthly: $31,942
5. Bal Harbour
Total population: 1,325
Median household income: $86,172
January 2024 average home value: $5,630,660
Expenditure monthly cost: $2,314
Average mortgage: $33,307
Total cost monthly: $35,622
4. Manalapan
Total population: 162
Median household income: $162,000
January 2024 average home value: $6,889,526
Expenditure monthly cost: $1,834
Average mortgage: $40,754
Total cost monthly: $42,589
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3. Golden Beach
Total population: 179
Median household income: $250,000
January 2024 average home value: $6,982,434
Expenditure monthly cost: $1,958
Average mortgage: $41,304
Total cost monthly: $43,261
2. Jupiter Island
Total population: 342
Median household income: $235,500
January 2024 average home value: $9,708,076
Expenditure monthly cost: $1,646
Average mortgage: $57,427
Total cost monthly: $59,073
1. Palm Beach
Total population: 5,370
Median household income: $190,824
January 2024 average home value: $11,165,407
Expenditure monthly cost: $2,237
Average mortgage: $66,047
Total cost monthly: $68,284
Photo disclaimer: Photos are for illustrative purposes only. In many cases, the closest major city outside of the city/county mentioned in the article was used.
Methodology: For this study, GOBankingRates analyzed cities across Florida to find the most expensive cities to live. First GOBankingRates found the total population and median household income both sourced from the US Census American Community Survey. Next GOBankingRates found the average single family home value for January 2024 as sourced from the Zillow Home Value Index. Assuming a 10% down payment and using the 30 year national average fixed rate mortgage, as sourced from the Federal Reserve Economic Data, the average mortgage can be calculated. By combining the average mortgage and monthly expenditure cost, the monthly cost of living can be calculated. The cities are sorted to show the most expensive to least expensive cities in Florida. All data was collected and is up-to-date as-of April 19, 2024.
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This article originally appeared on GOBankingRates.com: 25 Most Expensive Cities To Live in Florida
