Bay Harbor Islands, FL Cost Of Living
Cost Of Living In Bay Harbor Islands, FL Summary
Cost of living in Bay Harbor Islands 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 Bay Harbor Islands 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 Bay Harbor Islands is 141, with 100 being the average.
The cost of living index in Bay Harbor Islands is 1.4x higher than the national average.
Bay Harbor Islands ranks as the #434 cheapest in Florida out of 459.
Bay Harbor Islands ranks as the #5,438 cheapest out of 6,489 in the US.
The median home value in Bay Harbor Islands is $639,212.
The median income in Bay Harbor Islands is $84,750.
Table Of Contents
Bay Harbor Islands's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Bay Harbor Islands, FL?
According to the most recent data on the cost of living, Bay Harbor Islands has an overall cost of living index of 141, which is 1.4x higher than the national index of 100.
Compared to Florida, Bay Harbor Islands has a cost of living index that's 1.5x higher than Florida's index of 97.
The standard of living in Bay Harbor Islands ranks as #434 most affordable out of the 459 places we measured in Florida. By definition, that implies Bay Harbor Islands ranks as the #25 most expensive place in the Sunshine State.
For more reading on life in Bay Harbor Islands, check out:
In Florida
In America
Bay Harbor Islands Cost Of Living Vs. Florida
Six factors go into calculating the cost of living index in Bay Harbor Islands. Here is how it fairs on each of the criteria:
The Services index in Bay Harbor Islands is 105.
The Groceries index in Bay Harbor Islands is 106.
The Health index in Bay Harbor Islands is 98.
The Housing index in Bay Harbor Islands is 234.
The Transportation index in Bay Harbor Islands is 104.
The Utilities index in Bay Harbor Islands is 103.
| Living Expense | Bay Harbor Islands | Florida | National Average | |
|---|---|---|---|---|
| Overall | 141 | 97 | 100 | |
| Services | 105 | 96 | 100 | |
| Groceries | 106 | 99 | 100 | |
| Health | 98 | 98 | 100 | |
| Housing | 234 | 96 | 100 | |
| Transportation | 104 | 97 | 100 | |
| Utilities | 103 | 95 | 100 | |
Bay Harbor Islands, 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 2019-2023. The key points are:
The Median Home Value in Bay Harbor Islands is $639,212.
The Median Rent in Bay Harbor Islands is $2,348.
The Median Income in Bay Harbor Islands is $84,750.
The Home Value To Income in Bay Harbor Islands is 7.5x.
The Rent To Monthly Income in Bay Harbor Islands is 0.33x.
| Statistic | Bay Harbor Islands | Florida | United States |
|---|---|---|---|
| Median Home Value | $639,212 | $377,066 | $303,400 |
| Median Rent | $2,348 | $1,564 | $1,348 |
| Median Income | $84,750 | $71,711 | $78,538 |
| Home Value To Income | 7.5x | 5.3x | 3.9x |
| Rent To Monthly Income | 0.33x | 0.26x | 0.21x |
Median Home Value
Median Rent
Median Income
Bay Harbor Islands, FL Costs By Category
Detailed Bay Harbor Islands Services Costs Vs. Florida
| Item | Bay Harbor Islands | Florida |
|---|---|---|
| Shampoo | $1.53 | $1.28 |
| Movie | $14.35 | $12.13 |
| Bowling | $23.67 | $18 |
| Haircut | $20.53 | $24.26 |
| Beauty Salon | $88.07 | $45.56 |
Detailed Bay Harbor Islands Groceries Costs Vs. Florida
| Item | Bay Harbor Islands | Florida |
|---|---|---|
| Ground Beef | $6.11 | $5.84 |
| Fried Chicken | $1.4 | $1.57 |
| Milk | $4.6 | $4.67 |
| Potatoes | $5.24 | $4.93 |
| Pizza | $14.13 | $12.09 |
| Beer | $11.44 | $10.41 |
| Toothpaste | $3.51 | $3.7 |
Detailed Bay Harbor Islands Health Costs Vs. Florida
| Item | Bay Harbor Islands | Florida |
|---|---|---|
| Optometrist | $98.49 | $125.68 |
| Doctor | $127.08 | $135.78 |
| Dentist | $107.83 | $113.29 |
Detailed Bay Harbor Islands Transportation Costs Vs. Florida
| Item | Bay Harbor Islands | Florida |
|---|---|---|
| Gasoline | $3.49 | $3.46 |
| Tire Balancing | $64.09 | $59.92 |
Detailed Bay Harbor Islands Utilities Costs Vs. Florida
| Item | Bay Harbor Islands | Florida |
|---|---|---|
| All Electricity | $200.94 | $193.99 |
| Phone | $194.37 | $192.25 |
Bay Harbor Islands SnackAbility
/10
Cost Of Living In Cities Around Bay Harbor Islands
The cost of living varies in the cities and towns around Bay Harbor Islands. 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 122, 0.9x Bay Harbor Islands.
Davie, FL has a cost of living index of 122, 0.9x Bay Harbor Islands.
North Miami, FL has a cost of living index of 112, 0.8x Bay Harbor Islands.
| City | Population | Cost Of Living | Vs. Bay Harbor Islands |
|---|---|---|---|
| Pembroke Pines, FL | 170,557 | 122 | 0.9x |
| Davie, FL | 106,412 | 122 | 0.9x |
| North Miami, FL | 59,429 | 112 | 0.8x |
| Tamiami, FL | 51,201 | 124 | 0.9x |
| Coral Gables, FL | 49,243 | 188 | 1.3x |
| North Miami Beach, FL | 43,104 | 110 | 0.8x |
| Miami Lakes, FL | 30,731 | 136 | 1.0x |
| Coral Terrace, FL | 24,051 | 128 | 0.9x |
| Sunny Isles Beach, FL | 22,125 | 129 | 0.9x |
| Key Biscayne, FL | 14,560 | 262 | 1.9x |
