Cost of living in Boca Raton 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 Boca Raton 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 Boca Raton is 128, with 100 being the average.
The cost of living index in Boca Raton is 1.3x higher than the national average.
Boca Raton ranks as the #435 cheapest in Florida out of 459.
Boca Raton ranks as the #5,183 cheapest out of 6,412 in the US.
The median home value in Boca Raton is $495,000.
The median income in Boca Raton is $89,776.
According to the most recent data on the cost of living, Boca Raton has an overall cost of living index of 128, which is 1.3x higher than the national index of 100.
Compared to Florida, Boca Raton has a cost of living index that's 1.3x higher than Florida's index of 101.
The standard of living in Boca Raton ranks as #435 most affordable out of the 459 places we measured in Florida. By definition, that implies Boca Raton ranks as the #24 most expensive place in the Sunshine State.
For more reading on life in Boca Raton, check out:
Six factors go into calculating the cost of living index in Boca Raton. Here is how it fairs on each of the criteria:
The Services index in Boca Raton is 100.
The Groceries index in Boca Raton is 115.
The Health index in Boca Raton is 105.
The Housing index in Boca Raton is 193.
The Transportation index in Boca Raton is 109.
The Utilities index in Boca Raton is 100.
|Living Expense||Boca Raton||Florida||National Average|
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 Boca Raton is $495,000.
The Median Rent in Boca Raton is $1,941.
The Median Income in Boca Raton is $89,776.
The Home Value To Income in Boca Raton is 5.5x.
The Rent To Monthly Income in Boca Raton is 0.26x.
|Statistic||Boca Raton||Florida||United States|
|Median Home Value||$495,000||$248,700||$244,900|
|Home Value To Income||5.5x||4.0x||3.5x|
|Rent To Monthly Income||0.26x||0.25x||0.2x|
The cost of living varies in the cities and towns around Boca Raton. Here's a quick look at the cost of living in the most populous nearby places:
Coral Springs, FL has a cost of living index of 121, 0.9x Boca Raton.
Sunrise, FL has a cost of living index of 102, 0.8x Boca Raton.
Deerfield Beach, FL has a cost of living index of 97, 0.8x Boca Raton.
|City||Population||Cost Of Living||Vs. Boca Raton|
|Coral Springs, FL||133,693||121||0.9x|
|Deerfield Beach, FL||86,062||97||0.8x|
|Delray Beach, FL||66,434||108||0.8x|
|Coconut Creek, FL||57,553||103||0.8x|
|North Lauderdale, FL||44,579||96||0.8x|
|Oakland Park, FL||44,092||104||0.8x|