Margate, FL Cost Of Living
Cost Of Living In Margate, FL Summary
Cost of living in Margate 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 Margate 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 Margate is 111, with 100 being the average.
The cost of living index in Margate is 1.1x higher than the national average.
Margate ranks as the #285 cheapest in Florida out of 459.
Margate ranks as the #3,765 cheapest out of 6,489 in the US.
The median home value in Margate is $322,458.
The median income in Margate is $60,852.
Table Of Contents
Margate's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Margate, FL?
According to the most recent data on the cost of living, Margate has an overall cost of living index of 111, which is 1.1x higher than the national index of 100.
Compared to Florida, Margate has a cost of living index that's 1.1x higher than Florida's index of 97.
The standard of living in Margate ranks as #285 most affordable out of the 459 places we measured in Florida. By definition, that implies Margate ranks as the #174 most expensive place in the Sunshine State.
For more reading on life in Margate, check out:
In Florida
In America
Margate Cost Of Living Vs. Florida
Six factors go into calculating the cost of living index in Margate. Here is how it fairs on each of the criteria:
The Services index in Margate is 106.
The Groceries index in Margate is 104.
The Health index in Margate is 94.
The Housing index in Margate is 122.
The Transportation index in Margate is 102.
The Utilities index in Margate is 104.
| Living Expense | Margate | Florida | National Average | |
|---|---|---|---|---|
| Overall | 111 | 97 | 100 | |
| Services | 106 | 96 | 100 | |
| Groceries | 104 | 99 | 100 | |
| Health | 94 | 98 | 100 | |
| Housing | 122 | 96 | 100 | |
| Transportation | 102 | 97 | 100 | |
| Utilities | 104 | 95 | 100 | |
Margate, 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 Margate is $322,458.
The Median Rent in Margate is $1,662.
The Median Income in Margate is $60,852.
The Home Value To Income in Margate is 5.3x.
The Rent To Monthly Income in Margate is 0.33x.
Median Home Value
Median Rent
Median Income
Margate, FL Costs By Category
Detailed Margate Services Costs Vs. Florida
Detailed Margate Groceries Costs Vs. Florida
Detailed Margate Health Costs Vs. Florida
Detailed Margate Transportation Costs Vs. Florida
Detailed Margate Utilities Costs Vs. Florida
Margate SnackAbility
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Cost Of Living In Cities Around Margate
The cost of living varies in the cities and towns around Margate. 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, 1.1x Margate.
Coral Springs, FL has a cost of living index of 130, 1.2x Margate.
Pompano Beach, FL has a cost of living index of 109, 1.0x Margate.
| City | Population | Cost Of Living | Vs. Margate |
|---|---|---|---|
| Pembroke Pines, FL | 170,557 | 122 | 1.1x |
| Coral Springs, FL | 133,962 | 130 | 1.2x |
| Pompano Beach, FL | 112,212 | 109 | 1.0x |
| Davie, FL | 106,412 | 122 | 1.1x |
| Boca Raton, FL | 98,833 | 144 | 1.3x |
| Lauderhill, FL | 73,961 | 105 | 0.9x |
| Tamarac, FL | 71,887 | 107 | 1.0x |
| Weston, FL | 67,952 | 152 | 1.4x |
| Coconut Creek, FL | 57,587 | 111 | 1.0x |
| North Lauderdale, FL | 44,650 | 109 | 1.0x |
