Margate, FL Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

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 98, with 100 being the average.

  • The cost of living index in Margate is 1.0x lower than the national average.

  • Margate ranks as the #218 cheapest in Florida out of 459.

  • Margate ranks as the #2,890 cheapest out of 6,412 in the US.

  • The median home value in Margate is $230,900.

  • The median income in Margate is $52,881.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
98
Margate's Overall Cost Of Living
1.0x
Lower 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 98, which is 1.0x lower than the national index of 100.

Compared to Florida, Margate has a cost of living index that's 1.0x lower than Florida's index of 101.

The standard of living in Margate ranks as #218 most affordable out of the 459 places we measured in Florida. By definition, that implies Margate ranks as the #241 most expensive place in the Sunshine State.

For more reading on life in Margate, check out:

218 out of 459
In Florida
2,890 out of 6,412
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 100.

  • The Groceries index in Margate is 118.

  • The Health index in Margate is 102.

  • The Housing index in Margate is 87.

  • The Transportation index in Margate is 108.

  • The Utilities index in Margate is 100.

Living Expense Margate Florida National Average
Overall 98 101 100
Services 100 98 100
Groceries 118 101 100
Health 102 96 100
Housing 87 108 100
Transportation 108 98 100
Utilities 100 100 100
For more reading on cost of living around Florida, check out:
Margate Cost of Living Vs. FL

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 2017-2021. The key points are:

  • The Median Home Value in Margate is $230,900.

  • The Median Rent in Margate is $1,416.

  • The Median Income in Margate is $52,881.

  • The Home Value To Income in Margate is 4.4x.

  • The Rent To Monthly Income in Margate is 0.32x.

Statistic Margate Florida United States
Median Home Value $230,900 $248,700 $244,900
Median Rent $1,416 $1,301 $1,163
Median Income $52,881 $61,777 $69,021
Home Value To Income 4.4x 4.0x 3.5x
Rent To Monthly Income 0.32x 0.25x 0.2x
Search Homes For Sale In Margate, FL
$230,900
Median Home Value
$1,416
Median Rent
$52,881
Median Income

Margate, FL Costs By Category

Detailed Margate Services Costs Vs. Florida

Item Margate Florida
Shampoo $1.07 $1.06
Movie $11.82 $10.68
Bowling $20.88 $14.67
Haircut $14.47 $18.62
Beauty Salon $65.03 $39.05

Detailed Margate Groceries Costs Vs. Florida

Item Margate Florida
Ground Beef $4.66 $4.22
Fried Chicken $1.62 $1.39
Milk $2.96 $2.05
Potatoes $4.99 $3.29
Pizza $8.99 $10.62
Beer $10.84 $9.38
Toothpaste $2.04 $2.34

Detailed Margate Health Costs Vs. Florida

Item Margate Florida
Optometrist $135.56 $108.57
Doctor $102.25 $116.17
Dentist $106.04 $99.13

Detailed Margate Transportation Costs Vs. Florida

Item Margate Florida
Gasoline $2.24 $2.22
Tire Balancing $63.76 $50.07

Detailed Margate Utilities Costs Vs. Florida

Item Margate Florida
All Electricity $162.2 $167.67
Phone $188.17 $175.64

Margate SnackAbility

8
/10
Overall SnackAbility
Jobs
7/10
Housing
8.5
Affordability
3
Diversity
10
Safety
8
Amenities
10
Education
6
Commute
6

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 113, 1.2x Margate.

  • Coral Springs, FL has a cost of living index of 121, 1.2x Margate.

  • Pompano Beach, FL has a cost of living index of 100, 1.0x Margate.

City Population Cost Of Living Vs. Margate
Pembroke Pines, FL 170,346 113 1.2x
Coral Springs, FL 133,693 121 1.2x
Pompano Beach, FL 111,423 100 1.0x
Davie, FL 104,782 111 1.1x
Boca Raton, FL 95,347 128 1.3x
Lauderhill, FL 73,935 96 1.0x
Tamarac, FL 71,140 100 1.0x
Weston, FL 68,148 137 1.4x
Coconut Creek, FL 57,553 103 1.1x
North Lauderdale, FL 44,579 96 1.0x

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