Palm Beach, FL Cost Of Living
Cost Of Living In Palm Beach, FL Summary
Cost of living in Palm Beach 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 Palm Beach 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 Palm Beach is 227, with 100 being the average.
The cost of living index in Palm Beach is 2.3x higher than the national average.
Palm Beach ranks as the #458 cheapest in Florida out of 459.
Palm Beach ranks as the #6,400 cheapest out of 6,489 in the US.
The median home value in Palm Beach is $2,026,759.
The median income in Palm Beach is $175,078.
Table Of Contents
Palm Beach's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Palm Beach, FL?
According to the most recent data on the cost of living, Palm Beach has an overall cost of living index of 227, which is 2.3x higher than the national index of 100.
Compared to Florida, Palm Beach has a cost of living index that's 2.3x higher than Florida's index of 97.
The standard of living in Palm Beach ranks as #458 most affordable out of the 459 places we measured in Florida. By definition, that implies Palm Beach ranks as the #1 most expensive place in the Sunshine State.
For more reading on life in Palm Beach, check out:
In Florida
In America
Palm Beach Cost Of Living Vs. Florida
Six factors go into calculating the cost of living index in Palm Beach. Here is how it fairs on each of the criteria:
The Services index in Palm Beach is 107.
The Groceries index in Palm Beach is 103.
The Health index in Palm Beach is 95.
The Housing index in Palm Beach is 512.
The Transportation index in Palm Beach is 102.
The Utilities index in Palm Beach is 102.
| Living Expense | Palm Beach | Florida | National Average | |
|---|---|---|---|---|
| Overall | 227 | 97 | 100 | |
| Services | 107 | 96 | 100 | |
| Groceries | 103 | 99 | 100 | |
| Health | 95 | 98 | 100 | |
| Housing | 512 | 96 | 100 | |
| Transportation | 102 | 97 | 100 | |
| Utilities | 102 | 95 | 100 | |
Palm Beach, 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 Palm Beach is $2,026,759.
The Median Rent in Palm Beach is $1,849.
The Median Income in Palm Beach is $175,078.
The Home Value To Income in Palm Beach is 11.6x.
The Rent To Monthly Income in Palm Beach is 0.13x.
| Statistic | Palm Beach | Florida | United States |
|---|---|---|---|
| Median Home Value | $2,026,759 | $377,066 | $303,400 |
| Median Rent | $1,849 | $1,564 | $1,348 |
| Median Income | $175,078 | $71,711 | $78,538 |
| Home Value To Income | 11.6x | 5.3x | 3.9x |
| Rent To Monthly Income | 0.13x | 0.26x | 0.21x |
Median Home Value
Median Rent
Median Income
Palm Beach, FL Costs By Category
Detailed Palm Beach Services Costs Vs. Florida
| Item | Palm Beach | Florida |
|---|---|---|
| Shampoo | $1.49 | $1.28 |
| Movie | $13.42 | $12.13 |
| Bowling | $23.13 | $18 |
| Haircut | $22.18 | $24.26 |
| Beauty Salon | $73.78 | $45.56 |
Detailed Palm Beach Groceries Costs Vs. Florida
| Item | Palm Beach | Florida |
|---|---|---|
| Ground Beef | $5.79 | $5.84 |
| Fried Chicken | $1.4 | $1.57 |
| Milk | $4.58 | $4.67 |
| Potatoes | $5.27 | $4.93 |
| Pizza | $14.0 | $12.09 |
| Beer | $11.23 | $10.41 |
| Toothpaste | $3.5 | $3.7 |
Detailed Palm Beach Health Costs Vs. Florida
| Item | Palm Beach | Florida |
|---|---|---|
| Optometrist | $113.16 | $125.68 |
| Doctor | $114.67 | $135.78 |
| Dentist | $106.72 | $113.29 |
Detailed Palm Beach Transportation Costs Vs. Florida
| Item | Palm Beach | Florida |
|---|---|---|
| Gasoline | $3.43 | $3.46 |
| Tire Balancing | $63.46 | $59.92 |
Detailed Palm Beach Utilities Costs Vs. Florida
| Item | Palm Beach | Florida |
|---|---|---|
| All Electricity | $200.94 | $193.99 |
| Phone | $194.37 | $192.25 |
Palm Beach SnackAbility
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Cost Of Living In Cities Around Palm Beach
The cost of living varies in the cities and towns around Palm Beach. Here's a quick look at the cost of living in the most populous nearby places:
Boynton Beach, FL has a cost of living index of 111, 0.5x Palm Beach.
Wellington, FL has a cost of living index of 137, 0.6x Palm Beach.
Jupiter, FL has a cost of living index of 130, 0.6x Palm Beach.
| City | Population | Cost Of Living | Vs. Palm Beach |
|---|---|---|---|
| Boynton Beach, FL | 80,601 | 111 | 0.5x |
| Wellington, FL | 61,497 | 137 | 0.6x |
| Jupiter, FL | 61,097 | 130 | 0.6x |
| Palm Beach Gardens, FL | 59,751 | 132 | 0.6x |
| Greenacres, FL | 43,871 | 104 | 0.5x |
| The Acreage, FL | 40,188 | 128 | 0.6x |
| Royal Palm Beach, FL | 39,089 | 121 | 0.5x |
| Palm Springs, FL | 26,871 | 103 | 0.5x |
| Jupiter Farms, FL | 13,394 | 127 | 0.6x |
| North Palm Beach, FL | 13,089 | 128 | 0.6x |
