You may be familiar with some Florida cities with the cost of living on the cheaper end but how well do you know The Sunshine State’s most expensive cities?
How Much You Need To Earn To Be Upper Middle Class in Every State
To uncover the priciest Florida cities to live in, GOBankingRates sourced the total population and median household income across Florida cities using the US Census American Community Survey. The average single-family home value for 2024 was also included, along with calculations for the average mortgage cost. GOBankingRates then combined the average mortgage and monthly expenditure cost to determine the monthly cost of living.
Ranked in ascending order with the top city having the highest total monthly costs, these are the 25 most expensive cities to live in Florida.
25. Surfside
- Total population: 2,105
- Median household income: $73,160
- January 2024 average home value: $1,322,833
- Expenditure monthly cost: $2,303
- Average mortgage: $7,825
- Total cost monthly: $10,128
24. Sunny Isles Beach
- Total population: 10,470
- Median household income: $57,145
- January 2024 average home value: $1,350,332
- Expenditure monthly cost: $2,295
- Average mortgage: $7,988
- Total cost monthly: $10,283
23. Holmes Beach
- Total population: 1,590
- Median household income: $94,545
- January 2024 average home value: $1,465,127
- Expenditure monthly cost: $1,692
- Average mortgage: $8,667
- Total cost monthly: $10,359
22. Marco Island
- Total population: 8,276
- Median household income: $105,315
- January 2024 average home value: $1,501,725
- Expenditure monthly cost: $1,627
- Average mortgage: $8,883
- Total cost monthly: $10,510
21. Siesta Key
- Total population: 2,986
- Median household income: $113,500
- January 2024 average home value: $1,476,918
- Expenditure monthly cost: $2,040
- Average mortgage: $8,737
- Total cost monthly: $10,776
20. Islamorada
- Total population: 3,135
- Median household income: $93,750
- January 2024 average home value: $1,488,013
- Expenditure monthly cost: $2,254
- Average mortgage: $8,802
- Total cost monthly: $11,056
19. Longboat Key
- Total population: 4,171
- Median household income: $141,250
- January 2024 average home value: $1,513,971
- Expenditure monthly cost: $2,164
- Average mortgage: $8,956
- Total cost monthly: $11,119
18. Indian River Shores
- Total population: 2,271
- Median household income: $153,242
- January 2024 average home value: $1,864,758
- Expenditure monthly cost: $1,656
- Average mortgage: $11,031
- Total cost monthly: $12,687
17. Coral Gables
- Total population: 18,947
- Median household income: $118,203
- January 2024 average home value: $1,807,073
- Expenditure monthly cost: $2,261
- Average mortgage: $10,689
- Total cost monthly: $12,951
16. Highland Beach
- Total population: 2,325
- Median household income: $140,045
- January 2024 average home value: $2,023,784
- Expenditure monthly cost: $2,215
- Average mortgage: $11,971
- Total cost monthly: $14,187
15. Pinecrest
- Total population: 5,966
- Median household income: $178,095
- January 2024 average home value: $2,126,375
- Expenditure monthly cost: $2,322
- Average mortgage: $12,578
- Total cost monthly: $14,900
14. Sea Ranch Lakes
- Total population: 172
- Median household income: $238,750
- January 2024 average home value: $2,274,397
- Expenditure monthly cost: $1,831
- Average mortgage: $13,454
- Total cost monthly: $15,285
13. Anna Maria
- Total population: 486
- Median household income: $93,478
- January 2024 average home value: $2,296,472
- Expenditure monthly cost: $2,090
- Average mortgage: $13,584
- Total cost monthly: $15,675
12. Bay Harbor Islands
- Total population: 2,208
- Median household income: $73,587
- January 2024 average home value: $2,285,578
- Expenditure monthly cost: $2,319
- Average mortgage: $13,520
- Total cost monthly: $15,839
11. Miami Beach
- Total population: 41,711
- Median household income: $65,116
- January 2024 average home value: $2,393,930
- Expenditure monthly cost: $1,875
- Average mortgage: $14,161
- Total cost monthly: $16,036
10. Ocean Ridge
- Total population: 891
- Median household income: $107,813
- January 2024 average home value: $2,412,401
- Expenditure monthly cost: $1,813
- Average mortgage: $14,270
- Total cost monthly: $16,084
9. Golf
- Total population: 127
- Median household income: $250,000
- January 2024 average home value: $2,814,997
- Expenditure monthly cost: $1,838
- Average mortgage: $16,652
- Total cost monthly: $18,490
8. Jupiter Inlet Colony
- Total population: 192
- Median household income: $135,000
- January 2024 average home value: $3,550,777
- Expenditure monthly cost: $1,855
- Average mortgage: $21,004
- Total cost monthly: $22,859
7. Key Biscayne
- Total population: 4,658
- Median household income: $173,015
- January 2024 average home value: $3,738,140
- Expenditure monthly cost: $2,303
- Average mortgage: $22,112
- Total cost monthly: $24,415
6. Gulf Stream
- Total population: 392
- Median household income: $227,500
- January 2024 average home value: $5,082,738
- Expenditure monthly cost: $1,876
- Average mortgage: $30,066
- Total cost monthly: $31,942
5. Bal Harbour
- Total population: 1,325
- Median household income: $86,172
- January 2024 average home value: $5,630,660
- Expenditure monthly cost: $2,314
- Average mortgage: $33,307
- Total cost monthly: $35,622
4. Manalapan
- Total population: 162
- Median household income: $162,000
- January 2024 average home value: $6,889,526
- Expenditure monthly cost: $1,834
- Average mortgage: $40,754
- Total cost monthly: $42,589
3. Golden Beach
- Total population: 179
- Median household income: $250,000
- January 2024 average home value: $6,982,434
- Expenditure monthly cost: $1,958
- Average mortgage: $41,304
- Total cost monthly: $43,261
2. Jupiter Island
- Total population: 342
- Median household income: $235,500
- January 2024 average home value: $9,708,076
- Expenditure monthly cost: $1,646
- Average mortgage: $57,427
- Total cost monthly: $59,073
1. Palm Beach
- Total population: 5,370
- Median household income: $190,824
- January 2024 average home value: $11,165,407
- Expenditure monthly cost: $2,237
- Average mortgage: $66,047
- Total cost monthly: $68,284
Photo disclaimer: Photos are for illustrative purposes only. In many cases, the closest major city outside of the city/county mentioned in the article was used.
Methodology: For this study, GOBankingRates analyzed cities across Florida to find the most expensive cities to live. First GOBankingRates found the total population and median household income both sourced from the US Census American Community Survey. Next GOBankingRates found the average single family home value for January 2024 as sourced from the Zillow Home Value Index. Assuming a 10% down payment and using the 30 year national average fixed rate mortgage, as sourced from the Federal Reserve Economic Data, the average mortgage can be calculated. By combining the average mortgage and monthly expenditure cost, the monthly cost of living can be calculated. The cities are sorted to show the most expensive to least expensive cities in Florida. All data was collected and is up to date as of April 29, 2024.
More From GOBankingRates