Are you planning a move to Fort Lauderdale, FL and wondering if it is an expensive place to live in? We’ll break down the cost of living in Fort Lauderdale by answering the following key questions - what is expected cost of living Fort Lauderdale, what is the median income in Fort Lauderdale, what is a good livable salary in Fort Lauderdale, and what are the average rent and home prices in Fort Lauderdale.
Is Fort Lauderdale expensive to live in?
Fort Lauderdale is part of Fort Lauderdale-Pompano Beach-Sunrise Metro Div. metro area, which is ranked 34 out of 273 cities across the US in terms of cost of living. According to C2ER (the Council for Community and Economic Research), the cost of living in Fort Lauderdale is estimated to be 117.8% of the national average making it one of the more expensive cities in the US.
Total monthly expenditure you can expect to incur depends on the cost of housing, food, utilities, transportation, healthcare, other miscellaneous goods and services. Note that your household composition (single or married, number of kids) and home ownership status (renting vs. owning) might affect your monthly expenses.
Fort Lauderdale, FL is ranked
34/273 cities in the US
estimated to be 117.8% of the national average making it one of the more expensive cities in the US
See our Fort Lauderdale City Guide
How do Fort Lauderdale prices compare to other US cities?
Fort Lauderdale is ranked 34 out of 273 cities across the US in terms of cost of living. The cost of living in Fort Lauderdale is 117.8% of the national average.
Compare Fort Lauderdale to:
U.S. Average
| Category | Fort Lauderdale | U.S. Average |
|---|---|---|
| Milk (1/2 gal) | $4.43 (-4.88%) | $4.65 |
| Bread | $5.16 (+24.48%) | $3.9 |
| Hamburger | $5.49 (+2.45%) | $5.36 |
| Large Pizza | $14 (+13.98%) | $12.04 |
| Chicken (2 pcs) | $4.83 (-1.87%) | $4.92 |
| Doctor Visit | $119 (-10.54%) | $131.54 |
| Dentist Visit | $109.17 (-4.1%) | $113.65 |
| Rent | $2,619.6 (+43.88%) | $1,470.04 |
| Mortgage | $3,328.91 (+31.39%) | $2,283.8 |
| Gas | $3.41 (+1.79%) | $3.35 |
| Energy Bill | $202.57 (+4.73%) | $192.98 |
Cost of Living compared to national average
18% higher
Housing prices compared to national average
56% higher
Cost of Living Calculator for Fort Lauderdale
Get an estimate of income required to live comfortably in Fort Lauderdale. Our cost of living calculator will give you an estimate of your expected expenditures on food, utilities, transportation, housing, healthcare, and more. Simply pick your marital status and family type from the drop-down. The calculator will give you a breakdown of your monthly spends on food, utilities, transportation, housing, healthcare, and other miscellaneous items to help you determine your cost of living in Fort Lauderdale. Try it now.
Marital Status
Married
Family Type
Married with Children
Your required pre-tax income
$0
Your required post-tax income
$0
| Category | Expenditure |
|---|---|
| Food | $0 |
| Utilities | $0 |
| Transportation | $0 |
| Healthcare | $0 |
| Housing (Rent / Mortgage) | $0 |
| Other Housing | $0 |
| Miscllaneous | $0 |
| Total Annual Expenditure | $0 |
What is a livable salary in Fort Lauderdale?
The median household income in a city certainly helps gauge the cost of living. The median household income in Fort Lauderdale is $66,994, which is 8% more than that of the state. The median income for an individual is $38,304, which is 11% more than that of the state.
The minimum salary you need to live in Fort Lauderdale is the sum of your daily expenses (groceries, utilities, transportation, entertainment), your monthly housing-related costs (rent, mortgage, insurance, maintenance), any debt expenses (monthly interest payments and principal paydowns), as well as your savings and investment goals.
A good rule of thumb for housing affordability is the 28% rule: your monthly rent or the sum of your monthly mortgage, property taxes, and insurance should not exceed 28% of your gross income (income before tax).
Understanding the expected costs in Fort Lauderdale can help you determine whether a given salary is a livable salary. For instance, if you know the typical housing costs in Fort Lauderdale, you can use widely followed simple rules to determine if you can afford it on your salary. A good rule of thumb for housing affordability is the 28% rule: your monthly rent or the sum of your monthly mortgage, property taxes, and insurance should not exceed 28% of your gross income (income before tax). Another good rule of thumb is the 50-30-20 rule which says 50% of the net income (income after tax) should be spent on needs, 30% on wants, and 20% on savings and investments. So plan to ensure that your net income covers your needs and wants, so that you can live comfortably in Fort Lauderdale, FL.
Median Household Income
$66,994
Median Individual Income
$38,304
What is the average rent in Fort Lauderdale?
Housing is generally the biggest monthly cost that you would need to account for. The average rent in Fort Lauderdale (located in Fort Lauderdale-Pompano Beach-Sunrise Metro Div.) metro area for a 2-bed home is $2,619, which is 78% more than the average rent across the US. However, this average takes into account both metro and suburban areas. So, the costs may go up or down depending on which neighborhood you eventually decide to stay.
Rent compared to national average
78% more
What is the median home price in Fort Lauderdale?
The median home price in Fort Lauderdale is $610,000 with a median price per sqft of $412.
The cost of living index for housing estimates the cost of housing in Fort Lauderdale to be 156% of the national average. This makes it one of the more expensive cities in the US.
Median Home Price
610K
Median Price/Sqft
$412
Average Rent
$2,619
Housing Index
156%
What is a cost of living calculator?
A cost of living calculator helps you to assess how much you will need to make in order to live comfortably in a specific city. It takes into account various expenses that you will make in your daily lives (on housing, food, utilities, transportation, entertainment, etc.) and helps you determine a livable salary. The prices of goods and services vary in different cities, and hence having a cost of living index or calculator can make the decision to move easier by allowing you to directly compare one city with another.
About the cost of living data
- To calculate the cost of living, data has been taken from C2ER (Council for Community and Economic Research)
- The Cost of Living Index takes into account the data from 273 cities across the US
- The Cost of Living Index and hence, the ranking reflects cost differentials for professional households in the top income quintile
Explore all homes for sale in Fort Lauderdale, FL
Home
Florida
Broward County
Fort Lauderdale
Home
Florida
Broward County
Fort Lauderdale
Home
Florida
Broward County
Fort Lauderdale
The MLS data provided for the property above is provided courtesy of Flyhomes. Source: Southeast Florida MLS. Information is deemed reliable but not guaranteed. © 2024. The listing data on this page comes in part from the Internet Data Exchange (IDX), a collaboration between the following REALTOR(R) associations in the Southeast Florida Multiple Listing Service (MLS): Miami Association of REALTORS®, REALTOR® Association of Greater Ft. Lauderdale and South Broward Board of REALTORS®. All rights reserved. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Use of search facilities of data on the site, other than a consumer looking to purchase real estate, is prohibited.
Based on information submitted to the MLS GRID as of 7/20/2024, 5:58:44 PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS. Some IDX listings have been excluded from this website. Listings courtesy of Stellar MLS as distributed by MLS GRID.
All information is provided exclusively for consumers' personal non-commercial use, and may not be used for any purpose other than to identify prospective properties for purchase. Use of this data provided by MLS GRID may be subject to an end user license agreement prescribed by Stellar MLS if any and as amended from time to time.
The Digital Millennium Copyright Act of 1998, 17 U.S.C. § 512 (the “DMCA”) provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under U.S. copyright law. If you believe in good faith that any content or material made available in connection with our website or services infringes your copyright, you (or your agent) may send us a notice requesting that the content or material be removed, or access to it blocked. Notices must be sent in writing by email to DMCAnotice@MLSGrid.com.
The DMCA requires that your notice of alleged copyright infringement include the following information:
(1) description of the copyrighted work that is the subject of claimed infringement;
(2) description of the alleged infringing content and information sufficient to permit us to locate the content;
(3) contact information for you, including your address, telephone number and email address;
(4) a statement by you that you have a good faith belief that the content in the manner complained of is not authorized by the copyright owner, or its agent, or by the operation of any law;
(5) a statement by you, signed under penalty of perjury, that the information in the notification is accurate and that you have the authority to enforce the copyrights that are claimed to be infringed; and
(6) a physical or electronic signature of the copyright owner or a person authorized to act on the copyright owner’s behalf. Failure to include all of the above information may result in the delay of the processing of your complaint.
The information being provided by My Florida Regional MLS DBA Stellar MLS is for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumer may be interested in purchasing. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of My Florida Regional MLS DBA Stellar MLS. Real estate listings held by brokerage firms other than this site owner are marked with the IDX/MLS logo. Information deemed reliable but is not guaranteed accurate by My Florida Regional MLS DBA Stellar MLS
