C-
22%
Overall NAT. AVG.
5%
Goods & Services NAT. AVG.
81%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Destin Florida National
Cost of living12298100
Goods & Services10598100
Groceries9599100
Health care9496100
Housing18196100
Transportation8999100
Utilities8397100

An Overview of Cost of Living in Destin, FL

Are you thinking about relocating, but curious about the potential cost of living in Destin? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Destin stands at 122, making it 22% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

If you're in pursuit of an economical living environment, Destin may not fit the bill, as it ranks among the most expensive places to reside in the United States. Just a minority of regions exhibit a cost of living that is more than 20% higher than the national average, and, unfortunately, Destin falls within this bracket.

Housing costs significantly influence the Destin cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 81.3%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.

Is Destin Affordable?

Is Destin affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Destin, the median home price is 87.3% higher than the national average and monthly rent prices are 67.2% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Destin boasting a median household income of $81,468, 47.3% higher than the national average.

What Factors can Influence the Cost of Living in Destin?

Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Destin, the groceries index is 4.7% lower than the national average.

Taxes: Cities that impose higher taxes, including sales and income taxes, can contribute to an escalated cost of living. The added expense of taxes on everyday goods like clothing and food naturally results in higher overall costs. Similarly, a higher income tax rate can further elevate the cost of living. In Destin, the general sales tax rate starts at 6%, and income tax rates begin at 0%.

Transportation: In cities with limited or no public transportation, residents may find it necessary to own and maintain vehicles, thereby elevating the cost of living. Monthly expenditures include fuel, insurance, routine maintenance and potential lease or financing commitments. In Destin, the transportation index stands at 11.3% lower than the national average.

Where is the Data From?

The Destin cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Destin is 25% higher than the Florida average
  • The cost of living in Destin is 22% higher than the national average
  • Destin housing is 81% higher than the national average
  • Florida general sales tax is 18% higher than the national average
  • Florida state income tax is 100% lower than the national average

Most Affordable Places to Live in and Around Destin

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Compare Destin, FL Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$93,721$7,810$2,187$2,812
      Renters$55,745$4,645$1,301$1,673
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Destin, FL, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Destin homeowners, is $93,721. This would allow for a maximum of $2,187 per month to be spent on housing costs. For renters, the median monthly income is $55,745 which would result in a maximum of $1,301 to be spent on rental costs.

      Florida Sales Tax

      State General Sales Tax With Max Surtax
      Florida 6% 7.5%

      Florida Income Tax

      State Income Tax (Low) Income Tax (High)
      Florida 0% 0%

      Goods & Services

      Item Destin National avg. Difference
      Haircut $21.34$24.2612.0%
      Beauty Salon $52.41$45.5615.0%
      Toothpaste $3.71$3.700.3%
      Shampoo $1.17$1.288.4%
      Movie $12.99$12.137.1%
      Bowling $20.00$18.0011.1%

      Groceries

      Item Destin National avg. Difference
      Ground Beef $6.17$5.845.7%
      Fried Chicken $1.67$1.576.2%
      Milk $4.50$4.673.8%
      Potatoes $5.20$4.935.4%
      Pizza $12.56$12.093.9%
      Beer $10.49$10.410.8%

      Health Care

      Item Destin National avg. Difference
      Optometrist $107.95$125.6814.1%
      Doctor $106.49$135.7821.6%
      Dentist $113.85$113.290.5%
      Ibuprofen $10.06$10.655.6%
      Lipitor $510.84$468.609.0%

      Housing

      Item Destin National avg. Difference
      Home Price $346,000.00$184,700.0087.3%
      Avg. Mortgage Payment $1,585.50$2,346.6932.4%
      Apartment Rent $1,587.00$949.0067.2%

      Transportation

      Item Destin National avg. Difference
      Gasoline $3.20$3.467.5%
      Tire Balancing $47.55$59.9220.6%

      Utilities

      Item Destin National avg. Difference
      All Electricity $142.23$193.9926.7%
      Phone $188.01$192.252.2%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Mary Esther, FL4,3701000.4%
      Wright, FL24,6711000.2%
      Ocean City, FL5,9691000.3%
      Fort Walton Beach, FL22,1441000.3%
      Niceville, FL15,6191088.0%
      Destin, FL14,48212222.3%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      College Park, GA14,4791000.4%
      Summerfield, MD14,47712221.9%
      Greece, NY14,477927.6%
      Owosso, MI14,4768812.4%
      Batavia, NY14,4908910.7%
      Destin, FL14,48212222.3%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.