C+
15%
Overall NAT. AVG.
5%
Goods & Services NAT. AVG.
62%
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 Fernandina Beach Florida National
Cost of living11598100
Goods & Services9598100
Groceries9999100
Health care8696100
Housing16296100
Transportation8799100
Utilities10197100

An Overview of Cost of Living in Fernandina Beach, FL

Getting a feel for the cost of living in Fernandina Beach is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Fernandina Beach is 115, which is 15% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

When it comes to the cost of living in Fernandina Beach, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 62.2% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.

Is Fernandina Beach Affordable?

Is Fernandina Beach an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Fernandina Beach is 80% higher than the national average, while the average monthly rent prices are 20.5% higher than average. The affordability of any location can also be influenced by median income levels. Fernandina Beach has a median household income of $76,595, which is 38.5% higher than the national average.

What Factors can Influence the Cost of Living in Fernandina Beach?

Taxes: Regions that impose higher taxes, including sales and income taxes, can contribute to an increased cost of living. Higher taxes for everyday necessities such as clothing, utilities and food inevitably leads to higher expenditures. Additionally, a higher income tax rate can also play a role in elevating the overall cost of living. In Fernandina Beach, the prevailing sales tax rate starts at 6%, and income tax rates kick off at 0%.

Healthcare: Healthcare costs and insurance premiums can fluctuate greatly based on the city or state. Access to healthcare facilities, out-of-pocket expenses for doctor\’s visits, dentist costs, medication costs and specialized care costs can all impact the cost of living. In Fernandina Beach, the healthcare costs are 14.5% lower than the national average.

Housing: A sought-after location with high housing demand often leads to increased property values and rental rates, which can significantly inflate the overall cost of living. Conversely, areas with low housing demand, particularly in less desirable locales, tend to experience the opposite effect, causing prices to drop and contributing to a more affordable cost of living. In Fernandina Beach, the housing index stands at 62.2% higher than the national average.

Where is the Data From?

The Fernandina Beach cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors 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 Fernandina Beach is 18% higher than the Florida average
  • The cost of living in Fernandina Beach is 15% higher than the national average
  • Fernandina Beach housing is 62% 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 Fernandina Beach

See all the best places to live around Fernandina Beach

Compare Fernandina Beach, 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$84,063$7,005$1,961$2,522
      Renters$36,313$3,026$847$1,089
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Fernandina Beach, FL, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Fernandina Beach, homeowners have a median income of $84,063. Using that number, a maximum of $1,961 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $36,313, which means there is a maximum of $847 to be spent on the costs of renting a home or apartment.

      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 Fernandina Beach National avg. Difference
      Haircut $20.91$24.2613.8%
      Beauty Salon $70.33$45.5654.4%
      Toothpaste $3.69$3.700.3%
      Shampoo $1.43$1.2811.7%
      Movie $12.86$12.136.0%
      Bowling $20.93$18.0016.3%

      Groceries

      Item Fernandina Beach National avg. Difference
      Ground Beef $5.34$5.848.6%
      Fried Chicken $1.47$1.576.3%
      Milk $4.57$4.672.3%
      Potatoes $5.44$4.9310.3%
      Pizza $10.39$12.0914.0%
      Beer $11.31$10.418.6%

      Health Care

      Item Fernandina Beach National avg. Difference
      Optometrist $86.60$125.6831.1%
      Doctor $100.93$135.7825.7%
      Dentist $102.03$113.299.9%
      Ibuprofen $10.61$10.650.4%
      Lipitor $447.41$468.604.5%

      Housing

      Item Fernandina Beach National avg. Difference
      Home Price $332,500.00$184,700.0080.0%
      Avg. Mortgage Payment $1,803.79$2,346.6923.1%
      Apartment Rent $1,144.00$949.0020.5%

      Transportation

      Item Fernandina Beach National avg. Difference
      Gasoline $3.44$3.460.5%
      Tire Balancing $34.43$59.9242.5%

      Utilities

      Item Fernandina Beach National avg. Difference
      All Electricity $193.67$193.990.2%
      Phone $194.82$192.251.3%
      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.
      Kingsland, GA17,523946.4%
      St. Marys, GA18,321981.9%
      Yulee, FL13,3461011.1%
      Kings Bay Base, GA3,1151044.1%
      Fernandina Beach, FL12,62211514.9%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Kewanee, IL12,6227920.7%
      Big Bear City, CA12,62112221.8%
      San Anselmo, CA12,623237137.5%
      Woodland Park, NJ12,60813131.4%
      Erin, ON12,607n/a 
      Fernandina Beach, FL12,62211514.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.