Cost Of Living in Indian River Shores, FL

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F

72%

Overall NAT. AVG.

7%

Goods & Services NAT. AVG.

245%

Housing NAT. AVG.

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	Indian River Shores	Florida	National
Cost of living	172	98	100
Goods & Services	93	98	100
Groceries	99	99	100
Health care	97	96	100
Housing	345	96	100
Transportation	98	99	100
Utilities	109	97	100

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Cost Of Living Quick Facts

The cost of living in Indian River Shores is 76% higher than the Florida average
The cost of living in Indian River Shores is 72% higher than the national average
Indian River Shores housing is 245% 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

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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	$162,150	$13,513	$3,783	$4,865
Renters	$102,938	$8,578	$2,402	$3,088

The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Indian River Shores, 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 Indian River Shores, homeowners have a median income of $162,150. Using that number, a maximum of $3,783 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $102,938, which means there is a maximum of $2,402 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	Indian River Shores	National avg.	Difference
Haircut	$21.00	$24.26	13.4%
Beauty Salon	$56.83	$45.56	24.7%
Toothpaste	$3.68	$3.70	0.6%
Shampoo	$1.32	$1.28	3.1%
Movie	$13.10	$12.13	7.9%
Bowling	$14.75	$18.00	18.1%

Groceries

Item	Indian River Shores	National avg.	Difference
Ground Beef	$5.85	$5.84	0.2%
Fried Chicken	$1.45	$1.57	8.0%
Milk	$4.52	$4.67	3.2%
Potatoes	$5.38	$4.93	9.0%
Pizza	$12.62	$12.09	4.4%
Beer	$10.69	$10.41	2.6%

Health Care

Item	Indian River Shores	National avg.	Difference
Optometrist	$78.20	$125.68	37.8%
Doctor	$139.80	$135.78	3.0%
Dentist	$132.83	$113.29	17.3%
Ibuprofen	$10.32	$10.65	3.1%
Lipitor	$526.92	$468.60	12.4%

Housing

Item	Indian River Shores	National avg.	Difference
Home Price	$780,900.00	$184,700.00	322.8%
Avg. Mortgage Payment	$2,007.04	$2,346.69	14.5%
Apartment Rent	$1,563.00	$949.00	64.7%

Transportation

Item	Indian River Shores	National avg.	Difference
Gasoline	$3.45	$3.46	0.5%
Tire Balancing	$54.85	$59.92	8.5%

Utilities

Item	Indian River Shores	National avg.	Difference
All Electricity	$144.67	$193.99	25.4%
Phone	$196.14	$192.25	2.0%

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.
Windsor, FL	377	98	2.4%
Fellsmere, FL	5,692	88	12.2%
Gifford, FL	4,481	88	12.1%
Micco, FL	8,990	88	11.7%
West Vero Corridor, FL	10,507	89	11.1%
Indian River Shores, FL	4,255	172	71.9%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Taylor, AZ	4,255	108	8.0%
Mount Pleasant, PA	4,255	89	11.1%
Garden City South, NY	4,254	170	70.1%
Highland CDP, IN	4,256	103	2.7%
Helena Valley Northwest, MT	4,256	106	6.0%
Indian River Shores, FL	4,255	172	71.9%