B
10%
Overall NAT. AVG.
5%
Goods & Services NAT. AVG.
27%
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 Coconut Creek Florida National
Cost of living11098100
Goods & Services10598100
Groceries10499100
Health care9396100
Housing12796100
Transportation10199100
Utilities10397100

An Overview of Cost of Living in Coconut Creek, FL

The cost of living in Coconut Creek affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Coconut Creek is 110, which is 10% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

Housing costs make up a big chunk of the cost of living in Coconut Creek, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 26.8% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.

Is Coconut Creek Affordable?

Is Coconut Creek 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 Coconut Creek, the median home price is 4.4% higher than the national average and monthly rent prices are 79.1% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Coconut Creek boasting a median household income of $65,578, 18.5% higher than the national average.

What Factors can Influence the Cost of Living in Coconut Creek?

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 Coconut Creek, the transportation index stands at 1.1% higher than the national average.

Housing: When everyone's vying for homes in popular areas, it drives up property prices and rents, making the overall cost of living surge. On the flip side, in less sought-after locales, where housing demand is low, prices tend to dip, resulting in a more economical cost of living. In Coconut Creek, the housing index comes in at 26.8% higher than the national average.

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 Coconut Creek, the healthcare costs are 6.6% lower than the national average.

Where is the Data From?

The Coconut Creek 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 Coconut Creek is 13% higher than the Florida average
  • The cost of living in Coconut Creek is 10% higher than the national average
  • Coconut Creek housing is 27% 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 Coconut Creek

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Compare Coconut Creek, 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$67,252$5,604$1,569$2,018
      Renters$63,027$5,252$1,471$1,891
      A good indicator of the general affordability of housing in Coconut Creek, FL, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Coconut Creek, the median monthly income is $67,252 for those who own their own homes. Under the standard rule, that income level would allow for $1,569 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $63,027, per the median income in the area. That would allow for renters to spend up to $1,471 on monthly rental expenses.

      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 Coconut Creek National avg. Difference
      Haircut $22.18$24.268.6%
      Beauty Salon $73.78$45.5661.9%
      Toothpaste $3.50$3.705.6%
      Shampoo $1.49$1.2816.0%
      Movie $13.42$12.1310.6%
      Bowling $23.13$18.0028.5%

      Groceries

      Item Coconut Creek National avg. Difference
      Ground Beef $5.79$5.840.8%
      Fried Chicken $1.40$1.5711.2%
      Milk $4.58$4.672.0%
      Potatoes $5.27$4.936.8%
      Pizza $14.00$12.0915.8%
      Beer $11.23$10.417.9%

      Health Care

      Item Coconut Creek National avg. Difference
      Optometrist $113.16$125.6810.0%
      Doctor $114.67$135.7815.5%
      Dentist $106.72$113.295.8%
      Ibuprofen $10.94$10.652.7%
      Lipitor $489.98$468.604.6%

      Housing

      Item Coconut Creek National avg. Difference
      Home Price $192,900.00$184,700.004.4%
      Avg. Mortgage Payment $3,476.17$2,346.6948.1%
      Apartment Rent $1,700.00$949.0079.1%

      Transportation

      Item Coconut Creek National avg. Difference
      Gasoline $3.43$3.460.9%
      Tire Balancing $63.46$59.925.9%

      Utilities

      Item Coconut Creek National avg. Difference
      All Electricity $200.94$193.993.6%
      Phone $194.37$192.251.1%
      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.
      Lauderdale Lakes, FL36,063973.2%
      Franklin Park, FL1,549981.7%
      Roosevelt Gardens, FL2,068991.0%
      Watergate, FL3,6581044.5%
      Lauderhill, FL71,8271044.5%
      Coconut Creek, FL60,93511010.3%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Petaluma, CA60,86518282.0%
      Millcreek, UT60,82812827.8%
      Aurora, ON61,058n/a 
      Malden, MA60,71015049.9%
      Taylor, MI61,164918.8%
      Coconut Creek, FL60,93511010.3%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.