A+
4%
Overall NAT. AVG.
7%
Goods & Services NAT. AVG.
18%
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 Hobe Sound Florida National
Cost of living10498100
Goods & Services9398100
Groceries9999100
Health care9796100
Housing11896100
Transportation9899100
Utilities10997100

An Overview of Cost of Living in Hobe Sound, FL

Are you thinking about relocating, but curious about the potential cost of living in Hobe Sound? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Hobe Sound stands at 104, making it 4% 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.

The cost of living in Hobe Sound closely mirrors the national average in comparison to other cities nationwide. Essential items such as groceries, goods and services, health care and utilities are priced at a level consistent with similar urban areas. This means that residents of Hobe Sound can anticipate that their daily expenses will remain reasonably in line with those of an average city, contributing to a manageable cost of living.

Is Hobe Sound Affordable?

Wondering if Hobe Sound is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Hobe Sound, for example, the median home price is 20.8% higher than what folks pay nationally, and monthly rent is 10.2% higher than the usual rates. Plus, income levels matter too, with Hobe Sound boasting a median household income of $54,701, which is 1.1% lower than the national average.

What Factors can Influence the Cost of Living in Hobe Sound?

Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.

Taxes: Cities that enforce higher taxes, covering both sales taxes and income taxes, can be a factor contributing to a higher cost of living. Paying more in taxes for everyday essentials like clothing and food inevitably leads to higher expenses. A higher income tax rate can further contribute to an overall elevated cost of living. In Hobe Sound, the baseline sales tax rate begins at 6%, and income tax rates start at 0%.

Subsidies: Certain cities or states may institute government subsidies or assistance programs designed to alleviate the financial burdens associated with the cost of living for their residents. These programs encompass a variety of support mechanisms, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Areas that provide fewer subsidies may see an uptick in their overall cost of living.

Where is the Data From?

The Hobe Sound 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. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Hobe Sound is 6% higher than the Florida average
  • The cost of living in Hobe Sound is 4% higher than the national average
  • Hobe Sound housing is 18% 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 Hobe Sound

See all the best places to live around Hobe Sound

Compare Hobe Sound, 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$58,142$4,845$1,357$1,744
      Renters$43,190$3,599$1,008$1,296
      A good way to judge both the affordability of the housing and the cost of living in Hobe Sound is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Hobe Sound has a median income of about $58,142 for people who own homes. Based on that number, a maximum of $1,357 should be spent on expenses related to housing. Renters have a slightly different median income, which is $43,190. Based on this average, renters should spend no more than $1,008 on all rental costs if they want to maintain a non-impoverished standard of living.

      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 Hobe Sound National avg. Difference
      Haircut $21.00$24.2613.4%
      Beauty Salon $56.83$45.5624.7%
      Toothpaste $3.68$3.700.6%
      Shampoo $1.32$1.283.1%
      Movie $13.10$12.137.9%
      Bowling $14.75$18.0018.1%

      Groceries

      Item Hobe Sound National avg. Difference
      Ground Beef $5.85$5.840.2%
      Fried Chicken $1.45$1.578.0%
      Milk $4.52$4.673.2%
      Potatoes $5.38$4.939.0%
      Pizza $12.62$12.094.4%
      Beer $10.69$10.412.6%

      Health Care

      Item Hobe Sound National avg. Difference
      Optometrist $78.20$125.6837.8%
      Doctor $139.80$135.783.0%
      Dentist $132.83$113.2917.3%
      Ibuprofen $10.32$10.653.1%
      Lipitor $526.92$468.6012.4%

      Housing

      Item Hobe Sound National avg. Difference
      Home Price $223,200.00$184,700.0020.8%
      Avg. Mortgage Payment $2,007.04$2,346.6914.5%
      Apartment Rent $1,046.00$949.0010.2%

      Transportation

      Item Hobe Sound National avg. Difference
      Gasoline $3.45$3.460.5%
      Tire Balancing $54.85$59.928.5%

      Utilities

      Item Hobe Sound National avg. Difference
      All Electricity $144.67$193.9925.4%
      Phone $196.14$192.252.0%
      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.
      Rio, FL705982.4%
      Ocean Breeze Park, FL2147821.6%
      Stuart, FL16,2791033.2%
      Jensen Beach, FL13,5921055.3%
      North River Shores, FL3,8951066.1%
      Hobe Sound, FL14,7641043.6%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Whitewater, WI14,7621011.0%
      South Farmingdale, NY14,76614645.7%
      Mount Vernon, IL14,7698218.1%
      Gloversville, NY14,7718812.4%
      Sterling, IL14,7748217.6%
      Hobe Sound, FL14,7641043.6%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.