West Palm Beach, Florida is an attractive destination for those looking to escape the cold winter months of the north. The warm climate and beautiful beaches make it a very popular vacation spot year-round. In addition to being a great place for a vacation, many people are asking if West Palm Beach is an affordable place to live.
The cost of living in West Palm Beach is slightly above the national average, but lower than many larger cities. The median home value in the area is around $205,000, and the median rent is around $1,400 per month. This is slightly higher than the national average, but still within reach of many middle class households. Utilities in the area are also slightly more expensive than the national average, but still relatively affordable.
Taxes in West Palm Beach are also slightly higher than the national average. Sales tax is 6 percent, which is slightly more than the average across the US. Property tax is higher than the national average as well, coming in at just over 1.3 percent. While higher than the US average, many cities in the northeast have much higher tax rates.
Overall, West Palm Beach can still be considered affordable. The median home value is lower than most major cities in the US, and the cost of living is still relatively low. Taxes are slightly higher than the national average, but still competitive with other major cities. Those looking for a more affordable place to live may want to consider other cities in Florida, such as Miami or Orlando, which have lower housing costs and taxes.
Affordable Living In West Palm Beach, Florida
West Palm Beach, Florida, is an ideal location for those looking for affordable living. The city is located in the southeastern part of Florida, along the Gulf of Mexico and is the second largest city in the state. With an average cost of living just below the national average, West Palm Beach is an attractive option for those looking for an affordable place to live.
Renting an apartment in West Palm Beach is quite affordable. The median rent is $1,450 per month, which is lower than the nationwide median rental rate of $1,608. The city offers a variety of options, from single-family homes to high-rise apartments. Most apartments come with amenities such as pools, fitness centers, and other features that make living in West Palm Beach desirable.
Buying a home in West Palm Beach is also an affordable option. The median home value is $231,000, which is lower than the national median home value of $261,500. Home prices vary widely depending on the location, size, and features of a home. There are also many affordable neighborhoods located throughout the city.
When it comes to transportation, West Palm Beach has plenty of options. The city has two airports, Palm Beach International Airport and West Palm Beach-Ft Lauderdale International Airport, for easy travel to other cities. The city also has an efficient public transportation system, which includes buses, trolleys, and trams. Additionally, the city has bike lanes and sidewalks for those who prefer to bike or walk.
The cost of living in West Palm Beach is one of the most attractive things about the city. With lower rent and home prices, working individuals and families can enjoy the benefits of living in a city with plenty of entertainment and cultural activities. People who are looking for an affordable place to live should look no further than West Palm Beach.
| Cost | West Palm Beach | National Average |
|---|---|---|
| Median Rent | $1,450 | $1,608 |
| Median Home Value | $231,000 | $261,500 |
Exploring Cost Of Living In West Palm Beach, FL
West Palm Beach, Florida is a great destination for those in search of sunshine, outdoor activities, and rich culture. But before you venture to the Sunshine State, you must consider the cost of living in West Palm Beach.
As with any location, there are a variety of factors to consider when it comes to cost of living, such as housing, transportation, food, utilities, healthcare, childcare, taxes, and entertainment.
Housing expenses in West Palm Beach are higher than the national average, with the median home price currently sitting at $281,500. Renters can expect to pay an average of $1,829 for a one-bedroom apartment.
Transportation costs in West Palm Beach can vary depending on where you live. If you opt to drive, gas prices sit at an average of $2.54 per gallon. If you prefer public transportation, the PalmTran bus system offers rides for $1.50 for an adult one-way fare.
Grocery costs are similar to the national average, with a gallon of milk costing $3.89 and a dozen eggs running for $1.50. Local restaurants offer a variety of cuisine, with the average cost of an entree sitting at around $15.
Utilities such as electricity and water cost an average of $163.24 per month. Healthcare costs in West Palm Beach vary, depending on your provider and plan. However, you can expect to pay an average of $400–$600 per month for basic health insurance coverage.
Childcare expenses are high in West Palm Beach, with the average cost of daycare for a four-year-old sitting at $7,869 per year.
Taxes in West Palm Beach are average compared to the rest of the United States. The city has a combined sales tax rate of 7.00%, with an additional 2.00% local tax. Property taxes are slightly higher than the national average, sitting at 1.34%.
When it comes to entertainment, West Palm Beach offers plenty of options, from the beaches and parks to the museums and art galleries. You can find plenty of things to do for little to no cost, such as a visit to the Norton Museum of Art or the Flagler Museum.
| Item | Cost |
|---|---|
| Median Home Price | $281,500 |
| Average Rent (1-Bedroom) | $1,829 |
| Gas Prices | $2.54/Gallon |
| Public Transportation | $1.50/Adult Fare |
| Grocery Costs (Gallon of Milk) | $3.89 |
| Average Restaurant Entree | $15 |
| Utilities | $163.24/Month |
| Healthcare | $400–$600/Month |
| Childcare | $7,869/Year |
| Sales Tax | 7.00% |
| Property Tax | 1.34% |
Overall, West Palm Beach is a great place to call home, with plenty of sunshine, beaches, and activities. Though it is more expensive than the national average, you can make the most of your money by taking advantage of the city’s free entertainment options.
Yes, West Palm Beach is generally considered an affordable city in Florida.
The cost of living in West Palm Beach is about 4% lower than the average cost of living in the United States.
Yes, West Palm Beach offers a variety of housing options, including single-family homes, apartments, and condos.
Yes, West Palm Beach has a public transportation system that includes buses, shuttles, and trolleys.
The average price of real estate in West Palm Beach is approximately $263,000.
Yes, West Palm Beach has numerous parks and recreational areas, including Grace O’Malley Park, Okeeheelee Park, and John Prince Memorial Park.
Yes, West Palm Beach has a variety of shopping centers, including the Palm Beach Outlets, The Wellington Green Mall, and the CityPlace shopping center.
Yes, West Palm Beach has many museums and cultural attractions, including the Norton Museum of Art, the Palm Beach Zoo, and the Flagler Museum.
West Palm Beach has a tropical climate, with warm temperatures year-round and an average of around 200 sunny days per year.
Yes, West Palm Beach has several educational institutions, including Palm Beach Atlantic University and Florida Atlantic University.