Melbourne and Brevard County Cost of Living

By
Real Estate Agent with National Realty of Brevard

Melbourne fl and Brevard County Cost of Living

The cost of living index is based on the composite price of groceries, housing, utilities, transportation, health care, clothing and entertainment.
Cost of living indexes will generally be higher in areas that offer access to beaches, culture, arts and recreation. In addition areas, that offer a wider variety of services such as health and education will run higher due to higher wages, and increased quality of living.

Cost of living indexing explanation
A figure of 100 points is used as an average both for the USA and Florida. For example:
Boise Idaho is ranked at a 99
Boston Mass is rated at 240
San Francisco at 217
Statewide, Florida cities come in from a low of 90 and up.
One way to compare Florida areas to salary requirements
For example-If you were relocating from Portland Oregon (whose rate 1s 120) to Melbourne, and you currently make $50,000 per year, the formula is as follows
Take the destination index, in this case Melbourne-98.0 and divide by Portland’s index-120, then multiply by a salary of $50,000. This will give you a figure of $40,833.00 which would be required to make in Melbourne to have the same quality of life.

See comparable Florida statewide
* Re cost of living--in some areas Real Estate has went up dramatically however costs that factor in such as food, transportation, rents etc have not increased at the same rate-so in some areas, even though housing is expensive, the overall rating may still be low
2006 Fourth quarter stats per ACCRA and Council for Community Economic Research

Comments (0)