Cost of Living in Coral Gables, FL
Population 49,243 · Florida · Data vintage 2023
(100 = US avg)
Coral Gables's housing market reflects its status as a high-earning metro: $1 million for a typical home, 230% above the US median, paired with household incomes around $130,803 that put it in the upper third of the state.
Coral Gables sits roughly 7 miles southwest of Miami — close enough that regional housing and labor patterns are shaped largely by the larger market. Median home values run roughly 112% higher than Miami's $475,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Coral Gables
The median home value in Coral Gables is $1,007,500 — 230% above the national median of $305,000. Median rent runs $2,121/month, 61% higher than the national median of $1,314/month. The median household income of $130,803/year is 75% higher than the US median of $74,580. The local unemployment rate is 3.5%, below the national average of 4.8%. Florida charges no state income tax, a meaningful advantage for take-home pay. The climate averages highs of 82.1°F and lows of 72.6°F. Overall, Coral Gables has a cost of living index of 263 versus the US average of 100, meaning it is 163% more expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
🌤 Climate
NOAA 1991–2020 Climate Normals
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High °F | 75 | 77 | 78 | 81 | 84 | 87 | 89 | 89 | 88 | 84 | 80 | 77 |
| Low °F | 64 | 66 | 68 | 72 | 75 | 77 | 80 | 79 | 78 | 76 | 71 | 66 |
| Precip" | 2.33 | 2.27 | 2.03 | 2.56 | 4.62 | 8.72 | 4.20 | 5.85 | 7.35 | 5.96 | 2.61 | 2.45 |
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
Frequently Asked Questions
What is the cost of living in Coral Gables, FL?
Coral Gables has a cost index of 263 (100 = national average). It is 163% above the national average.
What is average rent in Coral Gables, FL?
The median gross rent in Coral Gables is $2,121 per month based on 2023 Census data.
What is the average home price in Coral Gables?
The median home value in Coral Gables is $1,007,500 according to Zillow and Census data.
What is the median income in Coral Gables?
The median household income in Coral Gables is $130,803 per year (2023 ACS 5-year estimates).
What is the sales tax in Coral Gables, FL?
The combined state and local sales tax rate in Coral Gables is 7.0%. Florida has no state income tax.
Is Coral Gables, FL affordable?
Coral Gables is above average in cost of living, with an index of 263 — about 163% higher than the national average.
What is the weather like in Coral Gables?
Coral Gables has average high temperatures of 82.1°F and average lows of 72.6°F. Annual precipitation is 51". Data from NOAA 1991–2020 Climate Normals.
Coral Gables at a Glance
- Population
- 49,243
- Median Income
- $130,803
- Home Value
- $1,007,500
- Median Rent
- $2,121/mo
- Unemployment
- 3.5%
- Avg High Temp
- 82.1°F
- Sales Tax
- 7.0%
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Florida Rankings
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