Cost of Living in Coral Terrace, FL
Population 24,051 · Florida · Data vintage 2023
(100 = US avg)
Coral Terrace is a smaller Florida community of around 24000 residents, where median household incomes of $77,396 and housing costs ($497,000 for a typical home) give the local cost-of-living profile a distinctly small-town shape.
Coral Terrace sits roughly 6 miles west of Miami — close enough that regional housing and labor patterns are shaped largely by the larger market. Housing prices track closely with Miami's $475,000 median.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Coral Terrace
The median home value in Coral Terrace is $496,500 — 63% above the national median of $305,000. Median rent runs $1,707/month, 30% higher than the national median of $1,314/month. The median household income of $77,396/year is 4% higher than the US median of $74,580. The local unemployment rate is 3.0%, below the national average of 4.8%. Florida charges no state income tax, a meaningful advantage for take-home pay. Overall, Coral Terrace has a cost of living index of 150 versus the US average of 100, meaning it is 50% 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
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
Frequently Asked Questions
What is the cost of living in Coral Terrace, FL?
Coral Terrace has a cost index of 150 (100 = national average). It is 50% above the national average.
What is average rent in Coral Terrace, FL?
The median gross rent in Coral Terrace is $1,707 per month based on 2023 Census data.
What is the average home price in Coral Terrace?
The median home value in Coral Terrace is $496,500 according to 2023 Census ACS data.
What is the median income in Coral Terrace?
The median household income in Coral Terrace is $77,396 per year (2023 ACS 5-year estimates).
What is the sales tax in Coral Terrace, FL?
The combined state and local sales tax rate in Coral Terrace is 7.0%. Florida has no state income tax.
Is Coral Terrace, FL affordable?
Coral Terrace is above average in cost of living, with an index of 150 — about 50% higher than the national average.
Coral Terrace at a Glance
- Population
- 24,051
- Median Income
- $77,396
- Home Value
- $496,500
- Median Rent
- $1,707/mo
- Unemployment
- 3.0%
- Sales Tax
- 7.0%
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