Cost of living in Coral Gables
Coral Gables, located in the heart of Florida, is known for its Mediterranean-style architecture and vibrant cultural scene. Understanding the cost of living in this picturesque city is crucial for both current residents and those considering a move.
This guide provides a detailed breakdown of expenses in Coral Gables, covering essential categories such as dining, groceries, transportation, housing, and utilities.
Cost of Living Summary
Dining and Restaurants
- Inexpensive Restaurant Meal - A meal at a casual restaurant will typically cost $15 on average, with a range between $15 and $30.
- Mid-Range Restaurant (Three-Course Meal for Two) - For a more upscale dining experience, expect to pay around $65, with prices ranging from $50 to $200.
- Fast Food (e.g., McDonald's) - A McMeal or equivalent combo meal averages $10, with a range between $9.5 and $12.
- Beverages (e.g., Domestic Beer, Imported Beer, Cappuccino, Coke/Pepsi) - Domestic beer ranges from $3 to $8, imported beer $5.5 to $9, cappuccino $2.5 to $6, and Coke/Pepsi $1.4 to $3.59.
Grocery Prices
- Milk - Milk is priced between $0.81 and $1.19 per liter, averaging $0.88.
- Bread (Loaf of Fresh White Bread) - A loaf of fresh white bread costs between $1.93 and $5.02, with an average price of $3.17.
- Eggs (Dozen) - A dozen eggs range from $3.29 to $9.85, averaging $3.99.
- Fruits (e.g., Apples, Oranges) - Apples cost $3.9 to $7.25 per kg, while oranges range from $2.2 to $5.51 per kg.
- Vegetables (e.g., Potatoes, Lettuce) - Potatoes are priced between $2.2 and $3.64 per kg, and lettuce costs $1.88 to $3 per head.
Transportation
- Public Transport (One-Way Ticket) - A one-way local transport ticket costs $2.25.
- Fuel (Gasoline) - Gasoline is priced between $0.76 and $1.03 per liter.
- Taxi Fares - Taxi fares start at $2.95, with a cost of $2.36 per km and $24 per hour of waiting.
Housing Costs
- 1-Bedroom Apartment Rent (City Centre) - Rent for a 1-bedroom apartment in the city centre ranges from $2995 to $3200, averaging $3097.5.
- 1-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent averages $2030.
- 3-Bedroom Apartment Rent (City Centre) - Rent for a 3-bedroom apartment in the city centre averages $4800.
- 3-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent averages $3495.
- Buying Price per Square Meter (City Centre) - The price per square meter to buy an apartment in the city centre ranges from $8611.13 to $11463.56, averaging $10037.35.
- Buying Price per Square Meter (Outside Centre) - Outside the centre, the price per square meter averages $12378.5.
Utilities
- Basic Utilities (Electricity, Heating, Water, etc.) - Basic utilities for an 85m2 apartment cost between $120 and $250, averaging $180.37.
- Internet - Internet services range from $50 to $100, with an average cost of $60.
Cost of Living Rankings
The cost of living indices for the United States are compared to New York City (NYC), which serves as the baseline with an index of 100. These provide insights into the relative cost of living in different cities in United States, covering factors like consumer goods, rent, and purchasing power.
Cost of Living Data
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"Key Takeaways"
Coral Gables offers a diverse range of dining options, with prices varying significantly based on the type of restaurant.
Grocery prices in Coral Gables are relatively moderate, though some items like eggs and cheese can be on the higher side.
Transportation costs are reasonable, with affordable public transport and competitive fuel prices.
Housing in Coral Gables is notably expensive, especially in the city centre, reflecting its desirability and location.
Utilities and internet services are moderately priced, aligning with the national average.
Conclusion
Coral Gables presents a unique blend of cultural richness and modern living, but it comes with a relatively high cost of living, particularly in housing.
Prospective residents should consider these factors when planning a move, balancing the city's lifestyle benefits against the financial requirements.