Housing costs in Ocean City?
A typical home costs
$248,900, which is 26.4% less expensive than the national average of
$338,100 and 31.3% less expensive than the average Florida home, at
$362,400. Renting a two-bedroom unit in Ocean City costs
$1,270 per month, which is 11.2% cheaper than the national average of
$1,430 and 22.8% cheaper than the state average of
$1,560.
Can I afford Ocean City?
To live comfortably in Ocean City, Florida, a minimum annual income of
$47,520 for a family, and
$43,600 for a single person is recommended.
What does A.I. say about Ocean City?
The cost of living in Ocean City, FL is relatively low compared to many other cities. According to the national cost of living index, Ocean City has an index score of 83, which is 17 points lower than the national average. This means that it is about 17% cheaper to live in Ocean City than in other cities on average. In addition, housing costs are particularly low with the median price for a home being around $170,000 compared to the national average of $231,200. Furthermore, rental costs are also very affordable with an average rent for a two bedroom apartment being around $1125 per month. In conclusion, Ocean City is an affordable place to live and offers great value for those looking to relocate or settle down in a new city.