Bal Harbour, FL is a luxurious waterfront community located on the northern tip of Miami Beach. Known for its high-end shopping and trendy beach clubs, Bal Harbour offers an upscale lifestyle with plenty of amenities. The average two-bedroom rent in Bal Harbour is $2,490 per month, which is slightly higher than the national average of $1,430. The cost of groceries also tend to be higher in Bal Harbour compared to the rest of the US with a Grocery Cost Index of 115 versus 100 in the US. Local businesses include popular restaurants such as Oceanaire Seafood Room and La Goulue Bal Harbor and luxury retailers like Hermes and Louis Vuitton. All these factors contribute to Bal Harbour's high cost of living, making it an ideal location for those looking for a luxurious getaway or a permanent residence.
Bal Harbour has an unemployment rate of 8.2%. The US average is 6.0%.
Bal Harbour has seen the job market increase by 0.8% over the last year. Future job growth over the next ten years is predicted to be 38.0%, which is higher than the US average of 33.5%.
Tax Rates for Bal Harbour
- The Sales Tax Rate for Bal Harbour is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Bal Harbour is 0.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Bal Harbour
- The average income of a Bal Harbour resident is $52,081 a year. The US average is $28,555 a year.
- The Median household income of a Bal Harbour resident is $81,424 a year. The US average is $69,021 a year.