Ocean City, FL is a small coastal town located near the Gulf of Mexico. It is an ideal place to live for people who are looking for a quieter lifestyle and beautiful beaches. The cost of living is relatively low compared to the US average. For example, 2 bedroom rent in Ocean City is only $1,270 compared to $1,430 nationally. Additionally, the Grocery Cost Index in Ocean City is 99 versus 100 in the US.
There are several local companies that provide employment opportunities to residents of Ocean City. Notable employers include Florida Power & Light Company, Sandestin Golf & Beach Resort, and The Market Shoppes at Sandestin. With its close proximity to the beach and lower cost of living relative to other areas of the US, Ocean City offers an attractive quality of life for those seeking a relaxing retreat by the sea.
Ocean City has an unemployment rate of 4.0%. The US average is 6.0%.
Ocean City has seen the job market increase by 4.2% over the last year. Future job growth over the next ten years is predicted to be 46.2%, which is higher than the US average of 33.5%.
Tax Rates for Ocean City
- The Sales Tax Rate for Ocean City is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Ocean City 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 Ocean City
- The average income of a Ocean City resident is $26,095 a year. The US average is $28,555 a year.
- The Median household income of a Ocean City resident is $49,653 a year. The US average is $69,021 a year.