South Palm Beach, FL is a vibrant city situated in the southern tip of Florida. It is known for its stunning beaches as well as its bustling downtown area with plenty of shops, restaurants, and businesses. The cost of living in South Palm Beach is relatively high compared to the rest of the country. The average 2 bedroom rent is $2,270 versus the US average of $1,430 while the Grocery Cost Index is 116 compared to the US 100. Notable companies in South Palm Beach include South Florida Media Group, NCCI Holdings Inc., Boca Raton Regional Hospital, and Office Depot. Overall, South Palm Beach offers an interesting blend of recreation and business activity at a higher cost than other places around the US.
South Palm Beach has an unemployment rate of 4.7%. The US average is 6.0%.
South Palm Beach has seen the job market increase by 1.4% over the last year. Future job growth over the next ten years is predicted to be 39.6%, which is higher than the US average of 33.5%.
Tax Rates for South Palm Beach
- The Sales Tax Rate for South Palm Beach is 7.0%. The US average is 7.3%.
- The Income Tax Rate for South Palm Beach 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 South Palm Beach
- The average income of a South Palm Beach resident is $48,781 a year. The US average is $28,555 a year.
- The Median household income of a South Palm Beach resident is $78,063 a year. The US average is $69,021 a year.