Cutler Bay, FL is a small city located in South Florida. The local economy is largely driven by tourism and real estate. Companies such as American Airlines, Home Depot, Walgreens, Burger King, La Granja Restaurant, and Credit Union of America are just some of the businesses that make up the Cutler Bay business community. Despite its size, Cutler Bay has a surprisingly affordable cost of living when compared to elsewhere in the US. For instance, the average 2-bedroom rent in Cutler Bay is $1,810 compared to the US average of $1,430 while grocery costs are 107 on the index versus 100 in the US. All this makes Cutler Bay an attractive place to live for those who want access to big city amenities but at a lower price.
Cutler Bay has an unemployment rate of 8.2%. The US average is 6.0%.
Cutler Bay 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 Cutler Bay
- The Sales Tax Rate for Cutler Bay is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Cutler Bay 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 Cutler Bay
- The average income of a Cutler Bay resident is $24,418 a year. The US average is $28,555 a year.
- The Median household income of a Cutler Bay resident is $73,075 a year. The US average is $69,021 a year.