Margate, FL is a small town in South Florida with a population of around 55,000. Despite its size, it offers surprisingly high-quality living with 2 bedroom rent averaging at $1,890 compared to the US average of $1,430. Not only that, but the cost of groceries is also higher than the US average; according to the Grocery Cost Index, it is 104 versus 100 in the US. Margate is home to some popular local businesses such as La Granja Restaurant which offers delicious Latin American cuisine and great service. The city also has several other family-owned restaurants like Cool Runnings Jamaican Grille that are well known for their Caribbean dishes. Lastly there's Appelrouth Law Firm which provides professional legal services to local residents. All these companies offer something unique and beneficial to the people of Margate and make it an attractive place to live.
Margate has an unemployment rate of 5.5%. The US average is 6.0%.
Margate has seen the job market increase by 1.9% over the last year. Future job growth over the next ten years is predicted to be 39.8%, which is higher than the US average of 33.5%.
Tax Rates for Margate
- The Sales Tax Rate for Margate is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Margate 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 Margate
- The average income of a Margate resident is $22,530 a year. The US average is $28,555 a year.
- The Median household income of a Margate resident is $52,881 a year. The US average is $69,021 a year.