Coral Terrace, FL

Very High · 130

Florida · Population 24,051 · Updated March 2026

$1,707
Median Rent / Month
$77,396
Median Income
$496,500
Median Home Value
$1,519
Owner Costs / Month

Affordability

How far your income goes in Coral Terrace

26.5%
Rent-to-Income Ratio
Moderate
Rent takes 25-35% of median income — moderate affordability.

Tax Burden in Florida

State-level tax rates that affect your costs

0%
Income Tax (Top Rate)
6.0%
Sales Tax
0.86%
Property Tax Rate

Estimated Annual Costs

$20,484
Annual Rent
$0
State Income Tax
$4,270
Property Tax (est.)

Cost of Living Overview

Coral Terrace has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 130 (where 100 equals the national median), Coral Terrace residents can expect to pay median rent of $1,707/month while earning a median household income of $77,396/year.

The median home value in Coral Terrace, FL is $496,500, with typical monthly owner costs around $1,519 including mortgage, insurance, and taxes. With a rent-to-income ratio of 26.5%, Coral Terrace falls within the generally affordable range, though it's approaching the 30% burden threshold.

Florida has no state income tax, which can represent significant savings compared to high-tax states. Combined with a 6.0% sales tax rate and 0.86% effective property tax rate, the overall tax environment helps keep costs manageable in Coral Terrace.

Frequently Asked Questions

Common questions about living costs in Coral Terrace

What is the cost of living in Coral Terrace, FL?
The cost of living index in Coral Terrace, FL is 130 (US average = 100). Median monthly rent is $1,707, median household income is $77,396/year, and the median home value is $496,500.
Is Coral Terrace, FL affordable?
No, Coral Terrace is more expensive than the national average with a cost index of 130. The rent-to-income ratio is 26.5%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Coral Terrace, FL?
The median gross rent in Coral Terrace, FL is $1,707 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $20,484.
What is the median household income in Coral Terrace?
The median household income in Coral Terrace, FL is $77,396 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Florida?
Florida has a top income tax rate of 0%, a sales tax of 6.0%, and an effective property tax rate of 0.86%. Notably, there is no state income tax.