Melbourne, FL

Average · 93

Florida · Population 85,718 · Updated March 2026

$1,411
Median Rent / Month
$64,504
Median Income
$272,900
Median Home Value
$1,282
Owner Costs / Month

Affordability

How far your income goes in Melbourne

26.2%
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

$16,932
Annual Rent
$0
State Income Tax
$2,347
Property Tax (est.)

Cost of Living Overview

Melbourne offers a below-average cost of living, giving residents more purchasing power compared to many US cities. With a cost index of 93 (where 100 equals the national median), Melbourne residents can expect to pay median rent of $1,411/month while earning a median household income of $64,504/year.

The median home value in Melbourne, FL is $272,900, with typical monthly owner costs around $1,282 including mortgage, insurance, and taxes. With a rent-to-income ratio of 26.2%, Melbourne 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 Melbourne.

Frequently Asked Questions

Common questions about living costs in Melbourne

What is the cost of living in Melbourne, FL?
The cost of living index in Melbourne, FL is 93 (US average = 100). Median monthly rent is $1,411, median household income is $64,504/year, and the median home value is $272,900.
Is Melbourne, FL affordable?
Yes, Melbourne is more affordable than the national average with a cost index of 93. The rent-to-income ratio is 26.2%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Melbourne, FL?
The median gross rent in Melbourne, FL is $1,411 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $16,932.
What is the median household income in Melbourne?
The median household income in Melbourne, FL is $64,504 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.