April 14th, 2023
Cost of Living Jupiter, Florida
Is Jupiter, FL, an expensive place to live? Let's look deeper into the costs of living in Alabama, the average household income, typical expenses, and more!
Looking for a place to live considered one of the best places to move to in Florida? Well, Jupiter may be the one for you, then. Jupiter is a town on the southeastern coast of Florida that is located on a hill that overlooks the Loxahatchee River. This home gives residents a dense suburban feel, fantastic weather, beautiful beaches, and many more amenities. Home to about 60,802 residents, it is hard to say they do not love it.
Many people decide to move to Jupiter because they have the best beaches in the state, fantastic infrastructure, superb year-round temperatures, and so much more! However, the cost of living is slightly higher than the national average due to the location and what this area offers. On the other hand, Jupiter is mainly known for two big things: its lighthouse and celebrities. The Jupiter Inlet Lighthouse and Museum are one of the few historic lighthouses that are still in use and open to the public, while the famous Tiger Woods also locates here!
In this guide, we will be covering the cost of living in Jupiter with data that covers data from all significant areas. These categories will help you better understand what you'll need to budget to live in a place you love. So if you are interested in moving to Jupiter, Florida, you are in the perfect place.
Cost of Living
The average cost of living in Jupiter is about 13 percent more expensive than the national average, so it is not considered to be one of the most affordable places to live. With these numbers, it puts Jupiter in the top 0.5 percent of the most expensive cities in the world. The total cost of housing, food, childcare, transportation, healthcare, taxes, and other expenses for a single person living there is about $38,025 a year, which is slightly larger than the annual cost of living in Florida.
The median household income is also around $75,000, accounting for all the great amenities this city offers its residents. On the other hand, the sales tax rate is about 6 percent, while the average property tax is about 1.1 percent. However, the state of Florida is one of the states that does not have a state income tax. On the other hand, the cost of living will always vary and depend on the housing, income, and amenities that you will use. Overall, Jupiter is expensive when it comes to costs, but it has some fantastic opportunities that you should not miss out on.
The housing market here is slightly competitive due to an increase of about 9 percent in housing prices in the past year, with a median listing price at $1,637,652 since March of 2023. On the other hand, the rent cost per month here is about $1,677 a month. On the plus side, the rent has gone down about 10 percent in the past year, but sadly you need to keep in mind that the housing cost is well above the national average. Finding somewhere to live is the most important part of moving somewhere, so make sure you keep in mind these costs.
Jupiter is a neutral housing market; about 28 percent more homes are sold than last year. Houses here range from the earliest years from 1930 until even now. Jupiter does have a large variety of options to choose from. On average, homes here are selling fast, so if you are interested in moving, you should check out some single-family homes, condos, and townhomes in Jupiter. It would be best if you took advantage of the market right now in Florida before you miss out on these beautiful places to live.
The median household income in Jupiter is about $94,121, with a per capita income of $62,123. However, there is about 7 percent of the population here that does live in poverty. White-collar workers make up about 89 percent of the working population, while blue-collar workers account for only 12 percent. About 16 percent of entrepreneurs in Jupiter, 67 percent work in private companies, and 10 percent work in governmental institutions. In all, Jupiter has a lot to offer its workers, who also make good money. Keep in mind, though, that these numbers do vary due to what career you are in.
In Jupiter, a single adult will spend, on average, $3,563 on food every year, while a family of four will spend about $10,291 on average. However, food and grocery in Jupiter are 5.5 percent more expensive than in other cities in Florida. However, it would be best if you kept in mind that the food cost is not a fixed expense and will vary depending on where you grocery shop, the diet you are on, the size of your family, and how much you eat out. Budgeting here is significant while also checking out some affordable restaurants as well to keep the food costs lower. In all, the national average is slightly higher, so keep that in mind.
Jupiter's average monthly electric hill is about $189 a month. However, utility costs can vary a lot depending on your state, what kind of gas you use, the size of your home, the appliances you use, and especially the weather. Since Jupiter is in Florida and you will live in a lot of warm weather, you need to keep in mind the costs you will be used for air conditioning. On the other hand, the average electricity rate in Jupiter is about 9 percent lower than the state average and also 12 percent lower than the national average.
Healthcare is a large part of the cost of living. The out-of-pocket healthcare cost and insurances are slightly lower than the national average and below what the average is across Florida. For a single adult, the average healthcare costs are about $4,001 a year, while the national average is $4,213. However, these costs will all depend on your plans and the size of your family. On the other hand, Florida is one of the best states to get financial assistance for individual and family health plans under the Affordable Care Act or Obamacare. Make sure you look into all the available plans and find the perfect one for you. In all, the healthcare costs in Jupiter are lower than the national average.
Transportation is something that a lot of people do not account for when thinking about the cost of living somewhere. In Jupiter, about 86 percent of the population commute to work, while 85 percent do nationwide. The average commute time in Jupiter is about 23.4 minutes long, while the national average is slightly longer, about 27 minutes. When deciding the cost of transportation, you need to think about the cost of gas, as well as car maintenance or public transportation. On average, a single person here will spend about $8,999 a year on transportation which is slightly cheaper than the national average of $9,760.
Jupiter does offer a lot of public transportation options as well. On average, a standard one-way fare for an adult is about $1.50, while they also have daily and monthly unlimited ride passes as well that are available for purchase. Knowing your options is essential since this area is popular to visit, traffic may get hectic, and traveling will cost more, especially gas prices.
Taxes do vary from area to area. However, Florida is one of the states that does not have an individual income tax rate. Accounting for the state and federal taxes and Social Security and Medicare payroll taxes, an average adult working in Jupiter will pay about $5,618 per year, which is slightly higher than the statewide average. The minimum 2023 sales tax is about 7 percent. This is the total for the state, county, and city sales tax rates. Breaking it all down, the sales tax rate for Florida is 6 percent, the county sales tax rate is 1 percent, and Jupiter's sales tax rate is 0 percent. In all, the residents in Jupiter have a low average tax burden.
Is Jupiter, FL a safe place to live?
Jupiter has an overall crime rate of 12 per 1,000 residents which makes the crime rate here near the average of all cities and towns of all sizes in America. According to the FBI crime data, the chances of you becoming a victim of crime in this town is 1 in 80. In all, residents tend to say that they do feel safe in their city.
Is it expensive to live in Jupiter?
When comparing both the United States and Florida averages, the cost of living in Jupiter is considered to be slightly higher. Comparing the national cost of living index of 100 to Jupiter's index of 121, you can see that it is just slightly more expensive. However, the costs do vary depending on your house, food, healthcare, utility and other costs.
Is Jupiter considered to be a cheap area?
Since the average cost of living in Jupiter is about 13 percent more expensive than the national average, it is not considered to be the most affordable place to live. Looking at all of the numbers, it puts Juptier in the top 0.5 percent of the most expensive cities in the world.
Is Jupiter, Florida, a tax-friendly state?
Florida is a very tax-friendly state and does not have a state individual income tax. However, the sales tax rate of Florida is currently 6 percent, the county sales tax rates are about 1 percent, and the sales tax rate of Juptier is 0 percent. Overall, the average working adult will pay about $5,618 annually in taxes.
What is the weather like in Jupiter?
In Jupiter, the summers are long, hot, wet, and cloudy, while the winters are short, comfortable, windy, and cloudy. On average, the temperate over the year varies from 50 degrees Fahrenheit to 89 degrees Fahrenheit. However, this is not the right place for you if you dislike humidity.
What salary do I need to live in Jupiter?
The average annual salary in Juptier to live comfortably would be about $60,000, with an hourly rate of $29. Since Jupiter is considered a wealthy city, the cost of living tends to be slightly higher than on average. Being able to live somewhere comfortably is important, however, here it may be a little harder to do so.
Finding the perfect place to live in Jupiter, FL
If you want to move somewhere where you can always enjoy the warm weather, beautiful beaches, historical attractions, etc., this is perfect for you. Sadly, the cost of living is higher than the national average but at that price you pay you will receive many benefits with it. Moving somewhere that you love and know that you can have a future in is very important, so hopefully, after reading this guide, you will be able to decide whether Jupiter is the place you want to call your next home.
If you or anyone you know is interested in searching for homes for sale in Jupiter, Florida, please get in touch with us here so we can connect you with one of our Realty Specialists to help make this transition for you go smoothly. No matter the location, price, or preferences, we are here to help you through every step of the home-buying process to ensure we can find the perfect home that meets all of your needs and lifestyle perfectly.
Please feel free to contact us here today for any questions or help. Suppose you are interested in moving to Jupiter. In that case, you should check out some of our other local area guides, like moving to Jupiter, the best neighborhoods in Jupiter, things to do in Jupiter, moving to Florida, and the best places to live in Florida.
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