Simply put, the cost of living is the amount of money an individual needs to cover their basic expenses. This varies depending on the particular location they’re living in at a given time period.Â
The cost of living is often used to compare the affordability of living in a city, state, or country compared to a person’s current place of residence. The basic expenses included are housing, food, transportation, healthcare, and miscellaneous expenses.
Learning about the Coral Gables cost of living is particularly helpful if you are considering relocating to The City Beautiful. This can help you determine if your plans of moving would be beneficial for you, given your projected income.
Coral Gables Cost of Living: An Overview
The overall cost of living in Coral Gables, Florida, is 21% higher than the national average. The average cost of living is $2,819.
Housing is typically the largest expense for most households in the United States. In Coral Gables, housing is 236% higher compared to the national average.Â
Food and groceries, like produce, dry goods, and other essential household items, cost 11% higher in Coral Gables, while healthcare costs 8% lower.
Housing Costs in Coral Gables, FL
Coral Gables housing costs mainly consists of mortgage or rental payments, but maintenance and renovation costs may also be included as a part of your monthly housing costs.
As of June 2025, the average home value in Coral Gables is $1,487,707. Homes for sale go pending in around 60 days.
The median list price is $1,479,630, while the median sale price is $1,588,333. 5.5% of home sales are over list price, while 82.6% of sales are under list price.
In terms of the rental market, the average monthly rent in Coral Gables as of July 2025 is $2,583. This is 58% higher than the national average rent of $1,637.
Below, you’ll find the average monthly rents in Coral Gables, FL, for apartments, houses, townhomes, and condos:
Average Monthly Rent for Apartments in Coral Gables, FL:
| Floor Plan Type | Average Monthly Rent | Average Size |
|---|---|---|
| Studio | $2,276 | 490 square feet |
| One Bedroom | $2,583 | 687 square feet |
| Two Bedrooms | $3,737 | 1,063 square feet |
| Three Bedrooms | $6,145 | 1,502 square feet |
Average Monthly Rent for Houses in Coral Gables, FL:
| Floor Plan Type | Average Monthly Rent | Average Size |
|---|---|---|
| One Bedroom | $2,848 | 980 square feet |
| Two Bedroom | $3,851 | 1,229 square feet |
| Three Bedrooms | $6,695 | 1,762 square feet |
| Four Bedrooms | $16,549 | 3,365 square feet |
Average Monthly Rent for Townhomes in Coral Gables, FL:
| Floor Plan Type | Average Monthly Rent | Average Size |
|---|---|---|
| One Bedroom | $2,750 | 655 square feet |
| Two Bedroom | $3,862 | 1,270 square feet |
| Three Bedrooms | $7,475 | 2,104 square feet |
| Four Bedrooms | $11,554 | 2,719 square feet |
Average Monthly Rent for Condos in Coral Gables, FL:
| Floor Plan Type | Average Monthly Rent | Average Size |
|---|---|---|
| One Bedroom | $2,633 | 942 square feet |
| Two Bedroom | $4,528 | 1,090 square feet |
| Three Bedrooms | $11,613 | 1,826 square feet |
| Four Bedrooms | $24,283 | 2,965 square feet |
Other Major Living Expenses
Food and Groceries
The cost of food and groceries are part of Coral Gables living expenses. These are 11% higher compared to the national average.
Below, you’ll see the average costs of food and grocery items in Coral Gables, FL:
| Food and Beverage Items at a Restaurant | Average Cost |
|---|---|
| Lunch Menu | $24.90 |
| Dinner for 2 People at a Restaurant | $91.00 |
| Meal at a Fast-Food Restaurant | $11.70 |
| Beer at a Pub (16 fl oz) | $6.92 |
| Cappuccino (regular) | $5.28 |
| Coke/Pepsi (0.33-liter bottle) | $3.02 |
| Grocery Items | Average Cost |
|---|---|
| Milk (1 liter) | $1.15 |
| Loaf of Fresh White Bread (500g) | $3.67 |
| Eggs (regular, 12) | $5.06 |
| Rice (white, 1kg) | $4.72 |
| Cheese (1kg) | $13.40 |
| Round Steak (1kg) | $19.20 |
| Apples (1kg) | $4.98 |
| Banana (1kg) | $1.68 |
| Oranges (1kg) | $4.45 |
| Tomato (1kg) | $4.47 |
| Potato (1kg) | $2.95 |
| Onion (1kg) | $3.53 |
Utilities
Utility expenses in Coral Gables, FL, are 5% higher than the national average. This typically includes internet, electricity, water, sewer, and gas. The average cost of utilities will vary depending on your living situation and location.
| Coral Gables, FL | National Average | |
|---|---|---|
| Monthly Energy Bill | $222.83 | $207.40 |
| Monthly Phone Bill | $197.72 | $195.49 |
Transportation
Transportation costs in Coral Gables is close to the national average, at 1% higher.
| Coral Gables, FL | National Average | |
|---|---|---|
| Gas (Per Gallon) | $3.37 | $3.24 |
| Tire Rotation | $58.65 | $62.82 |
Healthcare
Healthcare costs typically consist of medical prescriptions, doctor visits, and other health-related services. In Coral Gables, FL, healthcare expenses are 8% less than the national average.
| Coral Gables, FL | National Average | |
|---|---|---|
| Dentist Visit | $111.23 | $118.71 |
| Doctor Visit | $125.56 | $145.43 |
| Optometrist Visit | $104.08 | $131.82 |
| OTC Pain Relief | $11.16 | $11.08 |
| Prescription Drug | $19.99 | $20.78 |
Miscellaneous
Miscellaneous expenses include costs beyond the basic necessities, like food and housing. In Coral Gables, these expenses are 7% higher than the national average.
| Coral Gables, FL | National Average | |
|---|---|---|
| Dry Cleaning | $21.21 | $17.30 |
| Haircut | $88.01 | $49.12 |
| Movie Ticket | $16.52 | $12.52 |
| To-Go Latte | $5.92 | $5.57 |
| Prescription Drug | $19.99 | $20.78 |
| Yoga Class | $26.10 | $18.94 |
| Hamburger | $6.06 | $5.67 |
| Pizza | $15.00 | $12.36 |
| Fried Chicken | $5.42 | $5.36 |
| Appliance Repair | $81.53 | $95.67 |
| Tennis Balls | $4.19 | $3.96 |
| Veterinary Services | $11.20 | $10.21 |
Salary Needed to Live Comfortably in Coral Gables, FL
To live comfortably in Coral Gables, FL, a living wage of $24.77 is required for an adult individual with no children. For two working adults with two children, the living wage required is $26.82 for each adult.
The living wage is the hourly rate that an individual working full-time (2,080 hours per year) must earn to be able to support themselves and/or their family.Â
In terms of average salary, Coral Gables’ hourly wage is $26.16. This translates to $54,420 annually. Most salaries in the city range between $40,336 and $66,953 annually. Of course, your salary will depend on your occupation, experience, and other factors.
Conclusion
The cost of living in Coral Gables may be high, but it offers a high quality of life with beautiful scenery, upscale amenities, top-notch schools, cultural attractions, recreational opportunities, and a strong sense of community.
If you’d like to explore the neighborhoods in Coral Gables, FL, give me a call today at 305-776-2992 or send me an email at gregory@letsgoREALTY.COM to schedule an appointment.
Frequently Asked Questions
Is Coral Gables, FL, expensive to live in?
Given that the overall cost of living in Coral Gables, FL, is 21% higher than the national average, the city is relatively expensive to live in.
What is the average monthly rent in Coral Gables, FL?
The average monthly rent in Coral Gables as of July 2025 is $2,583. This is 58% higher than the national average rent of $1,637.
What salary is needed to live comfortably in Coral Gables?
To live comfortably in Coral Gables, FL, a living wage of $24.77 is required for an adult individual with no children. For two working adults with two children, the living wage required is $26.82 for each adult.
What is the median home price in Coral Gables?
The median list price in in Coral Gables is $1,479,630, while the median sale price is $1,588,333.
Are food prices high in Coral Gables, FL?
The cost of food and groceries in Coral Gables is 11% higher compared to the national average.
