Photo by: Wikimedia Commons / CC BY-SA 4.0 / Source: Wikipedia – Coral Springs, Florida
Coral Springs is a city in Broward County, Florida. As of 2022, the city had a population of 137,054, with the average cost of living being 24% above the national average.
The city was founded on July 10, 1963, and is known for its beautiful parks and green spaces. Coral Springs is a great place to live, work, and raise a family.
The city has excellent schools, various housing options, and plenty of things to do. So, If you’re considering a move to Coral Springs, FL, you’ll want to be aware of the cost of living.
Housing Costs in Coral Springs
The cost of housing is always a hot topic, and nowhere is this more valid than in the city of Coral Springs. The median home price in Coral Springs is $550,000.
Of course, several factors contribute to this cost, including the city’s proximity to Miami and the desirability of its schools and amenities.
Transportation Costs in Coral Springs
The transportation cost in Coral Springs is 34.6% higher than the national average and 24.5% higher than in Orlando, FL. This metric considers car insurance, maintenance, gasoline, and public transportation costs.
In addition, the city’s convenient location makes it easy to access major highways and travel to nearby towns.
Cost of Food in Coral Springs
For food aficionados, Coral Springs is an excellent place to settle in, and with many grocery stores available in the city, you can easily find a great choice.
However, this may come at a fairly considerable cost, particularly as the cost of feeding in Coral Springs is 7.9% higher than the national average.
While the average household of 4 in the US spends between $673.60 and $1339.80 on groceries monthly. An average family of the same number living in Coral Springs can expect to spend $1459 on food each month.
Childcare Cost in Coral Springs
The annual cost of childcare for two children in Coral Springs, with one child being 4 years old and the other being 8 years old, is $14,151, which is almost $2,000 more than the corresponding average cost of $12,134 across the state of Florida.
Furthermore, there are about 46 child care centers in Coral Springs, which is an advantage when finding suitable and cheap child care for your kids. The cost of childcare in Coral Springs varies depending on the fee collected by the childcare centers.
For example, ABC Workshop of LightHouse Point fees is $125-220, Busy Bees Child Development Center fees range from $100- 250 per week, etc.
While there are some cheaper options available, such as nannies and family daycare, they are often not as reliable or convenient as a professional child care center. Finding quality, affordable child care is crucial for working parents to support their families.
Fortunately, several organizations and programs in Coral Springs can help families with the cost of child care. One is the Early Learning Coalition of Broward County, which offers financial assistance for low-income families.
By taking advantage of these resources, families can find the child care they need at a price they can afford.
Tax Cost in Coral Springs
No one likes paying taxes, but it is important to remember that taxes play a vital role in our society. They help to fund essential services like education and infrastructure, and they also help to ensure that everyone pays their fair share.
The tax rate in Coral Springs is one of the highest in the state of Florida. Compared to Florida’s 6% state sales tax, Coral Springs has a 7% sales tax.
For every $1,000 of assessed value, homeowners must pay $6.0232 in taxes. Homeowners in a region with an average taxable value of $256,213 will pay around $2,293 in property taxes yearly.
School Cost in Coral Springs
Coral Springs is well-known for its excellent, top-rated private and public schools, which provide high-quality education for all ages. However, the cost of schooling in Coral Springs can be slightly higher. For example, the cost of a private school for one child ranges from $800.00 – $1,200.00 per month.
While some scholarships for Coral Springs residents and financial assistants programs are available, it can still be challenging to afford the cost of schooling in Coral Springs.
But despite the higher costs, the quality of education in Coral Springs is worth the price. The schools here are highly ranked, offering a wide range of academic and extracurricular programs that can benefit your child.
So if you’re looking for a top-notch education for your child, consider the schools in Coral Springs. You may find that the cost is worth it.
Utility Cost in Coral Springs
In the City of Coral Springs, the typical resident spends about $207.76 monthly on their utility bill. This includes electricity, water, sewer, and trash service. While this may seem like a lot, it is reasonable compared to the average utility cost in Florida. For example, residents of Florida spend an average of $459.40 per month on utilities.
In addition to being reasonably priced, the utilities in Coral Springs are also reliable and efficient.
The city’s electric grid is powered by clean-burning natural gas. As a result, Coral Springs residents can be confident that they are getting great value and a high level of service from their utility providers.
Conclusion
This high cost of living is driven by several factors, including the high price of housing, the high cost of healthcare, and the high cost of child care. However, Coral Springs offers beautiful weather year-round, excellent schools, and plenty of things to do.
The community is close-knit, and the city has a strong sense of pride. Residents are also amiable and welcoming.
If you need a home in Coral Spring, I would be happy to help you find the perfect home in this beautiful city. Contact me today to get started!
