States › Florida › Bay Harbor Islands

Is Bay Harbor Islands, FL expensive to live in?

ExpensiveRent takes 32 cents of every $1 people earn here.
🏠 Rent per month (2026)$2,56946% higher than U.S. average
💵 Families earn per year (2026)$96,702about $8,059/month · 11% higher than U.S. average
🔑 House price$653,50096% higher than U.S. average

Rent is higher than in 87% of U.S. cities. A typical house costs about 6.8 years of household income, so buying is hard for most locals. Commutes are long, about 30.6 minutes each way. It is a highly educated city: 56.5% of adults have a college degree.

How much money do I need?

To rent here comfortably, you should earn about $102,760 a year. That is $49 an hour at a full-time job.

Is rent cheaper than other Florida cities?

No. Rent here is more expensive than in most of Florida. It is number 406 of 479 cities from cheapest to most expensive.

Bay Harbor Islands
$2,569
Dundee
$1,713
Starke
$690
Belleview
$1,427
Southgate
$1,733
Cocoa West
$1,223
Ocean City
$1,518

How much do households earn in Bay Harbor Islands?

Under $25k
10.8%
$25k–50k
20.2%
$50k–100k
24.7%
$100k–150k
15.0%
$150k+
24.6%

Share of households by yearly income. 39.6% of households earn $100,000 or more.

Rent by apartment size in Bay Harbor Islands

SizeBay Harbor IslandsU.S. average
1 bedroom$1,924$1,324
2 bedrooms$2,827$1,509

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Bay Harbor Islands overall?

Everyday prices in Florida overall are 3% above the U.S. average (index 103.4, U.S. = 100).

Housing
122
Goods (food, clothes…)
98
Utilities
90
Other services
101
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Bay Harbor Islands, so the Florida figure is shown.

Taxes and bills in Bay Harbor Islands

🏛️ Property tax$6,256a year · 0.96% of home value · U.S. $3,119
⚡ Electric bill$145a month (typical) · U.S. $156

Life in Bay Harbor Islands

Commute to work30.6 minU.S.: 26.4 min
College degree56.5%U.S.: 35.7%
Own their home48.9%U.S.: 65.2%
Below poverty line5.4%U.S.: 12.5%
Unemployment3.2%U.S.: 5.2%

Is it cheaper to rent or buy in Bay Harbor Islands?

Renting is cheaper right now: about $1,965 a month less.

Renting
$2,569
Owning
$4,534

Owning assumes a typical $653,500 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $65,350 for the down payment.

Frequently asked questions

What is the average rent in Bay Harbor Islands, FL?

Renting in Bay Harbor Islands costs a median of about $2,569 a month in 2026, including utilities. The Florida median is $1,963.

How much do I need to make to live in Bay Harbor Islands?

To keep rent under 30% of income, you need about $102,760 a year, or $49 an hour at a full-time job.

Is Bay Harbor Islands cheap or expensive?

Bay Harbor Islands is rated Expensive: rent takes 31.9% of the typical household income of $96,702. It ranks 406th cheapest of 479 Florida cities we track.

How much are property taxes in Bay Harbor Islands?

The median homeowner in Bay Harbor Islands pays $6,256 a year in property taxes, about 0.96% of the median home value.

Is Bay Harbor Islands more expensive than the national average?

Overall prices in Florida are 3% above the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Bay Harbor Islands?

The median home value in Bay Harbor Islands is $653,500, about 6.8 times the typical yearly household income.

5,847 people live in Bay Harbor Islands. Numbers are typical (middle) values.