salaryRent here is among the highest 10% in the country. Household incomes are higher than in 88% of U.S. cities. A typical house costs about 7.5 years of household income, so buying is hard for most locals. It is a highly educated city: 73.6% of adults have a college degree.
How much money do I need?
To rent here comfortably, you should earn about $122,800 a year. That is $59 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 460 of 479 cities from cheapest to most expensive.
How much do households earn in Coral Gables?
Share of households by yearly income. 53.2% of households earn $100,000 or more.
Rent by apartment size in Coral Gables
| Size | Coral Gables | U.S. average |
|---|---|---|
| Studio | $1,732 | $1,338 |
| 1 bedroom | $2,148 | $1,324 |
| 2 bedrooms | $2,747 | $1,509 |
| 3 bedrooms | $3,500+ | $1,698 |
| 4 bedrooms | $3,500+ | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Coral Gables overall?
Everyday prices in Florida overall are 3% above the U.S. average (index 103.4, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Coral Gables, so the Florida figure is shown.
Taxes and bills in Coral Gables
Life in Coral Gables
Is it cheaper to rent or buy in Coral Gables?
Renting is cheaper right now: about $4,492 a month less.
Owning assumes a typical $1,089,900 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $108,990 for the down payment.
Frequently asked questions
What is the average rent in Coral Gables, FL?
Renting in Coral Gables costs a median of about $3,070 a month in 2026, including utilities. The Florida median is $1,963.
How much do I need to make to live in Coral Gables?
To keep rent under 30% of income, you need about $122,800 a year, or $59 an hour at a full-time job.
Is Coral Gables cheap or expensive?
Coral Gables is rated OK: rent takes 25.5% of the typical household income of $144,752. It ranks 460th cheapest of 479 Florida cities we track.
How much are property taxes in Coral Gables?
The median homeowner in Coral Gables pays $9,124 a year in property taxes, about 0.84% of the median home value.
Is Coral Gables 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 Coral Gables?
The median home value in Coral Gables is $1,089,900, about 7.5 times the typical yearly household income.
49,802 people live in Coral Gables. Numbers are typical (middle) values.