salaryRent is higher than in 65% of U.S. cities. Incomes are on the low side for rents this high, so budgets feel tight. A typical house costs about 4.7 years of household income. Commutes are long, about 30.7 minutes each way. Most homes (77.2%) are owned, so rentals can be hard to find.
How much money do I need?
To rent here comfortably, you should earn about $77,120 a year. That is $37 an hour at a full-time job.
Is rent cheaper than other Florida cities?
Yes. Rent here is cheaper than in most of Florida. It is number 219 of 479 cities from cheapest to most expensive.
How much do households earn in Margate?
Share of households by yearly income. 21.1% of households earn $100,000 or more.
Rent by apartment size in Margate
| Size | Margate | U.S. average |
|---|---|---|
| Studio | $1,521 | $1,338 |
| 1 bedroom | $1,705 | $1,324 |
| 2 bedrooms | $1,815 | $1,509 |
| 3 bedrooms | $2,488 | $1,698 |
| 4 bedrooms | $3,330 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Margate 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 Margate, so the Florida figure is shown.
Taxes and bills in Margate
Life in Margate
Is it cheaper to rent or buy in Margate?
Renting is cheaper right now: about $266 a month less.
Owning assumes a typical $316,200 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $31,620 for the down payment.
Frequently asked questions
What is the average rent in Margate, FL?
Renting in Margate costs a median of about $1,928 a month in 2026, including utilities. The Florida median is $1,963.
How much do I need to make to live in Margate?
To keep rent under 30% of income, you need about $77,120 a year, or $37 an hour at a full-time job.
Is Margate cheap or expensive?
Margate is rated Expensive: rent takes 34.4% of the typical household income of $67,352. It ranks 219th cheapest of 479 Florida cities we track.
How much are property taxes in Margate?
The median homeowner in Margate pays $2,672 a year in property taxes, about 0.85% of the median home value.
Is Margate 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 Margate?
The median home value in Margate is $316,200, about 4.7 times the typical yearly household income.
59,198 people live in Margate. Numbers are typical (middle) values.