Salary & Cost of Living in Hollywood, FL
Hollywood, FL: $41,020 median salary, cost of living index 108.2, $13.00/hr minimum wage. Calculate your take-home pay with our free paycheck calculator.
Median Salary
$41,020
$20/hr
Cost of Living
108.2
US avg = 100
Minimum Wage
$13.00
per hour
Unemployment
3.1%
rate
Hollywood, FL Overview
Population
153,067
Median Salary
$41,020
Average Salary
$45,942
Avg Commute
19 min
Median Home Price
$385,000
Median Rent
$1,617/mo
Job Growth
+2.6%
Sales Tax
6%
Hollywood is located in Florida with a population of 153,067. The median household salary is $41,020 per year ($20/hour), which is $18,364 below the national median of $59,384. The average commute time is 19 minutes, and the city has a job growth rate of +2.6%.
Hollywood Paycheck Calculator
Enter your annual salary to see your estimated take-home pay in Hollywood, FL, after federal, state, and local taxes.
Estimated Annual Take-Home Pay
$34,998
$2,916.51/month · $1,346.08/biweekly · Effective Rate: 14.7%
Gross Pay
$41,020
Federal Tax
-$2,884
State Tax
$0
Local Tax
$0
FICA
-$3,138
Net Pay
$34,998
Pay Breakdown
| Item | Monthly | Annual |
|---|---|---|
| Gross Salary | $3,418.33 | $41,020.00 |
| Federal Income Tax | -$240.32 | -$2,883.90 |
| Florida State Tax (0%) | $0.00 | $0.00 |
| Social Security (6.2%) | -$211.94 | -$2,543.24 |
| Medicare (1.45%) | -$49.57 | -$594.79 |
| Net Take-Home Pay | $2,916.51 | $34,998.07 |
Salary Comparison: Hollywood vs Other Cities
See how Hollywood's median salary and cost of living compare to the national average and similar cities.
| City | Median Salary | COL Index | Adj. Salary |
|---|---|---|---|
| Hollywood, FL | $41,020 | 108.2 | $37,911 |
| National Average | $59,384 | 100 | $59,384 |
| Pasadena, TX | $41,019 | 88.5 | $46,349 |
| Lancaster, CA | $41,050 | 108.2 | $37,939 |
| Paradise, NV | $41,057 | 100.5 | $40,853 |
| West Palm Beach, FL | $40,969 | 112.5 | $36,417 |
Adjusted salary reflects purchasing power when cost of living is factored in. A higher adjusted salary means your money goes further.
Cost of Living in Hollywood
Hollywood's cost of living index is 108.2 (national average = 100). Living in Hollywood is 8.200000000000003% more expensive than the national average.
Median Home Price
$385,000
Median Monthly Rent
$1,617
Annual Rent Cost
$19,404
Your Salary's Purchasing Power
Your $34,998 annual take-home pay in Hollywood has the purchasing power of approximately $32,346 in an average-cost US area. You would need to earn $44,384 in Hollywood to match a $41,020 salary in an average-cost city.
Top Industries in Hollywood
Hollywood's economy is driven by these key industries. Workers in top industries often earn significantly above the median salary of $41,020.
Salary Tips for Hollywood Workers
- No state income tax advantage. Florida has no state income tax, which means more of your paycheck stays in your pocket. Invest the savings in a Roth IRA or 401(k) for long-term growth.
- Research top industries. Hollywood's top industries include Tourism, Agriculture, Aerospace. Targeting roles in these sectors can help you earn above the $41,020 median salary.
- Review your W-4 withholding. If you regularly receive large tax refunds, adjust your W-4 to increase your per-paycheck take-home pay instead of giving the government an interest-free loan.
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Frequently Asked Questions
What is the median salary in Hollywood, FL?
The median salary in Hollywood, FL is $41,020 per year, or $20 per hour. The average salary is $45,942. This is $18,364 below the national median of $59,384.
What is the cost of living in Hollywood, FL?
Hollywood's cost of living index is 108.2 (national average = 100), meaning it is 8.200000000000003% more expensive compared to the national average. The median home price is $385,000 and the median monthly rent is $1,617.
What are the best industries in Hollywood?
The top industries in Hollywood, FL include Tourism, Agriculture, Aerospace. The city has a job growth rate of 2.6% and an unemployment rate of 3.1%. Workers in these industries often earn above the city's median salary of $41,020.
How does Hollywood's salary compare to other cities?
Hollywood's median salary of $41,020 is 30.9% below the national median of $59,384. However, when adjusted for cost of living (index: 108.2), the real purchasing power is approximately $37,911.
What is the minimum wage in Hollywood, FL?
The minimum wage in Hollywood, FL is $13.00 per hour. This equals approximately $27,040 per year for a full-time worker (40 hours/week). This is $5.75 above the federal minimum wage of $7.25/hour.