Margate, FL
Population 58,418 · Florida
About Margate, FL
Margate is a mid-sized city located in Florida with a population of 58,418 residents according to the latest US Census Bureau American Community Survey data. The median household income is $60,852 per year, which is 19% below the national median of $75,149. The median age of 45.7 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Margate features a median home value of $286,200, which is 17% above the national median of $244,900. This positions Margate in a moderately priced market relative to the rest of the country. Median monthly rent is $1,662, 43% above the national average of $1,163/month. Of the 27,002 total housing units, 77% are owner-occupied (18,984 units) and 23% are renter-occupied (5,650 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Margate shows an unemployment rate of 4.3%, which is near the national rate of 3.7%. The poverty rate stands at 11.6%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Margate have an average one-way commute time of 29.3 minutes.
Education & Demographics
25.0% of Margate residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 1.4% White, 0.9% Hispanic or Latino, 7.2% Black or African American, and 15.6% Asian residents, with 39.2% of the population being foreign-born.
Cost of Living in Margate, FL
Compared to national averages, Margate has a median household income of $60,852 (19% below the national median of $75,149). Home values average $286,200, which is 17% above the national median. Monthly rent at $1,662 is 43% above the US average of $1,163. Within Florida, Margate's income is 20% below the state average of $75,893, and home values are 19% below the state median of $353,675.
Why Live in Margate, FL?
Margate offers a low poverty rate of 11.6%, better than the national average.
Potential considerations include median household income ($60,852) that falls below the national average. However, as a mid-sized city, Margate provides access to a wide range of amenities and services.
Margate has a population of 58,418 with a median age of 45.7 years. Compare Margate with other cities to see how it stacks up, or explore all cities in Florida.
Similar Cities Near Margate
Cities in Florida with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| The Hammocks | 58,548 | $83,253 | $437,700 | Compare |
| Coconut Creek | 57,587 | $75,516 | $291,000 | Compare |
| North Miami | 59,429 | $51,909 | $326,300 | Compare |
| Palm Beach Gardens | 59,751 | $110,563 | $554,300 | Compare |
| Fountainebleau | 56,453 | $65,568 | $284,600 | Compare |
| Four Corners | 60,443 | $74,202 | $312,300 | Compare |
| Bradenton | 56,289 | $60,964 | $282,500 | Compare |
| Sarasota | 56,218 | $70,065 | $409,700 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Florida
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Margate With Other Cities
Frequently Asked Questions about Margate
What is the population of Margate, FL?
The population of Margate, FL is 58,418 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Florida.
What is the median household income in Margate?
The median household income in Margate, FL is $60,852 per year, which is 19% below the national median of $75,149.
What is the median home value in Margate?
The median home value in Margate, FL is $286,200, which is 17% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Margate?
The median monthly rent in Margate, FL is $1,662, which is 43% above the national average of $1,163/month.
What is the unemployment rate in Margate?
The unemployment rate in Margate, FL is 4.3%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Margate, FL a good place to live?
Margate offers a moderate cost of living, a competitive housing market, and growing employment opportunities. With a population of 58,418 and a median age of 45.7, the city appeals to established professionals and retirees.
How educated is Margate, FL?
25.0% of residents in Margate aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Margate?
Key cost-of-living indicators for Margate, FL: median home value is $286,200 (17% above national), median rent is $1,662/month, and median household income is $60,852. The home-value-to-income ratio is 4.7x, a moderate figure by national standards.
What is the poverty rate in Margate?
The poverty rate in Margate, FL is 11.6%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Margate, FL?
Margate's population is 1.4% White, 0.9% Hispanic or Latino, 7.2% Black or African American, 15.6% Asian, and 32.9% two or more races. 39.2% of residents are foreign-born.