Cost of Living in Miami Shores, FL
Population 11,627 · Florida · Data vintage 2023
(100 = US avg)
Housing in Miami Shores sits 159% above the national median — $789,000 for the typical home — but median household incomes near $137,873 (85% above the US figure) soften the blow that similar pricing creates in lower-wage metros. Unemployment has stayed elevated relative to the national figure — 6.5% as of the most recent ACS release — which shows up in household-income and poverty figures as well.
Geographically, Miami Shores sits roughly 7 miles north of Miami. Median home values run roughly 66% higher than Miami's $475,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Miami Shores
The median home value in Miami Shores is $788,600 — 159% above the national median of $305,000. Median rent runs $2,233/month, 70% higher than the national median of $1,314/month. The median household income of $137,873/year is 85% higher than the US median of $74,580. The local unemployment rate is 6.5%, above the national average of 4.8%. Florida charges no state income tax, a meaningful advantage for take-home pay. Overall, Miami Shores has a cost of living index of 223 versus the US average of 100, meaning it is 123% more expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
Frequently Asked Questions
What is the cost of living in Miami Shores, FL?
Miami Shores has a cost index of 223 (100 = national average). It is 123% above the national average.
What is average rent in Miami Shores, FL?
The median gross rent in Miami Shores is $2,233 per month based on 2023 Census data.
What is the average home price in Miami Shores?
The median home value in Miami Shores is $788,600 according to Zillow and Census data.
What is the median income in Miami Shores?
The median household income in Miami Shores is $137,873 per year (2023 ACS 5-year estimates).
What is the sales tax in Miami Shores, FL?
The combined state and local sales tax rate in Miami Shores is 7.0%. Florida has no state income tax.
Is Miami Shores, FL affordable?
Miami Shores is above average in cost of living, with an index of 223 — about 123% higher than the national average.
Miami Shores at a Glance
- Population
- 11,627
- Median Income
- $137,873
- Home Value
- $788,600
- Median Rent
- $2,233/mo
- Unemployment
- 6.5%
- Sales Tax
- 7.0%
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Florida Rankings
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