Cost of Living in Miami, FL
Population 446,663 · Florida · Data vintage 2023
(100 = US avg)
Most of Miami's cost indicators track within a reasonable band of national figures, with median household incomes near $59,390 — a more representative starting point for relocation math than the headline-expensive or headline-cheap cities on either tail.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Miami
The median home value in Miami is $475,200 — 56% above the national median of $305,000. Median rent runs $1,657/month, 26% higher than the national median of $1,314/month. The median household income of $59,390/year is 20% lower than the US median of $74,580. The local unemployment rate is 5.0%, above the national average of 4.8%. Florida charges no state income tax, a meaningful advantage for take-home pay. The climate averages highs of 81.2°F and lows of 70.9°F. Overall, Miami has a cost of living index of 144 versus the US average of 100, meaning it is 44% 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
🌤 Climate
NOAA 1991–2020 Climate Normals
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High °F | 74 | 75 | 77 | 80 | 83 | 86 | 88 | 88 | 87 | 84 | 79 | 76 |
| Low °F | 61 | 63 | 65 | 70 | 74 | 77 | 78 | 78 | 77 | 74 | 69 | 65 |
| Precip" | 2.33 | 2.27 | 2.47 | 3.44 | 4.94 | 7.76 | 5.98 | 7.51 | 8.45 | 6.49 | 3.29 | 2.25 |
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
🏫 Schools
NCES CCD 2019 — public school district data
Frequently Asked Questions
What is the cost of living in Miami, FL?
Miami has a cost index of 144 (100 = national average). It is 44% above the national average.
What is average rent in Miami, FL?
The median gross rent in Miami is $1,657 per month based on 2023 Census data.
What is the average home price in Miami?
The median home value in Miami is $475,200 according to Zillow and Census data.
What is the median income in Miami?
The median household income in Miami is $59,390 per year (2023 ACS 5-year estimates).
What is the sales tax in Miami, FL?
The combined state and local sales tax rate in Miami is 7.0%. Florida has no state income tax.
Is Miami, FL affordable?
Miami is above average in cost of living, with an index of 144 — about 44% higher than the national average.
What is the weather like in Miami?
Miami has average high temperatures of 81.2°F and average lows of 70.9°F. Annual precipitation is 57.2". Data from NOAA 1991–2020 Climate Normals.
Miami at a Glance
- Population
- 446,663
- Median Income
- $59,390
- Home Value
- $475,200
- Median Rent
- $1,657/mo
- Unemployment
- 5.0%
- Avg High Temp
- 81.2°F
- Sales Tax
- 7.0%
Nearby Cities
Explore county-level cost of living data
Florida Rankings
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