Cost of Living in South Miami, FL
Population 11,926 · Florida · Data vintage 2023
(100 = US avg)
Home prices in South Miami run well above the national baseline, with a median of $737,000, though local incomes keep the cost-to-earnings ratio tighter than in coastal metros with comparable sticker prices. Median household earnings of $88,313 place the city among the better-paid Florida metros.
Located 7 miles southwest of Miami, South Miami falls within that metro's commuting orbit. Median home values run roughly 55% higher than Miami's $475,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in South Miami
The median home value in South Miami is $736,900 — 142% above the national median of $305,000. Median rent runs $1,700/month, 29% higher than the national median of $1,314/month. The median household income of $88,313/year is 18% higher than the US median of $74,580. The local unemployment rate is 3.6%, below the national average of 4.8%. Florida charges no state income tax, a meaningful advantage for take-home pay. Overall, South Miami has a cost of living index of 197 versus the US average of 100, meaning it is 97% 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 South Miami, FL?
South Miami has a cost index of 197 (100 = national average). It is 97% above the national average.
What is average rent in South Miami, FL?
The median gross rent in South Miami is $1,700 per month based on 2023 Census data.
What is the average home price in South Miami?
The median home value in South Miami is $736,900 according to 2023 Census ACS data.
What is the median income in South Miami?
The median household income in South Miami is $88,313 per year (2023 ACS 5-year estimates).
What is the sales tax in South Miami, FL?
The combined state and local sales tax rate in South Miami is 7.0%. Florida has no state income tax.
Is South Miami, FL affordable?
South Miami is above average in cost of living, with an index of 197 — about 97% higher than the national average.
South Miami at a Glance
- Population
- 11,926
- Median Income
- $88,313
- Home Value
- $736,900
- Median Rent
- $1,700/mo
- Unemployment
- 3.6%
- Sales Tax
- 7.0%
Nearby Cities
Explore county-level cost of living data
Florida Rankings
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