Miami

Miami, Florida is a mid-size city with a population of approximately 455,924. The overall cost of living index sits at 134, which is significantly above the national average of 100. This means everyday expenses — housing, groceries, transportation, and healthcare — are roughly 34% more expensive compared to the typical U.S. city.

Housing is the largest cost driver in Miami. Median rent is $2,964 per month, while the median home price is $573,963. At a median household income of $59,390, rent consumes roughly 60% of gross income, which places a heavy burden on household budgets. The housing sub-index of 184 highlights significantly elevated shelter costs.

Beyond housing, healthcare is the most elevated non-shelter expense in Miami with a sub-index of 138, while utilities is comparatively more affordable at 123. State-level taxes also shape the true cost of living: Florida applies a 0.00% income tax rate, and property tax averages 0.80% of assessed home value. The combined sales tax rate is 7.05%. Local income tax may apply in some municipalities.

Over the past twelve months, the cost of living in Miami has remained relatively stable. Among the 22 tracked cities in Florida, Miami ranks #22 from most to least affordable. Whether you're evaluating a job offer, planning a relocation, or comparing salary purchasing power, these numbers give a grounded, data-backed view of what life in Miami actually costs.