Cost of Living in Miami
Overall index: 122.5 — 21 points above Florida average. Florida statewide average: 101.4.
Where your money goes in Miami
Estimated spending breakdown on a $75,000 salary in Miami
Estimated annual spending: $83,196($8,196 over budget)
What things cost in Miami
| Item | Miami | Florida avg | US avg |
|---|---|---|---|
| Median home price | $560,000 | $385,000 | $360,000 |
| Average 2BR rent | $2,600/mo | $1,449/mo | $1,400/mo |
| Gas (regular) | $3.63/gal | $3.63/gal | $3.50/gal |
| Electric bill | $111/mo | $111/mo | $137/mo |
| Infant childcare | $15,500/yr | $13,021/yr | $13,500/yr |
Index by category
Miami vs Florida statewide. National average = 100.
Other cities in Florida
FAQ
What is the cost of living in Miami?
Miami has an overall cost-of-living index of 122.5 (national average = 100). This is higher than the Florida statewide average of 101.4. Median home prices are $560,000 and average 2BR rent is $2,600/month.
Is Miami expensive to live in?
Yes, Miami is more expensive than the national average with an index of 122.5. Housing is the biggest factor at 168% of the national average.
How much does rent cost in Miami?
Average 2-bedroom rent in Miami is $2,600/month, compared to the national average of $1,400/month and the Florida statewide average of $1,449/month.
What salary do I need to live in Miami?
A $75,000 salary at the national average cost of living is equivalent to $91,875 in Miami. You'll need a higher income to maintain the same standard of living.
Where does this data come from?
Metro-level data combines BEA Regional Price Parities (2024), C2ER COLI metro indices (2025), Zillow ZHVI/ZORI metro data (2024-2025), and state-level data from MERIC, AAA, EIA, and Child Care Aware.
Related tools
- Florida Cost of Living — Statewide averages and all metro areas
- Florida Paycheck Calculator — Calculate take-home pay
- House Affordability in Florida — How much house can you afford?
- Compare any two states
Metro-level data from BEA Regional Price Parities (2024), C2ER COLI (2025), and Zillow ZHVI (2024-2025). Where metro data is unavailable, Florida statewide averages are used.