Cost of Living in Miami, FL
Miami has a cost of living index of 127 (100 = national average), making it significantly more expensive than the national average. The median household income is $44,268 and the median home price is $580,000.
Compare Locations
Your current annual gross salary
Your current monthly rent or mortgage payment
Select two states and enter your salary to compare costs
Miami at a Glance
Population
449,514
Cost of Living Index
127
Median Income
$44,268
Median Home Price
$580,000
Property Tax Rate
0.97%
Sales Tax Rate
7.00%
Rent Index
140
State
Florida
Living in Miami
Miami is one of the more expensive cities in the United States. Housing costs are a major factor, with the median home price at $580,000. However, the median household income of $44,268 partially offsets the higher costs.
The combined sales tax rate in Miami is 7.00%, and the effective property tax rate is 0.97%. Property taxes are close to the national average.