Cost of Living in Miami, Florida
Rent, everyday costs and taxes in Miami, what each job keeps after paying them, and how the city compares with the rest of the US.
- Population
- 489,812
- Median household income
- $66,337
- Cost of living (US = 100)
- 114.2
- Unemployment rate
- 4.2%
Is Miami a good place to live?
Miami is hard on a single typical paycheck: after taxes, a 1-bedroom rent and everyday costs, a typical worker living alone comes up $4,610 a year short. It works better for higher earners and for people who share housing.
Your own pay and housing may differ. Try your job
- Cost of living14% above the US average (BEA, 2024)
- Rent$2,270 a month for a 1-bedroom (HUD)
- TaxesNo state income tax on wages
Cost of living in Miami
Prices in the Miami-Fort Lauderdale-West Palm Beach, FL area run 14% above the US average. Housing is the biggest difference, at 56% above the US average.
- Housing56% above the US average
- Goods (food, clothing, cars)4% above the US average
- Utilities3% below the US average
- Other services (healthcare and more)9% above the US average
- All items14% above the US average
Monthly budget for one person
| Cost | Monthly | Yearly |
|---|---|---|
| Rent, 1-bedroom | $2,270 | $27,240 |
| Food | $511 | $6,132 |
| Transportation | $404 | $4,848 |
| Healthcare | $384 | $4,608 |
| Utilities | $253 | $3,036 |
| Total before taxes | $3,822 | $45,864 |
Rent by apartment size
| Monthly rent | Miami | Whole metro area |
|---|---|---|
| Studio | $2,089 | $1,953 |
| 1 bedroom | $2,270 | $2,121 |
| 2 bedrooms | $2,746 | $2,564 |
| 3 bedrooms | $3,512 | $3,277 |
| 4 bedrooms | $4,019 | $3,749 |
Living in Miami
How Miami compares with the US on income, housing, work and commuting (Census Bureau, ACS 2024 1-year).
| Measure | Miami | US |
|---|---|---|
| Median household income | $66,337 | $81,604 |
| Median home value | $598,200 | $360,600 |
| Median rent paid | $1,975 | $1,487 |
| Households renting | 67.4% | 34.7% |
| Unemployment rate | 4.2% | 4.6% |
| Living below the poverty line | 19.9% | 12.2% |
| Adults with a bachelor's degree or higher | 39.8% | 36.9% |
| Median age | 38.8 years | 39.2 years |
| Average commute, one way | 27.5 minutes | 27.2 minutes |
| Working from home | 15.7% | 13.3% |
| Commuting by public transit | 7.7% | 3.7% |
Home internet
4 providers offer home internet to at least a quarter of Miami, led by Xfinity, T-Mobile, AT&T, Verizon. Fiber reaches 60.2% of homes and 96.8% can get gigabit speeds. Compare providers in Miami
Pros and cons of living in Miami
Pros
- No state income tax. Florida doesn't tax wages, so more of each paycheck stays with you.
- Fast home internet. 96.8% of homes can get gigabit speeds (FCC).
Cons
- Paychecks don't stretch far. A typical worker living alone comes up $4,610 short each year after taxes, rent and everyday costs.
- Higher cost of living. Prices are 14% above the US average (BEA, 2024).
- Expensive rent. Median rent is $1,975 a month, against $1,487 nationally.
- Higher poverty rate. 19.9% of residents live below the poverty line, against 12.2% nationally.
What your job keeps in Miami
Pick a job, or enter your salary, to see what's left after federal, payroll, state and local taxes, a 1-bedroom rent and everyday costs.
- Typical salary
- $48,640
- Federal income tax
- −$3,657
- Payroll taxes
- −$3,721
- State income tax
- $0
- Rent, 1-bedroom
- −$27,240
- Everyday costs
- −$18,632
a year ($384 a month) for one earner renting a 1-bedroom alone
Pay: BLS OEWS Miami-Fort Lauderdale-West Palm Beach, FL. Rent: HUD FY2027. Taxes: 2026 federal, state and local schedules for a single filer.
A single earner renting a 1-bedroom alone. Sharing housing, or a second income, changes this a lot.
What the most common jobs keep here
The 10 jobs we cover with the most workers in the Miami-Fort Lauderdale-West Palm Beach, FL area.
| Job | Median pay | You keep |
|---|---|---|
| Lawyer | $160,320 | $74,973 |
| Software engineer | $132,650 | $56,060 |
| Project manager | $98,720 | $32,408 |
| Registered nurse | $91,380 | $27,243 |
| Accountant | $80,920 | $19,886 |
| Paralegal | $62,090 | $6,197 |
| Teacher | $58,868 | $3,609 |
| Truck driver | $51,580 | −$2,248 |
| Medical assistant | $44,930 | −$7,591 |
| Nursing assistant | $38,010 | −$13,151 |
Other jobs, A–Z
What each keeps in Miami on its median pay. Pick one in the calculator above for the full breakdown.
- Auto mechanic −$3,879
- Carpenter −$2,255
- Civil engineer $21,876
- Data scientist $52,506
- Dental assistant −$5,236
- Dental hygienist $21,193
- Dentist $83,100
- Diesel mechanic $5,594
- Electrician $3,417
- Financial analyst $36,938
- Firefighter $16,220
- HVAC technician $2,943
- Licensed practical nurse $6,615
- Lineman $30,663
- Mechanical engineer $33,069
- Nurse practitioner $55,164
- Occupational therapist $34,349
- Paramedic $10,909
- Pharmacist $57,810
- Pharmacy technician −$7,342
- Physical therapist $33,920
- Physician assistant $55,862
- Plumber $2,718
- Police officer $19,125
- Radiologic technologist $18,457
- Respiratory therapist $19,857
- Social worker $4,743
- Speech-language pathologist $34,426
- Veterinarian $54,173
- Welder $171
Compare Miami with other cities
Compare Miami with another city: any city or state, any of our 40 jobs.
Moving to Miami
13 licensed interstate movers are based in Miami, and 173 more elsewhere in the Miami-Fort Lauderdale-West Palm Beach, FL area (FMCSA, household-goods authority).
Questions people ask
Is Miami, FL a good place to live?
Miami is hard on a single typical paycheck: after taxes, a 1-bedroom rent and everyday costs, a typical worker living alone comes up $4,610 a year short. It works better for higher earners and for people who share housing. The typical worker here earns $48,640 and would be $4,610 short a year after federal, payroll and state taxes, a 1-bedroom rent and everyday costs, renting alone.
What is the cost of living in Miami?
Prices in the Miami-Fort Lauderdale-West Palm Beach, FL area are 14% above the US average (BEA Regional Price Parities, 2024). A 1-bedroom rents for $2,270 a month (HUD fair market rent, FY2027), and everyday costs for one person, covering food, transportation, healthcare and utilities, come to about $1,553 a month.
How much do you need to earn to live in Miami?
A single person renting a 1-bedroom alone needs about $54,400 a year before tax to cover taxes, rent and everyday costs, with nothing left over. The typical worker in the Miami-Fort Lauderdale-West Palm Beach, FL area earns $48,640.
What is the average rent in Miami?
HUD's fair market rent for FY2027 is $2,089 for a studio, $2,270 for a 1-bedroom and $2,746 for a 2-bedroom. The Census Bureau puts the median rent paid in Miami at $1,975 a month (2024).
Does Miami have a state or city income tax?
Florida has no state income tax on wages. Miami has no local income tax on wages.
What internet providers serve Miami?
4 providers offer home internet to at least a quarter of Miami, led by Xfinity, T-Mobile, AT&T, Verizon. 60.2% of homes can get fiber and 96.8% can get gigabit speeds (FCC National Broadband Map).
Sources and method
Everyday costs: BLS Consumer Expenditure Survey 2024 (one-person households) × CPI-U to August 2026 × BEA Regional Price Parities 2024. Taxes assume a single filer with the standard deduction and wage income only.
- Census Bureau, Vintage 2025 population estimates
- Census Bureau, American Community Survey 2024 1-year estimates
- BLS OEWS May 2025, metropolitan area estimates
- HUD Small Area Fair Market Rents, FY2027
- BLS Consumer Expenditure Surveys 2024, Table 1400 (size of consumer unit)
- BLS Consumer Price Index (CPI-U)
- BEA Regional Price Parities by MSA, 2024
- FCC National Broadband Map, fixed broadband availability (data as of December 31, 2025, released 2026-09-29)
- FMCSA Carrier - All With History (operating authority and insurance)
Data compiled October 13, 2026. How we calculate