Cost of Living in Miami, FL
2024 data from the Bureau of Economic Analysis
Cost Index
114.2
14.2% above avg
Housing Index
155.6
Median Income
$69,085
Median Rent
$1,657/mo
Cost Breakdown
Overall114.2 (+14.2%)
Housing155.6 (+55.6%)
Goods103.6 (+3.6%)
Utilities97.2 (-2.8%)
Other Services109.1 (+9.1%)
National average = 100
Income & Housing
Median Household Income
$69,085/year
Median Home Value
$369,500
Median Monthly Rent
$1,657/mo
Per Capita Income
$39,957/year
Compare Miami, FL With
Frequently Asked Questions
Is Miami, FL expensive to live in?
Miami, FL has a cost of living index of 114.2, which is 14.2% above the national average.
How much does housing cost in Miami, FL?
Housing costs in Miami, FL are indexed at 155.6 compared to the national average of 100. The median monthly rent is $1,657.
What is the average income in Miami, FL?
The median household income in Miami, FL is $69,085 per year.
What is the average home price in Miami, FL?
The median home value in Miami, FL is $369,500.