Miami Beach, FL Cost Of Living

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Updated: 2020-03-08
Miami Beach's Overall Cost Of Living
Higher Than The National Average
The cost of living index is set to 100 for the average place in America. An index above 100 means Miami Beach is expensive, while a number below 100 means it's a relatively cheap place to live.

What is the cost of living in Miami Beach, FL?

According to the most recent data on the cost of living, Miami Beach has an overall cost of living index of 129 which is 1.3x higher than the national index of 100.

Compared to only Florida, Miami Beach has a cost of living index that's 1.3x higher than Florida's index of 99.

The standard of living in Miami Beach ranks as #5220 most affordable out of the 6522 places we measured in Florida. By definition, that implies Miami Beach ranks as the #1187 most expensive place in the Sunshine State.

Miami Beach Cost Of Living Vs. Florida

Living Expense Miami Beach Florida National Average
Overall 129 99 100
Services 99 99 100
Groceries 111 105 100
Health 107 100 100
Housing 189 96 100
Transportation 112 98 100
Utilities 98 102 100
For more reading on cost of living around Florida, check out:
Miami Beach Cost of Living Vs. FL

Miami Beach, FL Housing Cost Breakdown

Housing swings affordability the most between places in Florida, so we broke down the statistics around housing costs into more detail. It's also important to consider median household incomes to make apples-to-apples comparisons across locations.

Home and income come data comes from the most recent US Census ACS 2014-2018.

Median Home Value
Median Rent
Median Income
Statistic Miami Beach Florida United States
Median Home Value $443,400 $196,800 $204,900
Median Rent $1,338 $1,128 $1,023
Median Income $53,348 $53,267 $60,293
Home Value To Income 8.3x 3.7x 3.4x
Rent To Monthly Income 0.3x 0.25x 0.2x

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Cost Of Living In Cities Around Miami Beach

City Population Cost Of Living Vs. Miami Beach
Miami, FL 451,214 109 0.8x
Pembroke Pines, FL 168,260 111 0.9x
Kendale Lakes, FL 58,395 107 0.8x
Tamiami, FL 57,514 112 0.9x
Coral Gables, FL 50,931 165 1.3x
Miami Lakes, FL 31,050 123 1.0x
Coral Terrace, FL 25,234 115 0.9x
The Crossings, FL 23,558 115 0.9x
Palmetto Estates, FL 15,970 105 0.8x
Sunset, FL 15,770 121 0.9x

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