What is the cost of living in Miami, FL?
According to the most recent data on the cost of living, Miami has an overall cost of living index of 131, which is 1.3x higher than the national index of 100.
Compared to Florida, Miami has a cost of living index that's 1.3x higher than Florida's index of 104.
The standard of living in Miami ranks as #397 most affordable out of the 462 places we measured in Florida. By definition, that implies Miami ranks as the #65 most expensive place in the Sunshine State.
For more reading on life in Miami, check out:
Miami Cost Of Living Vs. Florida
Six factors go into calculating the cost of living index in Miami. Here is how it fares on each of the criteria:
The Services index in Miami is 106.
The Groceries index in Miami is 110.
The Health index in Miami is 169.
The Housing index in Miami is 108.
The Transportation index in Miami is 121.
The Utilities index in Miami is 120.
| Living Expense | Miami | Florida | National Average |
|---|---|---|---|
| Overall | 131 | 104 | 100 |
| Services | 106 | 101 | 100 |
| Groceries | 110 | 105 | 100 |
| Health | 169 | 99 | 100 |
| Housing | 108 | 104 | 100 |
| Transportation | 121 | 109 | 100 |
| Utilities | 120 | 105 | 100 |
Miami Cost Of Living Compared To Florida Averages
Index where 100 = national average. Source: cost-of-living index 2026.
For more reading on cost of living around Florida, check out:
Protect your home budget Compare home warranties in Miami Get matched →Source: Cost-of-living index 2026, normalized to US average = 100
Miami, FL Housing Cost Breakdown
Housing swings affordability the most between places in Florida, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2020-2024. The key points are:
The Median Home Value in Miami is $579,563.
The Median Rent in Miami is $1,758.
The Median Income in Miami is $62,462.
The Home Value To Income in Miami is 9.3x.
The Rent To Monthly Income in Miami is 0.34x.
Miami, FL Costs By Category
Detailed Miami Services costs vs. Florida
Detailed Miami Groceries costs vs. Florida
Detailed Miami Health costs vs. Florida
Detailed Miami Transportation costs vs. Florida
Miami SnackAbility
Cost Of Living In Cities Around Miami
The cost of living varies in the cities and towns around Miami. Here's a quick look at the cost of living in the most populous nearby places:
Pembroke Pines, FL has a cost of living index of 124, 0.9x Miami.
Miami Beach, FL has a cost of living index of 137, 1.0x Miami.
Kendale Lakes, FL has a cost of living index of 120, 0.9x Miami.
| City | Population | Cost Of Living | Vs. Miami |
|---|---|---|---|
| Pembroke Pines, FL | 173,194 | 124 | 0.9x |
| Miami Beach, FL | 82,031 | 137 | 1.0x |
| Kendale Lakes, FL | 52,622 | 120 | 0.9x |
| Coral Gables, FL | 49,802 | 191 | 1.5x |
| Richmond West, FL | 35,593 | 133 | 1.0x |
| West Little River, FL | 33,890 | 105 | 0.8x |
| Miami Lakes, FL | 31,553 | 134 | 1.0x |
| Coral Terrace, FL | 24,895 | 128 | 1.0x |
| The Crossings, FL | 22,963 | 126 | 1.0x |
| Country Walk, FL | 19,291 | 132 | 1.0x |
