Miami Lakes, FL Cost Of Living
Cost Of Living In Miami Lakes, FL Summary
Cost of living in Miami Lakes research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Miami Lakes is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Florida, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Miami Lakes is 136, with 100 being the average.
The cost of living index in Miami Lakes is 1.4x higher than the national average.
Miami Lakes ranks as the #426 cheapest in Florida out of 459.
Miami Lakes ranks as the #5,256 cheapest out of 6,489 in the US.
The median home value in Miami Lakes is $649,162.
The median income in Miami Lakes is $97,255.
Table Of Contents
Miami Lakes's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Miami Lakes, FL?
According to the most recent data on the cost of living, Miami Lakes has an overall cost of living index of 136, which is 1.4x higher than the national index of 100.
Compared to Florida, Miami Lakes has a cost of living index that's 1.4x higher than Florida's index of 97.
The standard of living in Miami Lakes ranks as #426 most affordable out of the 459 places we measured in Florida. By definition, that implies Miami Lakes ranks as the #33 most expensive place in the Sunshine State.
For more reading on life in Miami Lakes, check out:
In Florida
In America
Miami Lakes Cost Of Living Vs. Florida
Six factors go into calculating the cost of living index in Miami Lakes. Here is how it fairs on each of the criteria:
The Services index in Miami Lakes is 106.
The Groceries index in Miami Lakes is 104.
The Health index in Miami Lakes is 95.
The Housing index in Miami Lakes is 204.
The Transportation index in Miami Lakes is 105.
The Utilities index in Miami Lakes is 104.
| Living Expense | Miami Lakes | Florida | National Average | |
|---|---|---|---|---|
| Overall | 136 | 97 | 100 | |
| Services | 106 | 96 | 100 | |
| Groceries | 104 | 99 | 100 | |
| Health | 95 | 98 | 100 | |
| Housing | 204 | 96 | 100 | |
| Transportation | 105 | 97 | 100 | |
| Utilities | 104 | 95 | 100 | |
Miami Lakes, 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 2019-2023. The key points are:
The Median Home Value in Miami Lakes is $649,162.
The Median Rent in Miami Lakes is $2,024.
The Median Income in Miami Lakes is $97,255.
The Home Value To Income in Miami Lakes is 6.7x.
The Rent To Monthly Income in Miami Lakes is 0.25x.
| Statistic | Miami Lakes | Florida | United States |
|---|---|---|---|
| Median Home Value | $649,162 | $377,066 | $303,400 |
| Median Rent | $2,024 | $1,564 | $1,348 |
| Median Income | $97,255 | $71,711 | $78,538 |
| Home Value To Income | 6.7x | 5.3x | 3.9x |
| Rent To Monthly Income | 0.25x | 0.26x | 0.21x |
Median Home Value
Median Rent
Median Income
Miami Lakes, FL Costs By Category
Detailed Miami Lakes Services Costs Vs. Florida
| Item | Miami Lakes | Florida |
|---|---|---|
| Shampoo | $1.53 | $1.28 |
| Movie | $14.35 | $12.13 |
| Bowling | $23.67 | $18 |
| Haircut | $20.53 | $24.26 |
| Beauty Salon | $88.07 | $45.56 |
Detailed Miami Lakes Groceries Costs Vs. Florida
| Item | Miami Lakes | Florida |
|---|---|---|
| Ground Beef | $6.11 | $5.84 |
| Fried Chicken | $1.4 | $1.57 |
| Milk | $4.6 | $4.67 |
| Potatoes | $5.24 | $4.93 |
| Pizza | $14.13 | $12.09 |
| Beer | $11.44 | $10.41 |
| Toothpaste | $3.51 | $3.7 |
Detailed Miami Lakes Health Costs Vs. Florida
| Item | Miami Lakes | Florida |
|---|---|---|
| Optometrist | $98.49 | $125.68 |
| Doctor | $127.08 | $135.78 |
| Dentist | $107.83 | $113.29 |
Detailed Miami Lakes Transportation Costs Vs. Florida
| Item | Miami Lakes | Florida |
|---|---|---|
| Gasoline | $3.49 | $3.46 |
| Tire Balancing | $64.09 | $59.92 |
Detailed Miami Lakes Utilities Costs Vs. Florida
| Item | Miami Lakes | Florida |
|---|---|---|
| All Electricity | $200.94 | $193.99 |
| Phone | $194.37 | $192.25 |
Miami Lakes SnackAbility
/10
Cost Of Living In Cities Around Miami Lakes
The cost of living varies in the cities and towns around Miami Lakes. Here's a quick look at the cost of living in the most populous nearby places:
Hialeah, FL has a cost of living index of 115, 0.8x Miami Lakes.
Pembroke Pines, FL has a cost of living index of 122, 0.9x Miami Lakes.
Miramar, FL has a cost of living index of 122, 0.9x Miami Lakes.
| City | Population | Cost Of Living | Vs. Miami Lakes |
|---|---|---|---|
| Hialeah, FL | 221,901 | 115 | 0.8x |
| Pembroke Pines, FL | 170,557 | 122 | 0.9x |
| Miramar, FL | 135,986 | 122 | 0.9x |
| Miami Gardens, FL | 111,264 | 111 | 0.8x |
| Weston, FL | 67,952 | 152 | 1.1x |
| Kendale Lakes, FL | 52,141 | 118 | 0.9x |
| Tamiami, FL | 51,201 | 124 | 0.9x |
| Country Club, FL | 51,000 | 115 | 0.8x |
| Coral Gables, FL | 49,243 | 188 | 1.4x |
| West Little River, FL | 33,147 | 105 | 0.8x |
