Miami Shores, FL Cost Of Living
Cost Of Living In Miami Shores, FL Summary
Cost of living in Miami Shores 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 Shores 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 Shores is 147, with 100 being the average.
The cost of living index in Miami Shores is 1.5x higher than the national average.
Miami Shores ranks as the #440 cheapest in Florida out of 459.
Miami Shores ranks as the #5,616 cheapest out of 6,489 in the US.
The median home value in Miami Shores is $721,289.
The median income in Miami Shores is $137,873.
Table Of Contents
Miami Shores's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Miami Shores, FL?
According to the most recent data on the cost of living, Miami Shores has an overall cost of living index of 147, which is 1.5x higher than the national index of 100.
Compared to Florida, Miami Shores has a cost of living index that's 1.5x higher than Florida's index of 97.
The standard of living in Miami Shores ranks as #440 most affordable out of the 459 places we measured in Florida. By definition, that implies Miami Shores ranks as the #19 most expensive place in the Sunshine State.
For more reading on life in Miami Shores, check out:
In Florida
In America
Miami Shores Cost Of Living Vs. Florida
Six factors go into calculating the cost of living index in Miami Shores. Here is how it fairs on each of the criteria:
The Services index in Miami Shores is 104.
The Groceries index in Miami Shores is 104.
The Health index in Miami Shores is 94.
The Housing index in Miami Shores is 253.
The Transportation index in Miami Shores is 104.
The Utilities index in Miami Shores is 104.
| Living Expense | Miami Shores | Florida | National Average | |
|---|---|---|---|---|
| Overall | 147 | 97 | 100 | |
| Services | 104 | 96 | 100 | |
| Groceries | 104 | 99 | 100 | |
| Health | 94 | 98 | 100 | |
| Housing | 253 | 96 | 100 | |
| Transportation | 104 | 97 | 100 | |
| Utilities | 104 | 95 | 100 | |
Miami Shores, 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 Shores is $721,289.
The Median Rent in Miami Shores is $2,233.
The Median Income in Miami Shores is $137,873.
The Home Value To Income in Miami Shores is 5.2x.
The Rent To Monthly Income in Miami Shores is 0.19x.
| Statistic | Miami Shores | Florida | United States |
|---|---|---|---|
| Median Home Value | $721,289 | $377,066 | $303,400 |
| Median Rent | $2,233 | $1,564 | $1,348 |
| Median Income | $137,873 | $71,711 | $78,538 |
| Home Value To Income | 5.2x | 5.3x | 3.9x |
| Rent To Monthly Income | 0.19x | 0.26x | 0.21x |
Median Home Value
Median Rent
Median Income
Miami Shores, FL Costs By Category
Detailed Miami Shores Services Costs Vs. Florida
| Item | Miami Shores | 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 Shores Groceries Costs Vs. Florida
| Item | Miami Shores | 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 Shores Health Costs Vs. Florida
| Item | Miami Shores | Florida |
|---|---|---|
| Optometrist | $98.49 | $125.68 |
| Doctor | $127.08 | $135.78 |
| Dentist | $107.83 | $113.29 |
Detailed Miami Shores Transportation Costs Vs. Florida
| Item | Miami Shores | Florida |
|---|---|---|
| Gasoline | $3.49 | $3.46 |
| Tire Balancing | $64.09 | $59.92 |
Detailed Miami Shores Utilities Costs Vs. Florida
| Item | Miami Shores | Florida |
|---|---|---|
| All Electricity | $200.94 | $193.99 |
| Phone | $194.37 | $192.25 |
Miami Shores SnackAbility
/10
Cost Of Living In Cities Around Miami Shores
The cost of living varies in the cities and towns around Miami Shores. 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 122, 0.8x Miami Shores.
North Miami, FL has a cost of living index of 112, 0.8x Miami Shores.
Kendale Lakes, FL has a cost of living index of 118, 0.8x Miami Shores.
| City | Population | Cost Of Living | Vs. Miami Shores |
|---|---|---|---|
| Pembroke Pines, FL | 170,557 | 122 | 0.8x |
| North Miami, FL | 59,429 | 112 | 0.8x |
| Kendale Lakes, FL | 52,141 | 118 | 0.8x |
| Tamiami, FL | 51,201 | 124 | 0.8x |
| Coral Gables, FL | 49,243 | 188 | 1.3x |
| Golden Glades, FL | 35,042 | 115 | 0.8x |
| West Little River, FL | 33,147 | 105 | 0.7x |
| Miami Lakes, FL | 30,731 | 136 | 0.9x |
| Coral Terrace, FL | 24,051 | 128 | 0.9x |
| The Crossings, FL | 22,359 | 125 | 0.9x |
