Miami Shores, FL Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

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 139, with 100 being the average.

  • The cost of living index in Miami Shores is 1.4x higher than the national average.

  • Miami Shores ranks as the #443 cheapest in Florida out of 459.

  • Miami Shores ranks as the #5,546 cheapest out of 6,412 in the US.

  • The median home value in Miami Shores is $590,100.

  • The median income in Miami Shores is $127,721.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
139
Miami Shores's Overall Cost Of Living
1.4x
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 139, which is 1.4x higher than the national index of 100.

Compared to Florida, Miami Shores has a cost of living index that's 1.4x higher than Florida's index of 101.

The standard of living in Miami Shores ranks as #443 most affordable out of the 459 places we measured in Florida. By definition, that implies Miami Shores ranks as the #16 most expensive place in the Sunshine State.

For more reading on life in Miami Shores, check out:

443 out of 459
In Florida
5,546 out of 6,412
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 101.

  • The Groceries index in Miami Shores is 120.

  • The Health index in Miami Shores is 105.

  • The Housing index in Miami Shores is 212.

  • The Transportation index in Miami Shores is 109.

  • The Utilities index in Miami Shores is 100.

Living Expense Miami Shores Florida National Average
Overall 139 101 100
Services 101 98 100
Groceries 120 101 100
Health 105 96 100
Housing 212 108 100
Transportation 109 98 100
Utilities 100 100 100
For more reading on cost of living around Florida, check out:
Miami Shores Cost of Living Vs. FL

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 2017-2021. The key points are:

  • The Median Home Value in Miami Shores is $590,100.

  • The Median Rent in Miami Shores is $2,050.

  • The Median Income in Miami Shores is $127,721.

  • The Home Value To Income in Miami Shores is 4.6x.

  • The Rent To Monthly Income in Miami Shores is 0.19x.

Statistic Miami Shores Florida United States
Median Home Value $590,100 $248,700 $244,900
Median Rent $2,050 $1,301 $1,163
Median Income $127,721 $61,777 $69,021
Home Value To Income 4.6x 4.0x 3.5x
Rent To Monthly Income 0.19x 0.25x 0.2x
Search Homes For Sale In Miami Shores, FL
$590,100
Median Home Value
$2,050
Median Rent
$127,721
Median Income

Miami Shores, FL Costs By Category

Detailed Miami Shores Services Costs Vs. Florida

Item Miami Shores Florida
Shampoo $1.11 $1.06
Movie $13.23 $10.68
Bowling $22.13 $14.67
Haircut $14.37 $18.62
Beauty Salon $70.0 $39.05

Detailed Miami Shores Groceries Costs Vs. Florida

Item Miami Shores Florida
Ground Beef $4.27 $4.22
Fried Chicken $1.73 $1.39
Milk $3.16 $2.05
Potatoes $3.86 $3.29
Pizza $9.1 $10.62
Beer $10.98 $9.38
Toothpaste $1.87 $2.34

Detailed Miami Shores Health Costs Vs. Florida

Item Miami Shores Florida
Optometrist $105.63 $108.57
Doctor $111.06 $116.17
Dentist $107.78 $99.13

Detailed Miami Shores Transportation Costs Vs. Florida

Item Miami Shores Florida
Gasoline $2.24 $2.22
Tire Balancing $60.69 $50.07

Detailed Miami Shores Utilities Costs Vs. Florida

Item Miami Shores Florida
All Electricity $162.18 $167.67
Phone $188.17 $175.64

Miami Shores SnackAbility

8.5
/10
Overall SnackAbility
Jobs
8.5/10
Housing
9
Affordability
8
Diversity
10
Safety
4
Amenities
9
Education
9
Commute
5

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 113, 0.8x Miami Shores.

  • North Miami, FL has a cost of living index of 100, 0.7x Miami Shores.

  • Tamiami, FL has a cost of living index of 116, 0.8x Miami Shores.

City Population Cost Of Living Vs. Miami Shores
Pembroke Pines, FL 170,346 113 0.8x
North Miami, FL 60,449 100 0.7x
Tamiami, FL 54,525 116 0.8x
Kendale Lakes, FL 53,392 108 0.8x
Coral Gables, FL 49,269 164 1.2x
Golden Glades, FL 33,930 101 0.7x
West Little River, FL 33,284 95 0.7x
Miami Lakes, FL 30,582 125 0.9x
Coral Terrace, FL 25,869 117 0.8x
The Crossings, FL 22,382 116 0.8x

Articles About Florida

Enjoy The Snack?