Miami Springs, FL Cost Of Living
Cost Of Living In Miami Springs, FL Summary
Cost of living in Miami Springs 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 Springs 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 Springs is 133, with 100 being the average.
The cost of living index in Miami Springs is 1.3x higher than the national average.
Miami Springs ranks as the #418 cheapest in Florida out of 459.
Miami Springs ranks as the #5,125 cheapest out of 6,489 in the US.
The median home value in Miami Springs is $716,734.
The median income in Miami Springs is $88,705.
Table Of Contents
Miami Springs's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Miami Springs, FL?
According to the most recent data on the cost of living, Miami Springs has an overall cost of living index of 133, which is 1.3x higher than the national index of 100.
Compared to Florida, Miami Springs has a cost of living index that's 1.4x higher than Florida's index of 97.
The standard of living in Miami Springs ranks as #418 most affordable out of the 459 places we measured in Florida. By definition, that implies Miami Springs ranks as the #41 most expensive place in the Sunshine State.
For more reading on life in Miami Springs, check out:
In Florida
In America
Miami Springs Cost Of Living Vs. Florida
Six factors go into calculating the cost of living index in Miami Springs. Here is how it fairs on each of the criteria:
The Services index in Miami Springs is 106.
The Groceries index in Miami Springs is 105.
The Health index in Miami Springs is 95.
The Housing index in Miami Springs is 198.
The Transportation index in Miami Springs is 104.
The Utilities index in Miami Springs is 105.
| Living Expense | Miami Springs | Florida | National Average | |
|---|---|---|---|---|
| Overall | 133 | 97 | 100 | |
| Services | 106 | 96 | 100 | |
| Groceries | 105 | 99 | 100 | |
| Health | 95 | 98 | 100 | |
| Housing | 198 | 96 | 100 | |
| Transportation | 104 | 97 | 100 | |
| Utilities | 105 | 95 | 100 | |
Miami Springs, 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 Springs is $716,734.
The Median Rent in Miami Springs is $1,333.
The Median Income in Miami Springs is $88,705.
The Home Value To Income in Miami Springs is 8.1x.
The Rent To Monthly Income in Miami Springs is 0.18x.
| Statistic | Miami Springs | Florida | United States |
|---|---|---|---|
| Median Home Value | $716,734 | $377,066 | $303,400 |
| Median Rent | $1,333 | $1,564 | $1,348 |
| Median Income | $88,705 | $71,711 | $78,538 |
| Home Value To Income | 8.1x | 5.3x | 3.9x |
| Rent To Monthly Income | 0.18x | 0.26x | 0.21x |
Median Home Value
Median Rent
Median Income
Miami Springs, FL Costs By Category
Detailed Miami Springs Services Costs Vs. Florida
| Item | Miami Springs | 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 Springs Groceries Costs Vs. Florida
| Item | Miami Springs | 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 Springs Health Costs Vs. Florida
| Item | Miami Springs | Florida |
|---|---|---|
| Optometrist | $98.49 | $125.68 |
| Doctor | $127.08 | $135.78 |
| Dentist | $107.83 | $113.29 |
Detailed Miami Springs Transportation Costs Vs. Florida
| Item | Miami Springs | Florida |
|---|---|---|
| Gasoline | $3.49 | $3.46 |
| Tire Balancing | $64.09 | $59.92 |
Detailed Miami Springs Utilities Costs Vs. Florida
| Item | Miami Springs | Florida |
|---|---|---|
| All Electricity | $200.94 | $193.99 |
| Phone | $194.37 | $192.25 |
Miami Springs SnackAbility
/10
Cost Of Living In Cities Around Miami Springs
The cost of living varies in the cities and towns around Miami Springs. 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, 0.9x Miami Springs.
Pembroke Pines, FL has a cost of living index of 122, 0.9x Miami Springs.
Doral, FL has a cost of living index of 139, 1.0x Miami Springs.
| City | Population | Cost Of Living | Vs. Miami Springs |
|---|---|---|---|
| Hialeah, FL | 221,901 | 115 | 0.9x |
| Pembroke Pines, FL | 170,557 | 122 | 0.9x |
| Doral, FL | 76,490 | 139 | 1.0x |
| Fountainebleau, FL | 56,453 | 112 | 0.8x |
| Kendale Lakes, FL | 52,141 | 118 | 0.9x |
| Coral Gables, FL | 49,243 | 188 | 1.4x |
| Richmond West, FL | 35,988 | 132 | 1.0x |
| West Little River, FL | 33,147 | 105 | 0.8x |
| Miami Lakes, FL | 30,731 | 136 | 1.0x |
| Coral Terrace, FL | 24,051 | 128 | 1.0x |
