South Miami, FL Cost Of Living
Cost Of Living In South Miami, FL Summary
Cost of living in South Miami 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 South Miami 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 South Miami is 150, with 100 being the average.
The cost of living index in South Miami is 1.5x higher than the national average.
South Miami ranks as the #441 cheapest in Florida out of 459.
South Miami ranks as the #5,692 cheapest out of 6,489 in the US.
The median home value in South Miami is $854,953.
The median income in South Miami is $88,313.
Table Of Contents
South Miami's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in South Miami, FL?
According to the most recent data on the cost of living, South Miami has an overall cost of living index of 150, which is 1.5x higher than the national index of 100.
Compared to Florida, South Miami has a cost of living index that's 1.5x higher than Florida's index of 97.
The standard of living in South Miami ranks as #441 most affordable out of the 459 places we measured in Florida. By definition, that implies South Miami ranks as the #18 most expensive place in the Sunshine State.
For more reading on life in South Miami, check out:
In Florida
In America
South Miami Cost Of Living Vs. Florida
Six factors go into calculating the cost of living index in South Miami. Here is how it fairs on each of the criteria:
The Services index in South Miami is 107.
The Groceries index in South Miami is 103.
The Health index in South Miami is 95.
The Housing index in South Miami is 261.
The Transportation index in South Miami is 104.
The Utilities index in South Miami is 101.
| Living Expense | South Miami | Florida | National Average | |
|---|---|---|---|---|
| Overall | 150 | 97 | 100 | |
| Services | 107 | 96 | 100 | |
| Groceries | 103 | 99 | 100 | |
| Health | 95 | 98 | 100 | |
| Housing | 261 | 96 | 100 | |
| Transportation | 104 | 97 | 100 | |
| Utilities | 101 | 95 | 100 | |
South 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 2019-2023. The key points are:
The Median Home Value in South Miami is $854,953.
The Median Rent in South Miami is $1,700.
The Median Income in South Miami is $88,313.
The Home Value To Income in South Miami is 9.7x.
The Rent To Monthly Income in South Miami is 0.23x.
| Statistic | South Miami | Florida | United States |
|---|---|---|---|
| Median Home Value | $854,953 | $377,066 | $303,400 |
| Median Rent | $1,700 | $1,564 | $1,348 |
| Median Income | $88,313 | $71,711 | $78,538 |
| Home Value To Income | 9.7x | 5.3x | 3.9x |
| Rent To Monthly Income | 0.23x | 0.26x | 0.21x |
Median Home Value
Median Rent
Median Income
South Miami, FL Costs By Category
Detailed South Miami Services Costs Vs. Florida
| Item | South Miami | 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 South Miami Groceries Costs Vs. Florida
| Item | South Miami | 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 South Miami Health Costs Vs. Florida
| Item | South Miami | Florida |
|---|---|---|
| Optometrist | $98.49 | $125.68 |
| Doctor | $127.08 | $135.78 |
| Dentist | $107.83 | $113.29 |
Detailed South Miami Transportation Costs Vs. Florida
| Item | South Miami | Florida |
|---|---|---|
| Gasoline | $3.49 | $3.46 |
| Tire Balancing | $64.09 | $59.92 |
Detailed South Miami Utilities Costs Vs. Florida
| Item | South Miami | Florida |
|---|---|---|
| All Electricity | $200.94 | $193.99 |
| Phone | $194.37 | $192.25 |
South Miami SnackAbility
/10
Cost Of Living In Cities Around South Miami
The cost of living varies in the cities and towns around South Miami. Here's a quick look at the cost of living in the most populous nearby places:
Kendall, FL has a cost of living index of 134, 0.9x South Miami.
Westchester, FL has a cost of living index of 125, 0.8x South Miami.
Kendale Lakes, FL has a cost of living index of 118, 0.8x South Miami.
| City | Population | Cost Of Living | Vs. South Miami |
|---|---|---|---|
| Kendall, FL | 78,527 | 134 | 0.9x |
| Westchester, FL | 53,082 | 125 | 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 |
| Richmond West, FL | 35,988 | 132 | 0.9x |
| Miami Lakes, FL | 30,731 | 136 | 0.9x |
| Coral Terrace, FL | 24,051 | 128 | 0.9x |
| The Crossings, FL | 22,359 | 125 | 0.8x |
| Country Walk, FL | 18,693 | 133 | 0.9x |
