Cost of Living in Miami, FL (2026)

Miami's cost of living is 14% above the US average. $100,000 here is worth about $87,600 nationally. Rent, homes and monthly costs.

Miami has a cost-of-living index of 114 against a US average of 100 — about 14% above average. $100,000 of income here is worth roughly $87,600 at the national average.

What it costs to live in Miami

MeasureMiamiUS average
Cost-of-living index114100
Median rent$1,657/mo-
Median home value$475,200-
Median household income$59,390-
Population446,663-

Monthly cost breakdown in Miami

Estimates use BLS Consumer Expenditure Survey shares scaled by the local cost-of-living index. Housing uses the city’s median rent; the owning column uses a 30-year mortgage at 6.7% with 10% down on the median home.

CategoryRentingOwning
Housing$1,657$2,760
Transport$927$927
Food$729$729
Healthcare$458$458
Other$1,627$1,627
Total$5,397$6,500

Affordability in Miami

Median rent takes about 33.5% of the median household income in Miami — above the 30% rule of thumb.

The median home costs 8.0x the median household income. Three times income is the traditional comfort line; five times is where affordability usually breaks down.

Highest-paying roles in Miami

RoleTypical salaryWorth nationally
Marketing Manager$137,270$120,249
Software Developer$129,330$113,293
Mechanical Engineer$96,680$84,692
Dental Hygienist$94,948$83,175
Physical Therapist$93,920$82,274
Data Scientist$93,540$81,941
Police Officer$89,570$78,463
Financial Analyst$88,880$77,859

“Worth nationally” adjusts each salary for Miami’s cost of living, so you can compare offers between cities on equal terms.

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Frequently asked questions

Miami has a cost-of-living index of 114 against a US average of 100, so it is about 14% above the national average. In practical terms, $100,000 of income in Miami has roughly the purchasing power of $87,600 at the national average.

A common benchmark is keeping rent at or under 30% of gross income. At Miami's median rent of $1,657/month that implies about $66,280 a year before tax. The median household in Miami earns $59,390.

Renting, a single household spends roughly $5,397 a month in Miami across housing, transport, food, healthcare and everything else. Buying at the median home price, the estimate is about $6,500 a month including a 30-year mortgage at 6.7% with 10% down.

The median home in Miami costs $475,200, which is 8.0x the median household income of $59,390. Lenders traditionally treat 3x as comfortable and about 5x as stretched, so Miami is expensive relative to local incomes.