Cost of Living in Miami, FL
Cost of Living in Miami, FL | Compared to State Average | Compared to National Average |
---|---|---|
Housing (Buy and Rent) | 52% higher | 52% higher |
Utilities (Monthly) | 4% higher | 4% higher |
Food | 6% higher | 5% higher |
Healthcare | 2% higher | 3% lower |
Transportation | 2% higher | 3% higher |
Goods & Services | 10% higher | 6% higher |
The cost of living in Miami, FL is 20% higher than the state average and 18% higher than the national average. Miami, FL housing is 52% more expensive than the U.S average, while utilities are about 4% pricier. When it comes to basic necessities such as food and clothing, groceries are around 6% more in Miami, FL than in the rest of the country, while clothing costs around 6% more .
Healthcare services such as doctor check-ups and dentistry cost 3% less here compared to the U.S. average. At the same time, non-necessary expenses such as entertainment and grooming services are 6% pricier in Miami, FL.
Housing is the most significant expense for most American households. The cost of living in a certain city takes into account both the price of rent and the price of a home. The average monthly rent in Miami is $2,570, while home prices circle around $663,587.
Both owning and renting come with utility expenses. These costs include basic services such as energy and telecommunications. In Miami, energy bills cost around $208.03 per month.
Food is the most important necessity and its cost varies around the country. This section includes the prices of everyday foods such as produce, meat and dairy. A bottle of milk costs about $4.66 in Miami, a dozen eggs go for around $3.82 and a pound of potatoes circles around $5.22.
The benchmark for this category is based on the prices of family doctor visits and specialized services such as optometry. In Miami, an optometry check-up costs around $102.55, while a dentist appointment is priced $112.13 on average.
Transportation expenses depend on multiple factors, with fuel being the most important. A gallon of gas is priced around $3.42 in Miami, while getting your tires balanced will run you about $63.32.
The cost of clothing tells you how much more or less money you need to buy basic items such as jeans, shirts or slacks in a new city. A men's shirt costs around $28.49 here. Meanwhile, a pair of women's slacks will set you back around $29.46.
The cost of entertainment and everyday services is based on common expenses in each category. For a movie ticket in Miami, you should budget around $14.47 a month. When it comes to personal services, a haircut usually goes for $21.34, while dry cleaning costs about $18.76.
The cost of living also takes median household income into account, so you can estimate how much more or less you could be earning in a new city by comparing it to the income in your current area. In Miami, the median household income is $54,858.