Cost of Living in Miami, FL
|Cost of Living in Miami, FL||Compared to State Average||Compared to National Average|
|Housing (Buy and Rent)||44% higher||50% higher|
|Utilities (Monthly)||5% higher||6% higher|
|Food||13% higher||16% higher|
|Healthcare||1% lower||5% lower|
|Transportation||7% higher||7% higher|
|Goods & Services||11% higher||9% higher|
The cost of living in Miami, FL is 19% higher than the state average and 20% higher than the national average. Miami, FL housing is 50% more expensive than the U.S average, while utilities are about 6% pricier. When it comes to basic necessities such as food and clothing, groceries are around 9% more in Miami, FL than in the rest of the country, while clothing costs around 9% more .
Healthcare services such as doctor check-ups and dentistry cost 5% less here compared to the U.S. average. At the same time, non-necessary expenses such as entertainment and grooming services are 9% pricier in Miami, FL.
Housing (Buy and Rent)
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 $2,438, while home prices circle around $597,159.
Both owning and renting come with utility expenses. These costs include basic services such as energy and telecommunications. In Miami, energy bills cost around $195.15 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 $3.83 in Miami, a dozen eggs go for around $3.06 and a pound of potatoes circles around $5.07.
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 $100.07, while a dentist appointment is priced $97.18 on average.
Transportation expenses depend on multiple factors, with fuel being the most important. A gallon of gas is priced around $3.73 in Miami, while getting your tires balanced will run you about $70.13.
Goods & Services
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 $26.10 here. Meanwhile, a pair of women's slacks will set you back around $27.02.
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 $14.15 a month. When it comes to personal services, a haircut usually goes for $20.74, while dry cleaning costs about $21.91.
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 $47,860.