Cost of Living in Miami, FL, United States

Updated On July 19, 2023

How Much Does It Cost to Live In Miami, FL?

Miami is a major city in the south-eastern United States, a world-renowned tourist destination, and part of the largest metropolitan area in Florida.

The cost of living in Miami depends on what you’re comparing it to.

When you compare the cost of living in Miami to, for example, living in New York, it’s much cheaper.

But if you compare it to living in one of the less popular cities in the United States, it’s going to be far more expensive.

The tax rate is lower so you can buy more for less.

Food is reasonable as much is grown or raised in Florida.

Cost of Living Index:
* Based on Research & User Data


Miami is home to a diverse array of restaurants, showcasing various different styles of cuisine from the regional United States and across the globe.

The prices are reasonable, with inexpensive restaurants costing around 25$ per meal, and you can always count on the chain of fast food restaurants for a good, cheap meal.



The main stores in Miami are all the regular grocery stores that exist everywhere in the US.

You’ll find most commodities: canned goods, dry goods, milk, butter, eggs, etc. in every grocery store around town.

The prices at big box stores like Walmart, and Target, and even the prices at malls seem cheaper.



Miami’s public transportation system is the most diverse and well-organized of any other city in Florida.

So, if getting to your destination on time is not your priority, it is possible to travel to all commercial areas and major attractions within Miami without ever getting into a car.

Miami’s bus system called Metrobus, covers the entire county.



Like in most other American cities, utilities aren’t too expensive in Miami, though it does depend on the amount of electricity you use and on the size of your apartment.

For example, for a bit larger apartment, of about 85m2, all basic utilities like heating, cooling, electricity and gas will cost you around 160$.

Sports and leisure


There are lots of sports and opportunities for outdoor activities which can help you maintain your fit figure without going to a gym.

However, if that’s your wish, a gym or a fitness club membership will cost you around 57$, while going to the cinema and enjoying some movie time can be considered expensive.

Prepare to pay around 15$ per ticket.

Clothing and shoes


Shopping in Miami, as you probably can imagine, is great.

There are malls and shopping centers on every corner and wherever you turn.

The prices are reasonable and in line with the general American standard when it comes to clothing: quality jeans will cost you around 50$, and you won’t find any good running sneakers without cashing out close to 79$.

Rent per month


Property taxes are high. Florida likes to advertise that they are a state without a state tax, and that is true, but they still get their due in the form of property taxes.

When it comes to renting an apartment, Miami can be considered pretty steep.

You will have to pay around 2700$ and upwards for a small apartment.

A spacious apartment or a house will cost you from 5000$ and upwards.

Cost of Living Averages Table for Miami, FL

*Note: All prices are indicated in USD.
Average Restaurant Prices
Meal (Inexpensive Restaurant)$25.00
Domestic Beer (0.5 Liter)$7.00
Water (0.33 Liter)$2.00
Average Market Prices
Milk (1 Liter)$1.17
Loaf Bread (500g)$3.59
Eggs (12)$4.90
Average Transport Prices
One Way Ticket$2.25
Monthly Pass$112.50
Average Utilities Prices
Basic (Water, Electricity, Garbage, Heating, Cooling)$159.0
1 min. of Prepaid Mobile Tariff Local$0.15
Internet (Unlimited Data, Cable/ADSL)$63.41
Average Leisure Prices
Fitness Club, Monthly Fee for 1 Adult$57.17
Tennis Court Rent (1 Hour)$22.71
Cinema, 1 Seat, International Release$15.00
Average Clothing Prices
1 Pair of Jeans (Levis 501 Or Comparable)$50.54
1 Summer Dress in a Chain Store (Zara, etc...)$42.18
1 Pair of Adidas Walking Shoes (Mid-Range)$79.17
Average Rent Prices
Apartment (1 bedroom) in City Center$2720.55
Apartment (1 bedroom) Outside of Center$1998.38
Apartment (3 bedrooms) in City Center$4975.02

How Does the Average Person Spend Their Money in Miami, FL?

No doubt, rent is the single biggest financial burden for the people of Miami.

No wonder, since renting a small apartment costs nearly 3000$.

Rent takes up almost 40% of one’s entire income.

Food is definitely the second biggest expense for anyone living in Miami – though this is the situation in most countries and cities around the world.

Food is an everyday necessity and when it’s not cheap, it amounts to a high monthly expense.

Other significant expenses for the people of Florida in the city of Miami are restaurant and transportation costs.

Average Costs Breakdown


Miami, FL: Average Salary, Minimum Wage & Mortgages

The people of Florida living in this city have relatively reasonable salaries and working conditions in comparison with the cost of living.

The minimum wage is around 1400$ which is a decent minimum wage (it has recently been raised to this amount) and most people can earn for a normal life.

An average monthly salary in Miami is well above 4200$ which is absolutely enough for a comfortable life in this city.

If you’re planning on visiting this city and staying a while, count on bringing in at least 2000$ for a month.

Average Salary$4217.66
Minimum Wage$1430.00
Mortgage Interest Rate6.70%

Miami Safety Overview

READ THE FULL REPORT: Miami Safety Review

Safety Index:

Cost of Living by City in Miami, FL

CityCost of Living Index
Albany, NY72.4
Albuquerque, NM72.4
Anchorage, AK72.4
Ann Arbor, MI72.4
Arlington, TX72.4
Asheville, NC72.4
Atlanta, GA72.4
Austin, TX72.4
Bakersfield, CA72.4
Baltimore, MD72.4
Bellevue, WA72.4
Bellingham, WA72.4
Berkeley, CA72.4
Birmingham, AL72.4
Boise, ID72.4
Boston, MA72.4
Boulder, CO72.4
Brooklyn, NY72.4
Buffalo, NY72.4
Burlington, VT72.4
Charleston, SC72.4
Charlotte, NC73.33
Chattanooga, TN72.4
Chicago, IL72.4
Cincinnati, OH72.4
Cleveland, OH72.4
Columbia, SC72.4
Columbus, OH72.4
Dallas, TX72.4
Dayton, OH72.4
Denver, CO72.4
Des Moines, IA72.4
Detroit, MI72.4
El Paso, TX72.4
Eugene, OR72.4
Everett, WA72.4
Fayetteville, AR72.4
Fort Myers, FL72.4
Fort Wayne, IN72.4
Fort Worth, TX72.4
Fresno, CA74.2
Gainesville, FL74.2
Grand Rapids, MI74.2
Greensboro, NC74.2
Hartford, CT74.2
Honolulu, HI74.2
Houston, TX74.2
Huntsville, AL74.2
Indianapolis, IN74.2
Irvine, CA74.2
Jacksonville, FL74.2
Jersey City, NJ74.2
Kansas City, MO74.2
Knoxville, TN74.2
Las Vegas, NV74.2
Lexington, KY74.2
Little Rock, AR74.2
Long Beach, CA74.2
Los Angeles, CA74.2
Louisville, KY74.2
Lubbock, TX74.2
Madison, WI74.2
Memphis, TN74.2
Milwaukee, WI74.2
Minneapolis, MN74.2
Nashville, TN74.2
New Orleans, LA74.2
New York, NY74.2
Oakland, CA74.2
Oklahoma City, OK74.2
Olympia, WA74.2
Orlando, FL74.2
Peoria, IL72.4
Philadelphia, PA72.4
Phoenix, AZ72.4
Pittsburgh, PA72.4
Portland, ME72.4
Portland, OR72.4
Raleigh, NC72.4
Reno, NV72.4
Richmond, VA74.2
Rochester, NY74.2
Sacramento, CA74.2
Saint Louis, MO74.2
Saint Paul, MN74.2
Saint Petersburg, FL74.2
Salem, OR74.2
Salt Lake City, UT74.2
San Antonio, TX74.2
San Diego, CA74.2
San Francisco, CA74.2
San Jose, CA74.2
Santa Barbara, CA74.2
Santa Rosa, CA74.2
Seattle, WA74.2
Spokane, WA74.2
Springfield, MO74.2
Syracuse, NY74.2
Tacoma, WA74.2
Tallahassee, FL74.2
Tampa, FL74.2
Toledo, OH74.2
Tucson, AZ74.2
Tulsa, OK74.2
Vancouver, WA74.2
Virginia Beach, VA74.2
Washington, DC74.2
West Palm Beach, FL74.2
Wichita, KS74.2

Where to Next?

See these related locations:

Or, browse the country/city indexes:

Cost of Living - Country Index Cost of Living - City Index

Share Your Experience

Facebook Pinterest