Miami, FL Cost of Living (2024): How Expensive Is It?

What salary do you need to live in Miami, FL?

Overall, on average, a gross annual salary of $76,872 is required for an average quality of life in Miami, FL.

Does Miami, FL have a high cost of living?

Miami, FL is ranked 290th out of the top 333 most populated cities in the U.S. for having the lowest cost of living. Therefore, it is considered as one of the most expensive cities in which to live in the U.S. Miami, FL's average monthly rent is 13% higher than than the U.S. average cost of rent.

Is $75K a good salary in Miami, FL?

A gross annual salary of $75,000 in Miami, FL will yield an average annual net salary of $66,240. Considering that the total average annual cost of living in Miami, FL is $58,353, a gross annual salary of $75,000 will be sufficient to cover average living costs.

How much should I pay for rent in Miami, FL?

The average monthly rent in Miami, FL in the city center is $2,402 for a 1 bedroom apartment, $3,007 for a 2 bedroom apartment and $3,602 for a 3 bedroom apartment. Outside the city center, the average monthly rent in is $1,604 for a 1 bedroom apartment, $2,003 for a 2 bedroom apartment and $2,403 for a 3 bedroom apartment.