Miami is a major city in the south-eastern United States, 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 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.
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 16$ per meal, and you can always count on the chain 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, Target, 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 120$.
SPORTS & LEISURE
There are lots of sports and opportunities for outdoor activities which can help you maintain your fit figure without going to a gym. However, if that’s your wish, a gym or a fitness club membership will cost you around 40$, while going to the cinema and enjoying some movie time can be considered expensive. Prepare to pay around 12$ per ticket.
CLOTHING & 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 40$, and you won’t find any good running sneakers without cashing out close to 75$.
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 1800$ and upwards for a small apartment. A spacious apartment or a house will cost you from 3200$ and upwards.
Cost of Living Averages Table for Miami, FL
|Average Restaurant Prices|
|Meal (Inexpensive Restaurant)||$16.00|
|Domestic Beer (0.5 Liter)||$72.50|
|Water (0.33 Liter)||$1.54||Average Market Prices|
|Milk (1 Liter)||$1.02|
|Loaf Bread (500g)||$3.01|
|Eggs (12)||$3.13||Average Transport Prices|
|One Way Ticket||$2.25|
|Gasoline||$0.73||Average Utilities Prices|
|Basic (Water, Electricity, Garbage, Heating, Cooling)||$120.81|
|1 min. of Prepaid Mobile Tariff Local||$0.15|
|Internet (Unlimited Data, Cable/ADSL)||$58.66||Average Leisure Prices|
|Fitness Club, Monthly Fee for 1 Adult||$38.72|
|Tennis Court Rent (1 Hour)||$18.56|
|Cinema, 1 Seat, International Release||$12.62||Average Clothing Prices|
|1 Pair of Jeans (Levis 501 Or Comparable)||$42.20|
|1 Summer Dress in a Chain Store (Zara, etc...)||$33.96|
|1 Pair of Adidas Walking Shoes (Mid-Range)||$74.76||Average Rent Prices|
|Apartment (1 bedroom) in City Center||$1846.57|
|Apartment (1 bedroom) Outside of Center||$1313.50|
|Apartment (3 bedrooms) in City Center||$3265.28|
How Does the Average Person Spend Their Money in Miami, FL?
No doubt, rent is the single biggest financial burden for the people of Miami. No wonder, since renting a small apartment costs nearly 2000$.
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 restaurants and transportation costs.
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 2500$ 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 at least 2000$ for a month.
Cost of Living by City in United States
*Click the name of the city for more information.