Indexed to national average (100)
See what salary you'd need in another city to match your purchasing power in Miami.
About Miami
Miami is a vibrant international city with no state income tax. The thriving finance, tourism, and tech startup scenes attract global talent. However, housing costs have risen sharply as remote workers relocate here.
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Frequently Asked Questions
Is Miami expensive?
Miami has a cost of living index of 114.2, where 100 represents the national average. This makes Miami more expensive than most US cities.
What salary do you need to live comfortably in Miami?
Based on a rent-to-income ratio of 30%, you'd need at least $70,320 to afford the median 2-bedroom apartment in Miami and maintain basic expenses.
What is the median rent in Miami?
The median 2-bedroom rent in Miami is $1,758 per month, according to HUD Fair Market Rent data.