Cost of living in Miami, Florida
Miami-Dade County, FL
Population 2,685,296 · Last updated May 24, 2026
Miami presents an interesting contrast: a state with no income tax paired with rising housing and insurance costs that shape everyday budgets. A single person spends approximately $3,762 per month in Miami-Dade County. Housing leads the way, with a one-bedroom apartment averaging $1,898 per month, a two-bedroom at $2,329, and the average home value near $425,400, figures that have climbed sharply as the region attracts new residents from across the country and abroad.
Florida's lack of a state income tax is a central draw, and it stands out against a typical household income of about $68,694, which is more modest than in many coastal metros. The combined sales tax of 7.01% is relatively low, but residents often point to insurance and housing as the areas where costs bite hardest, a reflection of the region's coastal exposure and strong demand. Miami is not a heavy transit city, with only about 3.3% of commuters using public transportation.
In return, residents gain a global cultural hub, a fast-growing finance and technology presence, and year-round warm weather that continues to fuel migration. The data shows a metro where the tax advantage is real but housing pressure is equally real. Explore the broader Miami Metro Area, see other counties across Florida, or line Miami up against another city with our comparison tool.
Cost breakdown
Single person, by category, per month.
Rent in Miami
Fair Market Rents by bedroom count.
Source: HUD FMR FY2025
Income and earnings in Miami
Annual earnings figures from the Census ACS.
Source: ACS 2019-2023 5-Year.
Home values in Miami
Average values reported by homeowners.
Source: ACS 2019-2023 5-Year
Energy costs in Miami
Estimated monthly electricity and gas costs.
Source: EIA
Healthcare in Miami
Insurance premiums and coverage rates.
Source: ACS + national avg. Marketplace benchmark premiums are second-lowest Silver plan estimates and do not reflect employer plans, subsidies, or out-of-pocket costs. This is not healthcare advice.
Taxes in Miami
State and local tax rates for Florida.
Tax rates change. Consult a qualified tax professional for advice on your specific situation. This is not tax advice.
Transportation in Miami
Commute patterns and estimated costs.
Source: ACS
Monthly cost estimates for Miami
What it costs to live in Miami each month.
- Rent $1,898
- Energy $197
- Water $55
- Groceries $352
- Transport $320
- Healthcare $480
- Federal tax $460
- State tax $0
- Rent $2,329
- Energy $236
- Water $65
- Groceries $583
- Transport $420
- Healthcare $864
- Federal tax $794
- State tax $0
- Rent $3,008
- Energy $296
- Water $75
- Groceries $885
- Transport $520
- Healthcare $1,350
- Childcare $1,200
- Federal tax $794
- State tax $0
Frequently asked questions about Miami
Common questions about cost of living, rent and salary.
What is the average rent in Miami?
In Miami, Florida, a one-bedroom apartment averages $1,898 per month, a two-bedroom averages $2,329 per month, a three-bedroom averages $3,008 per month, according to HUD Fair Market Rent data.
What is the average salary in Miami?
In Miami, Florida, the average household income is $68,694 per year and individual earnings for full-time workers average $38,213 per year, according to U.S. Census Bureau data.
What is the cost of living in Miami?
The estimated cost of living in Miami, Florida is approximately $3,762 per month for a single person, $5,291 for a couple, $8,128 for a family. This includes rent, utilities, groceries, transportation, healthcare, and taxes.
What is the sales tax rate in Miami?
The combined sales tax rate in Miami, Florida is 7.01%, which includes the Florida state rate of 6.00% plus an average local rate of 1.01%.
Is Miami an affordable place to live?
Based on the data, a single person in Miami, Florida would need approximately $3,762 per month to cover rent, utilities, food, transport, healthcare, and taxes. The average household income is $68,694 per year ($5,725 per month). Miami has a moderate cost of living relative to local earnings.
How much does healthcare cost in Miami?
The ACA marketplace benchmark premium in Miami, Florida is approximately $480 per month for an individual. Approximately 14.3% of residents are uninsured. Actual costs vary based on employer coverage, plan type, and individual circumstances.
What are house prices in Miami?
The average home value in Miami, Florida is $425,400, with average annual property taxes of $3,516, according to U.S. Census Bureau data.
How does Miami compare to other areas?
You can compare Miami, Florida with any other US county using our comparison tool at /compare. Miami is in the Miami-Fort Lauderdale-West Palm Beach, FL metro area.
Other counties in Florida
Browse the full list of counties in Florida, ranked by cost of living.
See all counties in FloridaCompare Miami with another area
Put two counties side by side to see how rent, taxes and everyday costs stack up.
About this data
All figures on this page come from official U.S. government sources, listed below.
- HUD FMR FY2025
- ACS 2019-2023 5-Year
- EIA
- ACS + national avg
- ACS
- USDA + BEA RPP