Cost of Living in Miami Beach, FL

Miami-Dade County · 2026 Data · 6 nearby cities in county

COL Index
145
vs FL Avg
+40
Median Income
$58K

Cost of Living Breakdown

Overall Cost of Living
124vs 100 US avg
Below avg
Near avg
Above avg
High
Housing
US avg = 100145
Groceries
US avg = 100112
Healthcare
US avg = 100106
Transportation
US avg = 100118
Utilities
US avg = 100114

Housing & Income in Miami Beach

Median Home Price
$750,000
Estimated market price
Median Monthly Rent
$3,400
All unit types
Median Household Income
$58,000
Annual, pre-tax
Est. Monthly Payment
$3,687
20% down, 30yr fixed
Property Tax Rate
1.1%
~$8,250/yr
Price-to-Rent Ratio
18.4x
<15 favors buying

About Living in Miami Beach

Miami Beach is a world-famous barrier island destination with Art Deco architecture, South Beach, luxury condos, and some of Florida's highest property values.

With a cost of living index of 145, Miami Beach is 45% above the US average and 40 points above the Florida average of 105. The median household income of $58,000 supports a home-price-to-income ratio of 12.9x — above the recommended 4–5x threshold.

FAQ

Common questions about cost of living in Miami Beach

What is the cost of living in Miami Beach, FL?

Miami Beach's overall cost of living index is 145 compared to the US average of 100. Housing (145) is the main driver, with groceries at 112, healthcare at 106, transportation at 118, and utilities at 114.

Is Miami Beach affordable to live in?

Miami Beach is an above-average cost market with a COL index of 145, driven largely by housing. However, it offers premium amenities, strong job markets, and no state income tax.

How does Miami Beach compare to the Florida average?

Miami Beach's COL index of 145 is 40 points above the Florida average of 105. Coastal amenities and employment opportunities drive the premium.