Housing costs in Miami?
A typical home costs
$524,600, which is 55.2% more expensive than the national average of
$338,100 and 44.8% more expensive than the average Florida home, at
$362,400. Renting a two-bedroom unit in Miami costs
$1,950 per month, which is 36.4% more than the national average of
$1,430 and 20.0% more than the state average of
$1,560.
Can I afford Miami?
To live comfortably in Miami, Florida, a minimum annual income of
$100,440 for a family, and
$62,800 for a single person is recommended.
What does A.I. say about Miami?
Miami, Florida offers plenty of attractions along with an impressive cost-of-living that makes it worth considering. Homeowners can benefit from a wide range of housing choices ranging from single family homes to luxury high rises - while renters also have access to some attractive deals these days. Moreover, groceries and transportation expenses are much lower than other major US cities - giving you more bang out of your buck if you choose Miami as your home.