Housing costs in Miami?
A typical home costs
$674,800, which is 99.6% more expensive than the national average of
$338,100 and 86.2% more expensive than the average Florida home, at
$362,400. Renting a two-bedroom unit in Miami costs
$1,500 per month, which is 3.8% cheaper than the national average of
$1,560 and 26.0% cheaper than the state average of
$1,890.
Can I afford Miami?
To live comfortably in Miami (zip 33138), Florida, a minimum annual income of
$129,240 for a family, and
$48,400 for a single person is recommended.
What does A.I. say about Miami?
The cost of living in 33138 Miami, FL is one of the most expensive areas in the United States. The median home price surpasses $600,000 and rental prices are well above average for most other cities. Goods and services such as groceries, transportation, and healthcare are also much higher than the national average. Additionally, Miami's median household income is well below the national average at about $44,000 per year putting financial strain on many residents. Despite the high costs, however, Miami still remains an incredibly desirable place to live due to its warm climate and vibrant cultural scene.