Here's what it costs to live in Miami Beach, Florida, based on the latest US government data. Renters pay a median of $1,733 per month, while the typical home is valued around $542,000. Households earn a median of $67,014 per year, so rent absorbs a relatively high share of local income. The figures below cover housing, local wages by occupation, demographics, and air quality, all drawn from the US Census Bureau, BEA, HUD, and EPA.
Median Household Income
$67,014
Annual · Census ACS
Median Gross Rent
$1,733
Per month · Census ACS
Median Home Value
$542,000
Census ACS
Cost of Living Index
N/A
BEA RPP · US avg = 100
Studio FMR
$1,828
HUD Fair Market Rent
1BR Fair Market Rent
$1,995
HUD FMR
2BR Fair Market Rent
$2,436
HUD FMR
3BR Fair Market Rent
$3,127
HUD FMR
HUD Fair Market Rent = 40th percentile gross rent · FY2024
State Income Tax
None
No state income tax on wages
State Sales Tax
6.00%
Statewide base rate (local add-ons may apply)
Source: Tax Foundation (2024)
| Occupation | Median Annual Wage |
|---|---|
| 💻Software Developer | N/A |
| 🏥Registered Nurse | N/A |
| 📚Elementary Teacher | N/A |
| ⚡Electrician | N/A |
| 📊Accountant | N/A |
Source: BLS OEWS 2023 (metro-level data)
Population
81,319
Latest estimate
Median Age
42.4 yrs
Census ACS
🌬️
AQI data not available
Source: EPA AirNow
What is the cost of living index for Miami Beach?
The cost of living index for Miami Beach is not yet available in our database.
What is the median rent in Miami Beach?
The median gross rent in Miami Beach is $1,733 per month according to US Census ACS data.
What is the median household income in Miami Beach?
The median household income in Miami Beach is $67,014 per year.
What is the median home value in Miami Beach?
The median home value in Miami Beach is $542,000 based on the latest Census ACS survey.
How is the air quality in Miami Beach?
Air quality data for Miami Beach is not yet available.
What are the taxes like in Miami Beach?
Florida has no state income tax on wages and a statewide sales tax of 6.00% (local rates may add to this). Source: Tax Foundation, 2024.
Data last updated: December 1, 2024 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology