Miami, Florida has an overall cost of living index of 112.1, which is 12.1 points above the US average of 100 — making it pricier than most American cities. Renters pay a median of $1,758 per month, while the typical home is valued around $518,100. Households earn a median of $62,462 per year, so rent absorbs a relatively high share of local income. Air quality is good, with an average AQI of 37. Below: housing costs, local wages by occupation, neighborhoods, climate, jobs and major industries, and healthcare access — all drawn from US Census, BEA, BLS, HUD, EPA, and NOAA data.
Median Household Income
$62,462
Annual · Census ACS
Median Gross Rent
$1,758
Per month · Census ACS
Median Home Value
$518,100
Census ACS
Cost of Living Index
112.1
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
Each category is indexed to the US average of 100. Below 100 = cheaper than average.
Overall
112.1
Goods
101.8
Rents / Housing
156.6
Services
98.0
Source: BEA Regional Price Parities (metro-level)
| Occupation | Median Annual Wage |
|---|---|
| 💻Software Developer | $138,520 |
| 🏥Registered Nurse | $92,070 |
| 📚Elementary Teacher | $57,320 |
| ⚡Electrician | $57,370 |
| 📊Accountant | $89,490 |
| 🔧Plumber | $56,710 |
| ⚕️Nurse Practitioner | $243,800 |
| 🏗️Civil Engineer | $101,790 |
| 👔Operations Manager | $135,050 |
| 📈Market Research Analyst | $86,970 |
| 🏢Health Services Manager | $135,000 |
| 🚛Truck Driver | $55,430 |
| 👨⚕️Physician Assistant | N/A |
| 🩺Surgeon | N/A |
| 🧮Data Scientist | N/A |
| 🖥️Computer Engineer | $117,880 |
Source: BLS OEWS 2023 (metro-level data)
Population
459,745
Latest estimate
Median Age
39.3 yrs
Census ACS
Average AQI
37.0
Source: EPA AirNow
Total Neighborhoods
5
Tracked in our database
Avg Walk Score
62
0–100 scale
Avg Median Rent
$1,744
Per month
Avg Home Value
$507,875
Census ACS
January Avg
69°F
July Avg
84°F
Sunny Days / Year
—
Annual Snowfall
—
Climate category: Subtropical · Source: NOAA/NCEI 30-year normals.
Healthcare Score
29.5
poor
Hospitals
10
Doctors per 1,000
1.00
Insurance Coverage
83.7%
What is the cost of living index for Miami?
Miami has a Regional Price Parity (RPP) index of 112.1. The US national average is 100, so Miami is 12.1 points above the national average.
What is the median rent in Miami?
The median gross rent in Miami is $1,758 per month according to US Census ACS data.
What is the median household income in Miami?
The median household income in Miami is $62,462 per year.
What is the median home value in Miami?
The median home value in Miami is $518,100 based on the latest Census ACS survey.
How is the air quality in Miami?
Miami has an average Air Quality Index (AQI) of 37.0, which is rated "Good" by the EPA. Lower AQI values indicate cleaner air.
What are the taxes like in Miami?
Tax data for Florida is not yet available.
Data last updated: December 1, 2026 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology
