Cost of Living in Miami, FL

Miami-Fort Lauderdale-West Palm Beach, FL — prices, rents and what jobs really pay here after taxes.

Price level
114.2
U.S. average = 100 · #2 of 387
Median wage
$48,640
all jobs · $3,439/mo take-home
1-bedroom rent
$1,942
HUD fair market rent

Salary comparison calculator

What would you need to earn in Miami, FL to keep the same lifestyle — after taxes — as in another city?

Cost of living calculator

Uses BEA price levels plus 2026 federal and state taxes in each city's state.

Salary needed to keep your lifestyle
—

    Prices in Miami, FL vs. the U.S. average

    CategoryIndex (U.S. = 100)Difference
    All items114.2+14.2%
    Housing155.6+55.6%
    Goods103.6+3.6%
    Utilities97.2−2.8%
    Other services109.1+9.1%

    Source: BEA Regional Price Parities, 2024.

    Rent in Miami, FL

    UnitMonthly rentIncome needed (30% rule)
    Studio$1,789$71,560/yr
    1 bedroom$1,942$77,680/yr
    2 bedrooms$2,359$94,360/yr
    3 bedrooms$3,105$124,200/yr
    4 bedrooms$3,621$144,840/yr

    HUD Fair Market Rents, FY2026, population-weighted across the metro's counties.

    Take-home pay in Miami, FL

    Paycheck in Miami, FL
    Deductions, kids & local tax

    2026 tax year. Federal brackets from IRS Rev. Proc. 2025-32.

    Your take-home pay
    $41,262
    per year · effective tax rate 15.2%
    $3,439Monthly
    $1,719Twice a month
    $1,587Every 2 weeks
    $19.84Hourly
    • Federal income tax$3,657
    • Social Security (6.2%)$3,016
    • Medicare (1.45%)$705
    • Florida income tax$0
    • Take-home pay$41,262

    Marginal rate: 12% federal + 0.00% state

    Highest-paying jobs in Miami, FL

    JobMedian salaryTake-homeReal value*
    Psychiatrist$239,200+$279,976$245,259
    Physicians, All Other$232,960$171,995$150,668
    Airline Pilots, Copilots, and Flight Engineers$216,070$160,763$140,828
    Dentists, General$172,210$128,972$112,979
    Computer and Information Systems Manager$169,600$127,188$111,417
    Architectural and Engineering Manager$167,160$125,520$109,956
    Financial Manager$164,230$123,517$108,201
    Air Traffic Controller$162,140$122,089$106,950
    Lawyer$160,320$120,845$105,860
    Human Resources Manager$142,940$108,965$95,454
    Database Architect$141,170$107,756$94,394
    Marketing Manager$135,870$104,133$91,221
    Computer Hardware Engineer$135,220$103,689$90,832
    Pharmacist$135,210$103,682$90,826
    Computer Network Architect$133,650$102,616$89,892
    Software Developer$132,650$101,932$89,293
    Physician Assistant$132,360$101,734$89,119
    Purchasing Manager$131,400$101,078$88,544
    Nurse Practitioner$131,340$101,037$88,509
    Aerospace Engineer$131,210$100,948$88,431

    *In U.S.-average dollars after adjusting for local prices.

    Frequently asked questions

    Is Miami, FL expensive to live in?

    According to the Bureau of Economic Analysis, overall prices in the Miami-Fort Lauderdale-West Palm Beach, FL metro area are 114.2% of the U.S. average, with housing at 155.6%. It is the #2 most expensive of 387 metro areas we track.

    What salary do you need to live in Miami, FL?

    To match the buying power of a $60,000 salary in an average-priced U.S. city you would need about $68,493 in Miami, FL (before tax differences). The median wage across all jobs here is $48,640.

    How much is rent in Miami, FL?

    HUD’s FY2026 fair market rents for Miami, FL are $1,789 for a studio, $1,942 for one bedroom, $2,359 for two bedrooms and $3,105 for three bedrooms, including utilities.

    All salaries in Miami, FL

    Management Occupations

    Business and Financial Operations Occupations

    Computer and Mathematical Occupations

    Architecture and Engineering Occupations

    Life, Physical, and Social Science Occupations

    Community and Social Service Occupations

    Legal Occupations

    Educational Instruction and Library Occupations

    Arts, Design, Entertainment, Sports, and Media Occupations

    Healthcare Practitioners and Technical Occupations

    Healthcare Support Occupations

    Protective Service Occupations

    Food Preparation and Serving Related Occupations

    Building and Grounds Cleaning and Maintenance Occupations

    Personal Care and Service Occupations

    Sales and Related Occupations

    Office and Administrative Support Occupations

    Farming, Fishing, and Forestry Occupations

    Construction and Extraction Occupations

    Installation, Maintenance, and Repair Occupations

    Production Occupations

    Transportation and Material Moving Occupations

    Other cities in Florida

    Florida paycheck calculator →