Housing costs in Miami Shores?
A typical home costs
$938,700, which is 177.6% more expensive than the national average of
$338,100 and 159.0% more expensive than the average Florida home, at
$362,400. Renting a two-bedroom unit in Miami Shores costs
$1,610 per month, which is 12.6% more than the national average of
$1,430 and 3.1% more than the state average of
$1,560.
Can I afford Miami Shores?
To live comfortably in Miami Shores, Florida, a minimum annual income of
$180,000 for a family, and
$51,600 for a single person is recommended.
What does A.I. say about Miami Shores?
Miami Shores, FL has a moderate cost of living compared to other cities in the United States. The median home value in Miami Shores is $688,000 which is higher than the state average but is still quite reasonable when compared to other metropolitan areas. Rent prices are also relatively affordable, with a median rent of around $1,800 per month. Groceries and other everyday items tend to be cheaper here than in some other parts of the country. In addition, the local tax rate is very low at only 6%, making it an attractive place for people who want to save on their overall cost of living.