South Miami, FL is an attractive and vibrant city situated in the heart of Miami-Dade County. It's known for its stunning beaches, warm weather, and a plethora of great dining, shopping, and entertainment options. The cost of living in SouthMiami is slightly higher than the national average; however it is still affordable with a two bedroom rent averaging at $2,150 compared to the US average of $1,430. Grocery cost index in South Miami is also higher than that of the US with 111 versus 100.
In terms of local businesses and establishments, South Miami offers something for everyone. Located in Downtown South Miami are popular stores like Target, Trader Joe’s and Publix Supermarket all within walking distance from each other. Popular restaurants include Sabor Latino Restaurant & Sports Bar which serves authentic Latin cuisine as well as Makoto Japanese Restaurant which offers sushi dishes. There are also multiple boutique shops located throughout the city such as Artisan's Boutique where locals can buy unique clothing items. All these places make South Miami a great place to live and visit.
South Miami has an unemployment rate of 8.2%. The US average is 6.0%.
South Miami has seen the job market increase by 0.8% over the last year. Future job growth over the next ten years is predicted to be 38.0%, which is higher than the US average of 33.5%.
Tax Rates for South Miami
- The Sales Tax Rate for South Miami is 7.0%. The US average is 7.3%.
- The Income Tax Rate for South Miami is 0.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for South Miami
- The average income of a South Miami resident is $33,468 a year. The US average is $28,555 a year.
- The Median household income of a South Miami resident is $67,110 a year. The US average is $69,021 a year.