Housing costs in South Miami?
A typical home costs
$742,900, which is 119.7% more expensive than the national average of
$338,100 and 105.0% more expensive than the average Florida home, at
$362,400. Renting a two-bedroom unit in South Miami costs
$2,150 per month, which is 50.3% more than the national average of
$1,430 and 27.4% more than the state average of
$1,560.
Can I afford South Miami?
To live comfortably in South Miami, Florida, a minimum annual income of
$142,200 for a family, and
$69,200 for a single person is recommended.
What does A.I. say about South Miami?
The cost of living in South Miami is higher than the U.S. average, due to its close proximity to major cities such as Miami and Fort Lauderdale. Housing costs in particular are high, with median home values at over $400,000. Groceries, transportation, and utilities are also more expensive than in other parts of the country. Health care and miscellaneous services can be costly here too. However, there are plenty of ways to save money if you know where to look for discounts or shop around for the best deals on goods and services.