Housing costs in Miami?
A typical home costs
$535,100, which is 58.3% more expensive than the national average of
$338,100 and 47.7% more expensive than the average Florida home, at
$362,400. Renting a two-bedroom unit in Miami costs
$1,920 per month, which is 23.1% more than the national average of
$1,560 and close to the state average of
$1,890.
Can I afford Miami?
To live comfortably in Miami (zip 33144), Florida, a minimum annual income of
$102,600 for a family, and
$62,000 for a single person is recommended.
What does A.I. say about Miami?
The cost of living in 33144 Miami, FL is significantly higher than the national average. According to BestPlaces, housing costs alone account for an estimated 55.30% of the overall monthly expenses for families living in this area. That means that rent and mortgage prices are among the highest in the country. Utility costs are also considerably higher in this part of Florida, ranging from electricity to water and garbage collection. On top of that, food and transportation costs are also quite expensive due to the high tourism rate which drives up prices on almost everything.