Housing costs in Miami?
A typical home costs
$429,900, which is 27.2% more expensive than the national average of
$338,100 and 18.6% more expensive than the average Florida home, at
$362,400. Renting a two-bedroom unit in Miami costs
$1,570 per month, which is 0.6% more than the national average of
$1,560 and 20.4% cheaper than the state average of
$1,890.
Can I afford Miami?
To live comfortably in Miami (zip 33127), Florida, a minimum annual income of
$82,440 for a family, and
$50,400 for a single person is recommended.
What does A.I. say about Miami?
The cost of living in 33127 Miami, FL is quite high. The median home value is more than $300,000, and rent costs are equally steep. Despite the high costs, Miami remains a desirable place to live due to its tropical climate, diverse culture, and vibrant nightlife. Residents also enjoy access to excellent healthcare facilities and plenty of educational opportunities. However, those considering moving to the area should consider their financial resources carefully as prices are sure to rise in the future.