Miami Beach, FL Economy


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Miami Beach, FL is a popular destination for vacationers and those looking to relocate. It has an abundance of amenities and businesses, such as thriving sand beaches, shopping centers, restaurants, art galleries, museums, nightlife venues, parks, and more. It also offers some of the highest quality living standards in the US; rent for a two-bedroom house/apartment comes in around $2,600 per month. This is slightly higher than the US average cost of $1,430 per month for a two-bedroom residence. Additionally, local grocery stores may be slightly pricier with a Grocery Cost Index of 108 versus 100 in the US on average. Some popular local companies include Pulse Media Solutions Group LLC., ROYAL SUITES REALTY INC., and Miami Beach Development & Realty Corp. With all it has to offer visitors and residents alike it’s no wonder people flock to Miami Beach every year.

Miami Beach has an unemployment rate of 5.9%. The US average is 6.0%.

Miami Beach 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 36.9%, which is higher than the US average of 33.5%.

Tax Rates for Miami Beach
- The Sales Tax Rate for Miami Beach is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Miami Beach 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 Miami Beach
- The average income of a Miami Beach resident is $59,738 a year. The US average is $37,638 a year.
- The Median household income of a Miami Beach resident is $59,162 a year. The US average is $69,021 a year.

Income by Population Percent

  EconomyMiami Beach, FloridaUnited States
  5.96
  -11.1%-6.2%
  36.9%33.5%
  7.0%6.2%
  0.0%4.6%
  $59,738$37,638
  $59,162$69,021
  $79,898$85,028
  Population by Occupation
  0.4%1.2%
  0.0%0.5%
  4.1%6.8%
  3.7%10.0%
  2.6%2.5%
  7.6%11.0%
  4.6%4.8%
  0.4%0.8%
  2.5%1.9%
  4.7%4.7%
  6.3%1.9%
  10.4%7.6%
  0.1%0.1%
  6.4%4.2%
  6.1%9.3%
  10.4%14.0%
  3.2%2.1%
  17.8%7.0%
  6.4%4.8%
  2.4%4.7%
Reviews for Miami Beach
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I like it cause its walkable. Bert in general doesn't know much and the biggest problem in Miami Beach is rising oceans. Just Google that. Its a nice place to visit  More

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Over 7 years ago

Great place to live, eat and spend holidays with  More

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Over 8 years ago

Life here are extremely expensive, I lived here 1 year ago, and this's my opinion, bad things, the parking are the worst in Miami Area, there are no space, a lot of  More

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