Cost of Living in Miami Beach, FL
Population 82,031 · Census ACS 2020–2024 5-year estimates
The median rent in Miami Beach, FL is $1,826/month, 9% higher than the Florida median and 29% higher than the U.S. median. The median home value is $556,700, 67% higher than the national median. Households earn a median of $72,856 a year, 2% lower than the state median.
Affordability
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Miami Beach vs. Florida vs. U.S.
| Miami Beach | Florida | U.S. | |
|---|---|---|---|
| Median rent | $1,826 | $1,669 | $1,413 |
| Median home value | $556,700 | $359,000 | $332,700 |
| Median household income | $72,856 | $74,568 | $80,734 |
| Homeownership rate | 40.9% | 67.6% | 65.2% |
| Bachelor's degree or higher | 52.9% | 34.1% | 35.7% |
| Poverty rate | 14.4% | 12.6% | 12.5% |
| Unemployment rate | 4.6% | 4.8% | 5.2% |
| Work from home | 23.9% | 15.7% | 15.1% |
| Median age | 42.9 | 42.6 | 38.9 |
FAQ
What is the average rent in Miami Beach, FL?
The median gross rent in Miami Beach, FL is $1,826 per month (ACS 2020–2024 5-year estimate).
How much do I need to earn to live in Miami Beach, FL?
Using the common 30% rule, renting a median-priced home takes about $73,040 a year in gross income.
Is Miami Beach, FL expensive to live in?
Rent there is 29% higher than the U.S. median, and the median home costs about 7.6 times the median household income.
Other cities in Florida
Cities with a similar cost of living
Source: U.S. Census Bureau, American Community Survey 5-year estimates. Estimates have margins of error, especially for smaller places. This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
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