Cost of Living in Miami, FL
Population: 446,663 • 2026 Data
$59,390
Median Household Income
-23% vs national
$1,657
Median Monthly Rent
+23% vs national
$475,200
Median Home Value
+40% vs national
4.9%
Unemployment Rate
Housing in Miami
The median home value in Miami, FL is $475,200. Monthly rent for a typical unit averages $1,657, while total monthly housing costs (including utilities and insurance) average $1,666.
Rent-to-income ratio: 33.5%. This exceeds the recommended 30% threshold, indicating housing costs may be a burden for median-income households.
Income and Employment
The median household income in Miami, FL is $59,390. The unemployment rate stands at 4.9%, with a labor force of 253,934 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.