Cost of Living in Miami

In comparison to other major cities in the USA such as New York, San Francisco and Los Angeles, the cost of living in Miami is significantly lower. That said, it's still a relatively expensive city when put into a global context, ranking 60th out of 209 cities worldwide in Mercer's 2018 Cost of Living Survey.

The cost of living in Miami is significantly affected by lifestyle choices – there are just as many opportunities to save as there are to splurge out. Accommodation and transport are likely to be one's biggest expenses.


Cost of accommodation in Miami

The cost of purchasing a home in Miami has been continuously climbing over the past few years and looks set to continue. While this is good news for those looking to invest in real estate, it does mean that rental prices are also on the rise.

When looking for accommodation in Miami, new arrivals may notice that there is plenty of availability in new and expensive developments. However, there are far fewer options for people on a tight budget. It's worth noting, though, that outlying suburbs are generally cheaper than central inner-city areas, and adding a little extra to one's commute time can pay off when it comes to saving money on rent. 


Cost of entertainment in Miami

Entertainment in Miami is often relatively expensive, especially in popular areas such as South Beach. There are, however, plenty of affordable things for expats to do in Miami, such as spending a day exploring the city's botanical gardens, hiking in the Everglades National Park or perfecting one's tan on the beach.


Cost of transport in Miami

The cost of public transport in Miami is reasonable, although most expats tend to own a car for convenience. As such, expats planning a move to the city would do well to budget for the cost of buying a vehicle.


Cost of education in Miami

Expats can attend public schools free of charge, many of which offer a good standard of education. Parents who wish to send their children to a private or international school in the city should note that school fees can be high and there are often additional expenses for things like school uniforms, stationery, extra-curriculars and textbooks.


Cost of living in Miami chart 

Prices may vary depending on product and service provider. The list below shows average prices for February 2019.

Accommodation (monthly rent)

Three-bedroom apartment in city centre

3,000 USD

Three-bedroom apartment outside of city centre

2,100 USD

One-bedroom apartment in city centre

1,800 USD

One-bedroom apartment outside of city centre

1,200 USD

Shopping

Eggs (dozen)

3 USD

Milk (1 litre)

1 USD

Rice (1kg)

4.70 USD

Loaf of white bread

3 USD

Chicken breasts (1kg)

8.70 USD

Pack of cigarettes (Marlboro)

6 USD

Eating out

Big Mac Meal

7.50 USD

Coca-Cola (330ml)

2 USD

Cappuccino 

4 USD

Bottle of local beer 

5 USD

Three-course meal for two at a mid-range restaurant

70 USD

Utilities

Mobile-to-mobile call rate (per minute)

0.20 USD

Internet (uncapped ADSL or cable – average per month) 

50 USD

Basic utilities (per month for small apartment)

140 USD

Transportation

Taxi rate (per kilometre)

1.80 USD

Bus/train fare in the city centre 

2.25 USD

Petrol/gasoline (per litre)

0.70 USD

Expat Health Insurance Partners

Aetna International

Aetna is an award-winning insurance business that provides health benefits to more than 650,000 members worldwide. Their high quality health insurance plans are tailored to meet the individual needs of expats living and working abroad.

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Cigna Global

With 86 million customer relationships in over 200 countries, Cigna Global has unrivalled experience in dealing with varied and unique medical situations and delivering high standards of service wherever you live in the world.

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