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Miami, FL Relocation Guide (2026)

Cost of living, housing, and income data for Miami, sourced from the US Census Bureau.

443,665
Population
$54,858
Median household income
-24% vs tracked median
$433,900
Median home value
+33% vs tracked median
$1,494/mo
Median rent
+7% vs tracked median

Source: US Census Bureau ACS 5-Year (2022). Last updated July 2026.

Miami, Florida is home to roughly 443,665 residents. The typical household earns $54,858 per year — below the median across cities we track (-24%).

Housing costs are a defining factor for anyone relocating here. The median home value sits at $433,900 (above the multi-city median at +33%), while renters pay a median of $1,494 per month. Buyers should weigh current mortgage rates and local property taxes against these figures before committing.

Cost of housing in Miami

Median home value is $433,900 and median gross rent is $1,494/month. For buyers, monthly costs depend heavily on current mortgage rates — worth checking before you commit.

Walkability & transit

Walkability data (Walk Score) will appear here once enrichment is run for Miami.

Climate & home insurance

FEMA rates Miami's overall natural-hazard risk as Very High. Risk level is a major driver of home insurance premiums.

Moving to Miami

Planning a move to Miami? Compare licensed movers and get quotes based on your origin and move date.

Frequently asked questions

What is the cost of living in Miami, FL?
In Miami, the median home value is $433,900 and median rent is $1,494 per month, against a median household income of $54,858. These figures come from the US Census Bureau ACS 5-Year (2022).
How much do you need to earn to live comfortably in Miami?
A common guideline is that rent should stay under 30% of gross income. With median rent at $1,494/month, that implies an income of about $59,760 to keep housing affordable in Miami.
Is it better to rent or buy in Miami?
With a median home value of $433,900 and median rent of $1,494/month, the buy-vs-rent decision in Miami depends on how long you plan to stay, current mortgage rates, and your down payment. Compare monthly mortgage estimates against the rent figure above.

Compare Miami to similar cities