Miami, FL Relocation Guide (2026)
Cost of living, housing, and income data for Miami, sourced from the US Census Bureau.
Salary needed to live in Miami →
Source: US Census Bureau ACS 5-Year (2022). Last updated July 2026.
Miami, Florida has a population of about 443,665. Typical household income is $54,858 per year, below the median across the cities in our dataset (-24%).
Miami's housing market shows a median home value of $433,900, above the multi-city benchmark (+33%), alongside median rent of $1,494 per month. Both figures matter for anyone weighing a move here.
Home values running about 7.9× median income put Miami on the stretched end of the affordability spectrum among cities we cover. Year-over-year, home values around Miami are up 2.79%, a pace in line with a healthy, unremarkable market. Climate and natural-hazard risk in Miami runs on the higher side, per FEMA's Very High rating — insurance premiums often track this closely.
Personal Affordability Check
Renting at $1,494/mo in Miami would take 32.7% of your income.
$123/mo over the 30% guideline.
Buying the median home ($433,900) would take 50.7% of your income toward principal & interest.
$1,036/mo over the 28% guideline.
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.
FHFA's county-level home price index for Miami-Dade rose 2.79% over the past year (as of 2025).
HUD's FY 2026 Fair Market Rent for a 2-bedroom unit in the surrounding county is $2,436/month.
Climate & home insurance
FEMA rates Miami's overall natural-hazard risk as Very High. Risk level is a major driver of home insurance premiums.
Safety
Miami reported a violent crime rate of 358.5 per 100,000 residents in 2025, per FBI data.
Moving to Miami
Planning a move to Miami? Compare licensed movers and get quotes based on your origin and move date.
Cost estimates for moving between Miami and nearby popular destinations:
- Moving from Miami to Tampa
- Moving from Miami to Orlando
- Moving from Miami to Austin
- Moving from Miami to New York
- Moving from Miami to Atlanta
- Moving from Miami to Houston
- Moving from Miami to Dallas
- Moving from Miami to Boston
- Moving from Miami to Philadelphia
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?
- Miami's median rent of $1,494/month works out to roughly $59,760 in annual income needed, if you're budgeting the standard 30% of gross pay toward rent. See the full salary breakdown (renting and buying) for Miami.
- Is it better to rent or buy in Miami?
- In Miami, comfortably renting the median unit ($1,494/month) takes about $59,760 in annual income, while buying the median home ($433,900) takes roughly $99,274 a year in principal and interest alone (assumes 20% down, a 30-year fixed loan, and current mortgage rates).
- Is Miami safe?
- Miami's violent crime rate, per FBI reporting for 2025, stands at 358.5 per 100,000 residents.
See the full salary breakdown for Miami →
Compare Miami to similar cities
- Miami vs Tampa: Cost of Living & Housing Comparison
- Miami vs Orlando: Cost of Living & Housing Comparison
- Austin vs Miami: Cost of Living & Housing Comparison
- Miami vs New York: Cost of Living & Housing Comparison
- Atlanta vs Miami: Cost of Living & Housing Comparison
- Houston vs Miami: Cost of Living & Housing Comparison
Cities with a similar cost of living
Matched on median rent and household income within 15% of Miami's.