Miami vs New York: Cost of Living & Housing Comparison
Miami's median home value is $433,900 — 41% lower than New York's $732,100.
Median household income is $54,858 in Miami versus $76,607 in New York.
Typical rent runs $1,494 in Miami and $1,714 in New York.
| Metric | Miami, FL | New York, NY |
|---|---|---|
| Population | 443,665 | 8,622,467 |
| Median home value | $433,900 | $732,100 |
| Median household income | $54,858 | $76,607 |
| Median gross rent | $1,494 | $1,714 |
| Climate risk (FEMA) | Very High | Relatively High |
On housing costs, Miami, FL looks more affordable than New York, NY — lower median home value and rent. This reflects housing only, not total cost of living.
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Sources: U.S. Census Bureau American Community Survey; FEMA National Risk Index
Data last updated July 2026.