Cost of Living in Miami Beach, FL
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
147.1
100 = national avg
+47.1 vs national average
Living Wage (1 Adult)
$64,735
per year
Living Wage (Family of 4)
$153,010
per year
Cost Index by Category
Housing226.1
Food101.2
Transportation98.3
Healthcare101.0
Utilities126.0
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,995
per month
2 Bedroom
$2,436
per month
The overall cost of living index in Miami Beach is 147.1, which is 47.1% above the national average. Housing costs are above the national average at an index of 226.1. A single adult needs to earn approximately $64,735 per year to cover basic expenses.