To Live “Comfortably” in Miami, You Need to Make $77,057 ($46K More Than the Median Income) According to a financial rule of thumb, a person should spend about 50 percent of his or her after-tax income on necessities. That includes things like rent, food, utilities, health care , and transportation.
Is Miami a good place to live?
Miami, Florida’s cost of living is 14% higher than the national average. The cost of living in any area can vary based on factors such as your career, its average salary and the real estate market of that area.