Cost of Living: Miami Beach, FL vs New York, NY

Quick rent-and-take-home comparison

Using a baseline of $70,000/yr gross, take-home is about $4,516/mo in Miami Beach, FL versus $4,116/mo in New York, NY. In the model, rent is about 25.25% of gross in Miami Beach, FL versus 25.92% in New York, NY, so Miami Beach, FL tends to feel more affordable for rent.

Take-home in Miami Beach, FL

$4,516/mo

Income level: near

Take-home in New York, NY

$4,116/mo

Income level: below

Rent share (1BR) in Miami Beach, FL

25.25%

COLI tier: mid-range

Rent share (1BR) in New York, NY

25.92%

COLI tier: very high-cost

Compare cost of living, rent, housing prices, and salary affordability between Miami Beach, FL and New York, NY.

At a glance

Cheaper overall (lower cost-of-living index): Miami Beach, FL
Lower rent (median 1BR/2BR): Miami Beach, FL
Lower home prices: Miami Beach, FL
Higher median household income: New York, NY

Cost of Living Index

Miami Beach, FL: 100 (U.S. = 100) · New York, NY: 168.2 (U.S. = 100)

Miami Beach, FL has a lower cost-of-living index than New York, NY, so a given salary generally stretches further there.

Median Rent

Miami Beach, FL: $1,647/mo (midpoint of 1BR/2BR) · New York, NY: $1,690/mo

Median rent in New York, NY is $43/mo higher than in Miami Beach, FL.

Median Home Price

Miami Beach, FL: $542,000 · New York, NY: $751,700

Median home price in New York, NY is $209,700 higher than in Miami Beach, FL.

Median Household Income

Miami Beach, FL: $67,014 · New York, NY: $79,713

New York, NY has a higher median household income than Miami Beach, FL by $12,699.

Miami Beach, FL overview · New York, NY overview · Popular comparisons