Cost of Living: New York vs Miami
How expensive is Miami compared with New York City? Overall prices, rent, goods, utilities and services in the Miami-Fort Lauderdale-West Palm Beach, FL metro area versus the New York metro area, plus the salary you’d need to live the same way.
Salary converter
Before taxes. Income tax, sales tax and benefits differ a lot between places and aren’t included.
Where the difference comes from
Bars show each category’s price level relative to the US average (BEA Regional Price Parities, 2024). Rent is usually the biggest driver.
The numbers
- Metro area
- Miami-Fort Lauderdale-West Palm Beach, FL
- Price level vs US average
- 114.2 (New York: 112.6)
- Rent vs US average
- 155.6 (New York: 148.6)
- Source
- U.S. Bureau of Economic Analysis, Regional Price Parities 2024
Frequently asked questions
Is Miami cheaper than New York?
About the same. Miami is about the same as the New York metro area overall (index 101, New York = 100).
What salary in Miami equals $100,000 in New York?
About $101,414 a year buys the same standard of living in Miami as $100,000 in the New York metro area, before taxes.
How do rents in Miami compare with New York?
Rents and housing costs in the Miami-Fort Lauderdale-West Palm Beach, FL metro area are 5% more expensive than the New York metro area (BEA, 2024).
Where does this data come from?
U.S. Bureau of Economic Analysis Regional Price Parities for 2024, which compare the price of the same basket of goods, rents, utilities and services across US metro areas.