Can you afford to live in Miami?

Median household income, home values and rent in Miami, FL — how they've changed since 2015 and how much of a typical paycheck housing takes compared with the rest of the country.

U.S. Census Bureau, American Community Survey 5-year estimates.

This story was assembled using AI and public data sources.

What it costs to live in Miami.

Median household income: $59,390 — +91.3% since 2015 (not adjusted for inflation)

Median gross rent: $1,657/mo — +70.6% since 2015

Median home value, 2015 to 2023

• 2015: 224600
• 2023: 475200

Median household income

• Miami: 59390
• Miami-Dade County: 68694
• FL: 71711
• U.S.: 78538

Median gross rent

• Miami: 1657
• Miami-Dade County: 1731
• FL: 1564
• U.S.: 1348

Share of income a typical renter spends on rent: 36.3% — U.S.: 30.2%

What it means

The typical household here earns $59,390 — notably lower than the national figure of $78,538.

The typical renter here spends 36.3% of household income on rent, above the 30% level housing agencies use to define cost burden.

Since 2015, income has kept pace with rent here (+91.3% versus +70.6%), before adjusting for inflation.