salaryRent is higher than in 66% of U.S. cities. A typical house costs about 8.1 years of household income, so buying is hard for most locals. Commutes are long, about 30.9 minutes each way. It is a highly educated city: 56.3% of adults have a college degree.
How much money do I need?
To rent here comfortably, you should earn about $77,880 a year. That is $37 an hour at a full-time job.
Is rent cheaper than other Florida cities?
Yes. Rent here is cheaper than in most of Florida. It is number 229 of 479 cities from cheapest to most expensive.
How much do households earn in South Miami?
Share of households by yearly income. 37.8% of households earn $100,000 or more.
Rent by apartment size in South Miami
| Size | South Miami | U.S. average |
|---|---|---|
| Studio | $1,400 | $1,338 |
| 1 bedroom | $1,761 | $1,324 |
| 2 bedrooms | $2,118 | $1,509 |
| 3 bedrooms | $3,414 | $1,698 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is South Miami overall?
Everyday prices in Florida overall are 3% above the U.S. average (index 103.4, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for South Miami, so the Florida figure is shown.
Taxes and bills in South Miami
Life in South Miami
Is it cheaper to rent or buy in South Miami?
Renting is cheaper right now: about $3,808 a month less.
Owning assumes a typical $829,400 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $82,940 for the down payment.
Frequently asked questions
What is the average rent in South Miami, FL?
Renting in South Miami costs a median of about $1,947 a month in 2026, including utilities. The Florida median is $1,963.
How much do I need to make to live in South Miami?
To keep rent under 30% of income, you need about $77,880 a year, or $37 an hour at a full-time job.
Is South Miami cheap or expensive?
South Miami is rated OK: rent takes 22.9% of the typical household income of $101,926. It ranks 229th cheapest of 479 Florida cities we track.
How much are property taxes in South Miami?
The median homeowner in South Miami pays $5,243 a year in property taxes, about 0.63% of the median home value.
Is South Miami more expensive than the national average?
Overall prices in Florida are 3% above the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in South Miami?
The median home value in South Miami is $829,400, about 8.1 times the typical yearly household income.
12,277 people live in South Miami. Numbers are typical (middle) values.