Miami, FL vs New York, NY: cost of living compared
Price levels from BEA (2024); rent and home values from Zillow (September 2026).
The short answer
- Overall, New York, NY is 1.4% less expensive than Miami, FL (BEA, 2024).
- To keep the same standard of living, $75,000 in Miami works out to about $74,000 in New York, before taxes.
- Most of the difference is housing, which costs 4.5% less in New York. Goods are 6.5% higher and other services 3.0% lower.
- Utility prices (electricity, gas, water) are 30.6% higher in New York.
- Typical asking rent is $3,546 a month in New York and $2,654 in Miami, $10,704 a year more in New York (Zillow, September 2026).
- A typical home is valued at about $731,000 in New York and $477,000 in Miami.
- The gap has narrowed since 2019, when New York was 5.8% more expensive than Miami.
derived Calculated from BEA Regional Price Parities (2024) and Zillow data. Based on an average household's spending; taxes not included. How we calculate.
Category by category
Both cities against the US average (100). The gap in each row is what matters for a move.
Housing drives the gap: 4.5% lower in New York than in Miami
Price level by category, 2024. US average = 100.
- Miami, FL
- New York, NY
All items Miami, FL: 114.2 New York, NY: 112.6
Goods Miami, FL: 103.6 New York, NY: 110.3
Housing (rents) Miami, FL: 155.6 New York, NY: 148.6
Utilities Miami, FL: 97.2 New York, NY: 127.0
Other services Miami, FL: 109.1 New York, NY: 105.8
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Miami, FL | New York, NY | |
|---|---|---|
| All items | 114.2 | 112.6 |
| Goods | 103.6 | 110.3 |
| Housing (rents) | 155.6 | 148.6 |
| Utilities | 97.2 | 127.0 |
| Other services | 109.1 | 105.8 |
| Category | Miami | New York | New York vs Miami |
|---|---|---|---|
| All items | 114.2 | 112.6 | −1.4% |
| Goods | 103.6 | 110.3 | +6.5% |
| Housing (rents) | 155.6 | 148.6 | −4.5% |
| Utilities | 97.2 | 127.0 | +30.6% |
| Other services | 109.1 | 105.8 | −3.0% |
| Typical asking rent | $2,654 | $3,546 | +33.6% |
| Typical home value | $477,000 | $731,000 | +53.3% |
| Salary to match $75,000 in Miami | $75,000 | $74,000 | −1.4% |
Index values: BEA, 2024, US = 100. Rent and home values: Data Provided by Zillow Group, September 2026.
How the gap has changed since 2008
The price gap between Miami and New York has narrowed since 2008: 7.0 points then, 1.6 now
Overall price level each year, 2008–2024. US average = 100.
- Miami, FL
- New York, NY
US average = 100
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Miami, FL | New York, NY | |
|---|---|---|
| 2008 | 106.5 | 113.5 |
| 2009 | 106.0 | 114.8 |
| 2010 | 105.3 | 113.2 |
| 2011 | 106.7 | 114.6 |
| 2012 | 107.5 | 113.8 |
| 2013 | 106.7 | 113.3 |
| 2014 | 105.9 | 113.2 |
| 2015 | 107.3 | 113.3 |
| 2016 | 107.9 | 113.7 |
| 2017 | 108.3 | 113.6 |
| 2018 | 109.5 | 114.5 |
| 2019 | 108.6 | 114.9 |
| 2020 | 109.5 | 115.6 |
| 2021 | 110.0 | 114.8 |
| 2022 | 111.9 | 113.0 |
| 2023 | 112.1 | 112.6 |
| 2024 | 114.2 | 112.6 |
Goods
- Miami, FL
- New York, NY
US = 100
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Miami, FL | New York, NY | |
|---|---|---|
| 2008 | 100.1 | 110.8 |
| 2009 | 97.9 | 109.1 |
| 2010 | 96.8 | 107.2 |
| 2011 | 97.9 | 107.9 |
| 2012 | 99.6 | 110.3 |
| 2013 | 101.5 | 109.7 |
| 2014 | 100.3 | 108.9 |
| 2015 | 99.6 | 109.4 |
| 2016 | 100.5 | 109.0 |
| 2017 | 103.2 | 108.7 |
| 2018 | 104.4 | 109.4 |
| 2019 | 99.8 | 108.2 |
| 2020 | 100.3 | 108.6 |
| 2021 | 105.3 | 104.3 |
| 2022 | 104.8 | 107.8 |
| 2023 | 101.8 | 108.3 |
| 2024 | 103.6 | 110.3 |
Housing (rents)
- Miami, FL
- New York, NY
US = 100
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Miami, FL | New York, NY | |
|---|---|---|
| 2008 | 147.0 | 166.7 |
| 2009 | 138.6 | 166.9 |
| 2010 | 138.1 | 169.2 |
| 2011 | 138.5 | 168.3 |
| 2012 | 140.7 | 169.7 |
| 2013 | 137.7 | 167.7 |
| 2014 | 138.9 | 168.0 |
| 2015 | 143.6 | 164.8 |
| 2016 | 141.3 | 164.8 |
| 2017 | 142.1 | 160.8 |
| 2018 | 142.2 | 159.2 |
| 2019 | 143.8 | 159.4 |
| 2020 | 144.0 | 163.8 |
| 2021 | 143.7 | 160.5 |
| 2022 | 147.2 | 154.3 |
| 2023 | 156.6 | 149.7 |
| 2024 | 155.6 | 148.6 |
Utilities
- Miami, FL
- New York, NY
US = 100
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Miami, FL | New York, NY | |
|---|---|---|
| 2008 | 104.6 | 145.8 |
| 2009 | 109.0 | 144.3 |
| 2010 | 98.8 | 137.4 |
| 2011 | 100.6 | 134.8 |
| 2012 | 98.3 | 130.0 |
| 2013 | 97.7 | 128.9 |
| 2014 | 96.9 | 122.4 |
| 2015 | 94.0 | 117.2 |
| 2016 | 93.5 | 120.9 |
| 2017 | 86.3 | 122.8 |
| 2018 | 95.3 | 127.9 |
| 2019 | 103.1 | 128.7 |
| 2020 | 96.2 | 135.2 |
| 2021 | 97.0 | 132.0 |
| 2022 | 106.4 | 119.8 |
| 2023 | 98.0 | 129.1 |
| 2024 | 97.2 | 127.0 |
Other services
- Miami, FL
- New York, NY
US = 100
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Miami, FL | New York, NY | |
|---|---|---|
| 2008 | 98.6 | 103.5 |
| 2009 | 100.7 | 106.1 |
| 2010 | 101.0 | 104.5 |
| 2011 | 102.9 | 106.9 |
| 2012 | 103.1 | 104.1 |
| 2013 | 101.1 | 104.1 |
| 2014 | 100.3 | 104.7 |
| 2015 | 102.7 | 105.3 |
| 2016 | 103.8 | 106.1 |
| 2017 | 103.0 | 106.8 |
| 2018 | 104.0 | 108.2 |
| 2019 | 104.6 | 109.3 |
| 2020 | 105.6 | 108.1 |
| 2021 | 103.9 | 110.7 |
| 2022 | 106.7 | 107.2 |
| 2023 | 106.7 | 106.7 |
| 2024 | 109.1 | 105.8 |
Rent and home values
Typical asking rent: $3,546 in New York vs $2,654 in Miami
Typical asking rent for a new lease, dollars per month. Quarterly.
- Miami, FL
- New York, NY
- United States
Source: Zillow Observed Rent Index (typical asking rent, all homes, smoothed), through September 2026. Data Provided by Zillow Group.
Show the numbers
| Miami, FL | New York, NY | United States | |
|---|---|---|---|
| Mar 2015 | $1,463 | $2,260 | $1,145 |
| Jun 2015 | $1,486 | $2,309 | $1,170 |
| Sep 2015 | $1,513 | $2,335 | $1,181 |
| Dec 2015 | $1,532 | $2,314 | $1,182 |
| Mar 2016 | $1,539 | $2,324 | $1,195 |
| Jun 2016 | $1,542 | $2,367 | $1,219 |
| Sep 2016 | $1,551 | $2,384 | $1,225 |
| Dec 2016 | $1,555 | $2,361 | $1,222 |
| Mar 2017 | $1,572 | $2,371 | $1,245 |
| Jun 2017 | $1,579 | $2,418 | $1,270 |
| Sep 2017 | $1,598 | $2,428 | $1,276 |
| Dec 2017 | $1,605 | $2,387 | $1,275 |
| Mar 2018 | $1,613 | $2,407 | $1,296 |
| Jun 2018 | $1,626 | $2,461 | $1,320 |
| Sep 2018 | $1,643 | $2,483 | $1,327 |
| Dec 2018 | $1,661 | $2,454 | $1,329 |
| Mar 2019 | $1,659 | $2,478 | $1,349 |
| Jun 2019 | $1,671 | $2,538 | $1,376 |
| Sep 2019 | $1,686 | $2,559 | $1,383 |
| Dec 2019 | $1,712 | $2,535 | $1,381 |
| Mar 2020 | $1,717 | $2,557 | $1,402 |
| Jun 2020 | $1,702 | $2,514 | $1,406 |
| Sep 2020 | $1,717 | $2,394 | $1,410 |
| Dec 2020 | $1,763 | $2,309 | $1,407 |
| Mar 2021 | $1,829 | $2,345 | $1,443 |
| Jun 2021 | $1,948 | $2,467 | $1,512 |
| Sep 2021 | $2,130 | $2,637 | $1,590 |
| Dec 2021 | $2,258 | $2,713 | $1,622 |
| Mar 2022 | $2,366 | $2,808 | $1,661 |
| Jun 2022 | $2,473 | $2,948 | $1,721 |
| Sep 2022 | $2,507 | $3,027 | $1,748 |
| Dec 2022 | $2,519 | $2,971 | $1,735 |
| Mar 2023 | $2,526 | $3,009 | $1,757 |
| Jun 2023 | $2,540 | $3,103 | $1,785 |
| Sep 2023 | $2,551 | $3,133 | $1,797 |
| Dec 2023 | $2,555 | $3,092 | $1,786 |
| Mar 2024 | $2,569 | $3,145 | $1,807 |
| Jun 2024 | $2,581 | $3,226 | $1,837 |
| Sep 2024 | $2,594 | $3,239 | $1,845 |
| Dec 2024 | $2,595 | $3,218 | $1,836 |
| Mar 2025 | $2,606 | $3,278 | $1,860 |
| Jun 2025 | $2,608 | $3,360 | $1,880 |
| Sep 2025 | $2,606 | $3,403 | $1,881 |
| Dec 2025 | $2,608 | $3,364 | $1,873 |
| Mar 2026 | $2,622 | $3,410 | $1,894 |
| Jun 2026 | $2,637 | $3,511 | $1,921 |
| Sep 2026 | $2,654 | $3,546 | $1,932 |
Typical home value: $731,000 in New York vs $477,000 in Miami
Typical home value, dollars. Quarterly.
- Miami, FL
- New York, NY
- United States
Source: Zillow Home Value Index (typical home value, middle tier, smoothed, seasonally adjusted), through September 2026. Data Provided by Zillow Group.
Show the numbers
| Miami, FL | New York, NY | United States | |
|---|---|---|---|
| Mar 2015 | $219K | $412K | $189K |
| Jun 2015 | $224K | $415K | $192K |
| Sep 2015 | $230K | $420K | $195K |
| Dec 2015 | $236K | $428K | $199K |
| Mar 2016 | $241K | $432K | $202K |
| Jun 2016 | $246K | $436K | $204K |
| Sep 2016 | $251K | $438K | $206K |
| Dec 2016 | $256K | $443K | $209K |
| Mar 2017 | $261K | $451K | $213K |
| Jun 2017 | $266K | $458K | $216K |
| Sep 2017 | $271K | $463K | $219K |
| Dec 2017 | $276K | $468K | $223K |
| Mar 2018 | $281K | $473K | $227K |
| Jun 2018 | $284K | $480K | $230K |
| Sep 2018 | $289K | $486K | $234K |
| Dec 2018 | $294K | $489K | $236K |
| Mar 2019 | $297K | $493K | $239K |
| Jun 2019 | $297K | $498K | $242K |
| Sep 2019 | $298K | $499K | $244K |
| Dec 2019 | $303K | $502K | $247K |
| Mar 2020 | $310K | $509K | $252K |
| Jun 2020 | $310K | $514K | $255K |
| Sep 2020 | $314K | $514K | $260K |
| Dec 2020 | $326K | $529K | $271K |
| Mar 2021 | $338K | $548K | $282K |
| Jun 2021 | $353K | $564K | $296K |
| Sep 2021 | $370K | $572K | $306K |
| Dec 2021 | $385K | $582K | $314K |
| Mar 2022 | $412K | $597K | $330K |
| Jun 2022 | $443K | $617K | $346K |
| Sep 2022 | $456K | $619K | $348K |
| Dec 2022 | $459K | $613K | $345K |
| Mar 2023 | $461K | $611K | $343K |
| Jun 2023 | $469K | $621K | $347K |
| Sep 2023 | $479K | $631K | $352K |
| Dec 2023 | $488K | $639K | $354K |
| Mar 2024 | $494K | $651K | $357K |
| Jun 2024 | $499K | $665K | $361K |
| Sep 2024 | $499K | $675K | $361K |
| Dec 2024 | $497K | $684K | $363K |
| Mar 2025 | $493K | $688K | $364K |
| Jun 2025 | $484K | $693K | $362K |
| Sep 2025 | $476K | $697K | $362K |
| Dec 2025 | $473K | $706K | $364K |
| Mar 2026 | $474K | $716K | $366K |
| Jun 2026 | $473K | $722K | $365K |
| Sep 2026 | $477K | $731K | $366K |
More about each city
Related comparisons
What this comparison leaves out
- Taxes. State and local income, sales and property taxes can change the result a lot, especially between states.
- Neighborhoods. These are metro-wide averages; a city center and its outer suburbs can differ by more than two metros do.
- Your own spending mix. The default uses an average household. Use the housing slider above if rent is a bigger share of your budget.
- Timing. BEA price levels are for 2024; Zillow figures are monthly and newer.