New York, NY vs Miami, FL: cost of living compared
Price levels from BEA (2024); rent and home values from Zillow (September 2026).
The short answer
- Overall, Miami, FL is 1.4% more expensive than New York, NY (BEA, 2024).
- To keep the same standard of living, $75,000 in New York works out to about $76,100 in Miami, before taxes.
- Most of the difference is housing, which costs 4.7% more in Miami. Goods are 6.1% lower and other services 3.1% higher.
- Utility prices (electricity, gas, water) are 23.4% lower in Miami.
- Typical asking rent is $2,654 a month in Miami and $3,546 in New York, $10,704 a year less in Miami (Zillow, September 2026).
- A typical home is valued at about $477,000 in Miami and $731,000 in New York.
- The gap has narrowed since 2019, when Miami was 5.5% less expensive than New York.
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: 4.7% higher in Miami than in New York
Price level by category, 2024. US average = 100.
- New York, NY
- Miami, FL
All items New York, NY: 112.6 Miami, FL: 114.2
Goods New York, NY: 110.3 Miami, FL: 103.6
Housing (rents) New York, NY: 148.6 Miami, FL: 155.6
Utilities New York, NY: 127.0 Miami, FL: 97.2
Other services New York, NY: 105.8 Miami, FL: 109.1
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| New York, NY | Miami, FL | |
|---|---|---|
| All items | 112.6 | 114.2 |
| Goods | 110.3 | 103.6 |
| Housing (rents) | 148.6 | 155.6 |
| Utilities | 127.0 | 97.2 |
| Other services | 105.8 | 109.1 |
| Category | New York | Miami | Miami vs New York |
|---|---|---|---|
| All items | 112.6 | 114.2 | +1.4% |
| Goods | 110.3 | 103.6 | −6.1% |
| Housing (rents) | 148.6 | 155.6 | +4.7% |
| Utilities | 127.0 | 97.2 | −23.4% |
| Other services | 105.8 | 109.1 | +3.1% |
| Typical asking rent | $3,546 | $2,654 | −25.2% |
| Typical home value | $731,000 | $477,000 | −34.8% |
| Salary to match $75,000 in New York | $75,000 | $76,100 | +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 New York and Miami has narrowed since 2008: 7.0 points then, 1.6 now
Overall price level each year, 2008–2024. US average = 100.
- New York, NY
- Miami, FL
US average = 100
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| New York, NY | Miami, FL | |
|---|---|---|
| 2008 | 113.5 | 106.5 |
| 2009 | 114.8 | 106.0 |
| 2010 | 113.2 | 105.3 |
| 2011 | 114.6 | 106.7 |
| 2012 | 113.8 | 107.5 |
| 2013 | 113.3 | 106.7 |
| 2014 | 113.2 | 105.9 |
| 2015 | 113.3 | 107.3 |
| 2016 | 113.7 | 107.9 |
| 2017 | 113.6 | 108.3 |
| 2018 | 114.5 | 109.5 |
| 2019 | 114.9 | 108.6 |
| 2020 | 115.6 | 109.5 |
| 2021 | 114.8 | 110.0 |
| 2022 | 113.0 | 111.9 |
| 2023 | 112.6 | 112.1 |
| 2024 | 112.6 | 114.2 |
Goods
- New York, NY
- Miami, FL
US = 100
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| New York, NY | Miami, FL | |
|---|---|---|
| 2008 | 110.8 | 100.1 |
| 2009 | 109.1 | 97.9 |
| 2010 | 107.2 | 96.8 |
| 2011 | 107.9 | 97.9 |
| 2012 | 110.3 | 99.6 |
| 2013 | 109.7 | 101.5 |
| 2014 | 108.9 | 100.3 |
| 2015 | 109.4 | 99.6 |
| 2016 | 109.0 | 100.5 |
| 2017 | 108.7 | 103.2 |
| 2018 | 109.4 | 104.4 |
| 2019 | 108.2 | 99.8 |
| 2020 | 108.6 | 100.3 |
| 2021 | 104.3 | 105.3 |
| 2022 | 107.8 | 104.8 |
| 2023 | 108.3 | 101.8 |
| 2024 | 110.3 | 103.6 |
Housing (rents)
- New York, NY
- Miami, FL
US = 100
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| New York, NY | Miami, FL | |
|---|---|---|
| 2008 | 166.7 | 147.0 |
| 2009 | 166.9 | 138.6 |
| 2010 | 169.2 | 138.1 |
| 2011 | 168.3 | 138.5 |
| 2012 | 169.7 | 140.7 |
| 2013 | 167.7 | 137.7 |
| 2014 | 168.0 | 138.9 |
| 2015 | 164.8 | 143.6 |
| 2016 | 164.8 | 141.3 |
| 2017 | 160.8 | 142.1 |
| 2018 | 159.2 | 142.2 |
| 2019 | 159.4 | 143.8 |
| 2020 | 163.8 | 144.0 |
| 2021 | 160.5 | 143.7 |
| 2022 | 154.3 | 147.2 |
| 2023 | 149.7 | 156.6 |
| 2024 | 148.6 | 155.6 |
Utilities
- New York, NY
- Miami, FL
US = 100
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| New York, NY | Miami, FL | |
|---|---|---|
| 2008 | 145.8 | 104.6 |
| 2009 | 144.3 | 109.0 |
| 2010 | 137.4 | 98.8 |
| 2011 | 134.8 | 100.6 |
| 2012 | 130.0 | 98.3 |
| 2013 | 128.9 | 97.7 |
| 2014 | 122.4 | 96.9 |
| 2015 | 117.2 | 94.0 |
| 2016 | 120.9 | 93.5 |
| 2017 | 122.8 | 86.3 |
| 2018 | 127.9 | 95.3 |
| 2019 | 128.7 | 103.1 |
| 2020 | 135.2 | 96.2 |
| 2021 | 132.0 | 97.0 |
| 2022 | 119.8 | 106.4 |
| 2023 | 129.1 | 98.0 |
| 2024 | 127.0 | 97.2 |
Other services
- New York, NY
- Miami, FL
US = 100
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| New York, NY | Miami, FL | |
|---|---|---|
| 2008 | 103.5 | 98.6 |
| 2009 | 106.1 | 100.7 |
| 2010 | 104.5 | 101.0 |
| 2011 | 106.9 | 102.9 |
| 2012 | 104.1 | 103.1 |
| 2013 | 104.1 | 101.1 |
| 2014 | 104.7 | 100.3 |
| 2015 | 105.3 | 102.7 |
| 2016 | 106.1 | 103.8 |
| 2017 | 106.8 | 103.0 |
| 2018 | 108.2 | 104.0 |
| 2019 | 109.3 | 104.6 |
| 2020 | 108.1 | 105.6 |
| 2021 | 110.7 | 103.9 |
| 2022 | 107.2 | 106.7 |
| 2023 | 106.7 | 106.7 |
| 2024 | 105.8 | 109.1 |
Rent and home values
Typical asking rent: $2,654 in Miami vs $3,546 in New York
Typical asking rent for a new lease, dollars per month. Quarterly.
- New York, NY
- Miami, FL
- United States
Source: Zillow Observed Rent Index (typical asking rent, all homes, smoothed), through September 2026. Data Provided by Zillow Group.
Show the numbers
| New York, NY | Miami, FL | United States | |
|---|---|---|---|
| Mar 2015 | $2,260 | $1,463 | $1,145 |
| Jun 2015 | $2,309 | $1,486 | $1,170 |
| Sep 2015 | $2,335 | $1,513 | $1,181 |
| Dec 2015 | $2,314 | $1,532 | $1,182 |
| Mar 2016 | $2,324 | $1,539 | $1,195 |
| Jun 2016 | $2,367 | $1,542 | $1,219 |
| Sep 2016 | $2,384 | $1,551 | $1,225 |
| Dec 2016 | $2,361 | $1,555 | $1,222 |
| Mar 2017 | $2,371 | $1,572 | $1,245 |
| Jun 2017 | $2,418 | $1,579 | $1,270 |
| Sep 2017 | $2,428 | $1,598 | $1,276 |
| Dec 2017 | $2,387 | $1,605 | $1,275 |
| Mar 2018 | $2,407 | $1,613 | $1,296 |
| Jun 2018 | $2,461 | $1,626 | $1,320 |
| Sep 2018 | $2,483 | $1,643 | $1,327 |
| Dec 2018 | $2,454 | $1,661 | $1,329 |
| Mar 2019 | $2,478 | $1,659 | $1,349 |
| Jun 2019 | $2,538 | $1,671 | $1,376 |
| Sep 2019 | $2,559 | $1,686 | $1,383 |
| Dec 2019 | $2,535 | $1,712 | $1,381 |
| Mar 2020 | $2,557 | $1,717 | $1,402 |
| Jun 2020 | $2,514 | $1,702 | $1,406 |
| Sep 2020 | $2,394 | $1,717 | $1,410 |
| Dec 2020 | $2,309 | $1,763 | $1,407 |
| Mar 2021 | $2,345 | $1,829 | $1,443 |
| Jun 2021 | $2,467 | $1,948 | $1,512 |
| Sep 2021 | $2,637 | $2,130 | $1,590 |
| Dec 2021 | $2,713 | $2,258 | $1,622 |
| Mar 2022 | $2,808 | $2,366 | $1,661 |
| Jun 2022 | $2,948 | $2,473 | $1,721 |
| Sep 2022 | $3,027 | $2,507 | $1,748 |
| Dec 2022 | $2,971 | $2,519 | $1,735 |
| Mar 2023 | $3,009 | $2,526 | $1,757 |
| Jun 2023 | $3,103 | $2,540 | $1,785 |
| Sep 2023 | $3,133 | $2,551 | $1,797 |
| Dec 2023 | $3,092 | $2,555 | $1,786 |
| Mar 2024 | $3,145 | $2,569 | $1,807 |
| Jun 2024 | $3,226 | $2,581 | $1,837 |
| Sep 2024 | $3,239 | $2,594 | $1,845 |
| Dec 2024 | $3,218 | $2,595 | $1,836 |
| Mar 2025 | $3,278 | $2,606 | $1,860 |
| Jun 2025 | $3,360 | $2,608 | $1,880 |
| Sep 2025 | $3,403 | $2,606 | $1,881 |
| Dec 2025 | $3,364 | $2,608 | $1,873 |
| Mar 2026 | $3,410 | $2,622 | $1,894 |
| Jun 2026 | $3,511 | $2,637 | $1,921 |
| Sep 2026 | $3,546 | $2,654 | $1,932 |
Typical home value: $477,000 in Miami vs $731,000 in New York
Typical home value, dollars. Quarterly.
- New York, NY
- Miami, FL
- 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
| New York, NY | Miami, FL | United States | |
|---|---|---|---|
| Mar 2015 | $412K | $219K | $189K |
| Jun 2015 | $415K | $224K | $192K |
| Sep 2015 | $420K | $230K | $195K |
| Dec 2015 | $428K | $236K | $199K |
| Mar 2016 | $432K | $241K | $202K |
| Jun 2016 | $436K | $246K | $204K |
| Sep 2016 | $438K | $251K | $206K |
| Dec 2016 | $443K | $256K | $209K |
| Mar 2017 | $451K | $261K | $213K |
| Jun 2017 | $458K | $266K | $216K |
| Sep 2017 | $463K | $271K | $219K |
| Dec 2017 | $468K | $276K | $223K |
| Mar 2018 | $473K | $281K | $227K |
| Jun 2018 | $480K | $284K | $230K |
| Sep 2018 | $486K | $289K | $234K |
| Dec 2018 | $489K | $294K | $236K |
| Mar 2019 | $493K | $297K | $239K |
| Jun 2019 | $498K | $297K | $242K |
| Sep 2019 | $499K | $298K | $244K |
| Dec 2019 | $502K | $303K | $247K |
| Mar 2020 | $509K | $310K | $252K |
| Jun 2020 | $514K | $310K | $255K |
| Sep 2020 | $514K | $314K | $260K |
| Dec 2020 | $529K | $326K | $271K |
| Mar 2021 | $548K | $338K | $282K |
| Jun 2021 | $564K | $353K | $296K |
| Sep 2021 | $572K | $370K | $306K |
| Dec 2021 | $582K | $385K | $314K |
| Mar 2022 | $597K | $412K | $330K |
| Jun 2022 | $617K | $443K | $346K |
| Sep 2022 | $619K | $456K | $348K |
| Dec 2022 | $613K | $459K | $345K |
| Mar 2023 | $611K | $461K | $343K |
| Jun 2023 | $621K | $469K | $347K |
| Sep 2023 | $631K | $479K | $352K |
| Dec 2023 | $639K | $488K | $354K |
| Mar 2024 | $651K | $494K | $357K |
| Jun 2024 | $665K | $499K | $361K |
| Sep 2024 | $675K | $499K | $361K |
| Dec 2024 | $684K | $497K | $363K |
| Mar 2025 | $688K | $493K | $364K |
| Jun 2025 | $693K | $484K | $362K |
| Sep 2025 | $697K | $476K | $362K |
| Dec 2025 | $706K | $473K | $364K |
| Mar 2026 | $716K | $474K | $366K |
| Jun 2026 | $722K | $473K | $365K |
| Sep 2026 | $731K | $477K | $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.