The cost of living in Miami

One of the hardest decisions to make, and also the most important is to choose where you want to live. Luckily, it’s always possible to change location and move to another city, but the first time you encounter this situation is unique. If you chose to live in Miami, you will not regret it! The city is bursting with life and opportunities. Before hiring some of the best movers in Florida, you will probably want to know if you can even afford to live in a city as big as Miami. The cost of living in Miami is daunting to most, but the good news is that it largely depends on several factors. We are sharing all the important stats and facts!

The cost of living in Miami depends on different aspects

The cost of living in Miami is above the national average. In fact, it is 11% more expensive than the US average. However, life is not all black and white. As with living in any city, the expenses of living in Miami vary from person to person. Depending on where you live, how much you earn, and whether you are renting or buying a home, your expenses will be different. After a successful relocation with Miami movers, you should get to planning your budget. Here are the factors that determine the price of living in the Magic City:

  • the size of your home and whether you are renting or buying
  • your salary
  • the neighborhood you live in
  • how much you pay for utilities
  • what you do for entertainment
sunset in the Magic City will make you forget the cost of living in Miami
The cost of living in Miami is more affordable than in other major US cities.

The housing market in Miami is suitable for everyone’s budget

Moving with residential movers in Miami will make the relocation process smooth. But, finding a home is all up to you. The median home price in Miami is $241,000 for a single-bedroom house. However, the price also largely depends on the location. That’s why downtown homes are significantly more expensive than homes in any other part of Miami. The price for a downtown home starts at $400 per square foot, while in other parts of the city they are almost twice as cheap at $240 per square foot. But, Miami is known for being the city of renters. An astounding 70% of residents are renting their homes. If you are planning on becoming one of them, the rent prices start at $1,800 in the city center, while they are around $1,300 for a one-bedroom apartment in other parts of the city.

There are plenty of employment opportunities in Miami’s thriving job market

The good thing about living in a city as big as Miami is the employment opportunities galore. Commercial movers in Miami are always busy moving someone’s office or company to a newer, hotter location. If you are planning on finding a job after you move to Miami, you will be happy to hear that the job market is thriving. Finding a well-paid job is easier in some fields than in others, of course. The best-paid positions are those of CEOs, General Practitioners, lawyers, and Sales and Financial Managers. However, you don’t need to be a CEO or a doctor to live comfortably in Miami. Research shows that you will need around $80,000 to live peacefully in the Magic City, without having to struggle to make ends meet.

The best neighborhoods in Miami

The expenses of living in any city are greatly influenced by the neighborhood you choose. Local movers in Miami know that the city is home to multiple wonderful neighborhoods. Whether you are looking for a vibrant one, bursting with life, or a calm, family-friendly neighborhood, you will find it in this diverse metropolis. Some of the best neighborhoods are:

  • Edgewater
  • Pinewood Park
  • Liberty City
  • Brownsville
  • The Hammocks
Miami beach aerial view
Miami is home to breathtaking neighborhoods.

The utilities are more affordable in Miami than in other major Florida cities

No one likes having to spend their hard-earned money on bills, but we all have to. Things like groceries, water, electricity, garbage, and other bills all influence the cost of living index for a certain place. The good news is that utilities in Miami cost less than in other major Florida cities such as Orlando or Jacksonville. Since Florida is very hot and humid all year long, the AC is necessary and it tends to run constantly. That can ramp up the electricity bill. However, Florida also has 13% cheaper electricity than most US states. There are also additional expenses such as storage Miami offers, but those can also be found at very amicable prices.

Entertainment is also something that increases the cost of living in Miami

Miami is famous for having fantastic entertainment options. However, those too add up to the total cost of living in Magic City. Miami offers fun activities for residents of all ages. From kids and young adults to senior citizens, everyone can find an activity they will enjoy. One of the most enjoyable things to do in Miami is to take a walk on one of its many picturesque sandy beaches. And best of all, it is free! If you want to treat yourself, you could go to one of its many exclusive, world-renowned restaurants.  There are countless hot clubs, popular pubs, and sightseeing tours as well if that’s more your jam.

Miami skyline
If you are tight on money, you can always enjoy Miami’s beautiful beaches for free.

Hire moving professionals today, the Magic City is waiting for you!

Moving to Maimi will be short and sweet with professional movers by your side. Depending on the services you book, they will take care of the relocation process so all that’s left for you to do is enjoy. Moving companies train their employees so they can provide the most efficient and seamless relocation experience to their clients. Having moving professionals do your relocation will not impact your budget negatively if you are worried about the cost of living in Miami. On the contrary, it can only do you good to move with no stress and anxiety!

 

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