Miami Lakes cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexMiami LakesFloridaNational
Cost of living index123100100
IndexMiami LakesFloridaNational
Goods & Services index106101100
Groceries index107105100
Health care index10497100
Housing index16395100
Transportation index117105100
Utilities index97102100
A general overview of the cost of living index for Miami Lakes, FL is displayed above. In Miami Lakes, FL, the overall cost of living index is 123, which is 23% higher than the Florida average and 23% higher than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Miami Lakes, FL, the city's goods and services are 6% higher than the Florida average and 6% higher than the U.S. average.

Did you know?

  • The cost of living in Miami Lakes is 23% higher than the Florida average.
  • The cost of living in Miami Lakes is 23% higher than the national average.
  • The cost of housing in Miami Lakes is 63% higher than the national average.
  • Florida general sales tax is 18% higher than the national average.
  • Florida state income tax is 100% lower than the national average.

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Compare Miami Lakes, FL Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
The salary calculator is meant to help you compare your salary in Miami Lakes, FL to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Miami Lakes, FL, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Miami Lakes, FL salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$77,114$6,426$1,799$2,314
Renters$48,359$4,030$1,128$1,451
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Miami Lakes, FL, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Miami Lakes, FL homeowners have a median income of $77,114. Using that number, you will come up with a maximum of $1,799 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $48,359, which means there is a maximum of $1,128 to be spent on the costs of renting a home or apartment.

Florida Sales Tax

StateGeneral Sales TaxWith Max Surtax
Florida6%7.5%

Florida Income Tax

StateIncome Tax (Low)Income Tax (High)
Florida0%0%
When considering the overall cost of living expenses in Miami Lakes, FL, it's important to take into account the sales tax for Florida, as well as the rate for income tax in Florida. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for Florida is 7.5%, and the sales tax in the state of Florida is 6%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in Florida starts from 0% and goes up to 0%.

Goods & Services

ItemMiami LakesNational avg.Difference
Haircut $15.60$14.596.9%
Beauty Salon $45.00$34.6829.8%
Toothpaste $2.70$2.479.2%
Shampoo $1.07$1.024.7%
Movie $10.81$9.879.5%
Bowling $8.26$4.3988.1%

Groceries

ItemMiami LakesNational avg.Difference
Ground Beef $5.13$4.4814.6%
Fried Chicken $1.57$1.467.2%
Milk $2.71$2.3615.0%
Potatoes $3.39$3.0610.7%
Pizza $8.99$9.242.7%
Beer $8.43$8.632.3%

Health Care

ItemMiami LakesNational avg.Difference
Optometrist $80.50$99.7819.3%
Doctor $97.86$105.036.8%
Dentist $97.00$88.709.4%
Ibuprofen $10.49$9.4111.5%
Lipitor $332.58$298.5011.4%

Housing

ItemMiami LakesNational avg.Difference
Home Price $298,500.00$175,700.0069.9%
Avg. Mortgage Payment $1,310.50$1,081.0321.2%
Apartment Rent $1,356.00$920.0047.4%

Transportation

ItemMiami LakesNational avg.Difference
Gasoline $2.32$2.0911.1%
Tire Balancing $59.59$45.2931.6%

Utilities

ItemMiami LakesNational avg.Difference
All Electricity$166.37$170.802.6%
Phone $27.52$28.262.6%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Fisher Island, FL2401066%
Medley, FL94090-10%
Pembroke Park, FL6,22089-11%
Brownsville, FL14,83593-7%
Opa-locka, FL15,86794-6%
Miami Lakes, FL30,39612323%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Ithaca, NY30,3991077%
Des Moines, WA30,40311616%
Chicago Heights, IL30,41092-8%
Clearfield, UT30,36196-4%
North Royalton, OH30,3531033%
Miami Lakes, FL30,39612323%
Source: The Miami Lakes, FL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.