North Miami Beach 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.
IndexNorth Miami BeachFloridaNational
Cost of living index101100100
IndexNorth Miami BeachFloridaNational
Goods & Services index106101100
Groceries index107105100
Health care index10497100
Housing index8995100
Transportation index117105100
Utilities index97102100
Displayed above is a general overview of the North Miami Beach, FL cost of living index. The overall cost of living index in North Miami Beach, FL is 101, which is 1% higher than the Florida average and 1% higher than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in North Miami Beach, FL are 6% higher than the Florida average and 6% higher than the national average.

Did you know?

  • The cost of living in North Miami Beach is 1% higher than the Florida average.
  • The cost of living in North Miami Beach is 1% higher than the national average.
  • The cost of housing in North Miami Beach is 11% lower 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 North Miami Beach, FL Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current income in North Miami Beach, FL to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of North Miami Beach, FL, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the North Miami Beach, FL salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$49,043$4,087$1,144$1,471
Renters$26,988$2,249$630$810
The affordability of the housing market in North Miami Beach, FL as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among North Miami Beach, FL homeowners, the median income is $49,043. This indicates that a monthly maximum of $1,144 should be spent by homeowners on all housing related costs. Renters have a median income of $26,988. This indicates that renters should have a maximum of $630 used for their rent related monthly costs.

Florida Sales Tax

StateGeneral Sales TaxWith Max Surtax
Florida6%7.5%

Florida Income Tax

StateIncome Tax (Low)Income Tax (High)
Florida0%0%
For those who live in North Miami Beach, FL and want to know what the true cost of living is, they ought to look at both the Florida income tax rate and the Florida sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Florida, the sales tax is 6%, while the most you'll pay in surtax is 7.5%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Florida, the income tax rate ranges between 0% to 0%.

Goods & Services

ItemNorth Miami BeachNational 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

ItemNorth Miami BeachNational 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

ItemNorth Miami BeachNational 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

ItemNorth Miami BeachNational avg.Difference
Home Price $142,600.00$175,700.0018.8%
Avg. Mortgage Payment $1,310.50$1,081.0321.2%
Apartment Rent $974.00$920.005.9%

Transportation

ItemNorth Miami BeachNational avg.Difference
Gasoline $2.32$2.0911.1%
Tire Balancing $59.59$45.2931.6%

Utilities

ItemNorth Miami BeachNational 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%
Franklin Park, FL1,00090-10%
Brownsville, FL14,83593-7%
North Miami Beach, FL43,0281011%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Lompoc, CA43,04511111%
Fond du Lac, WI43,00794-6%
Moline, IL43,08790-10%
Bountiful, UT42,9471077%
Danville, CA42,891204104%
North Miami Beach, FL43,0281011%
Source: The North Miami Beach, FL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.