Living in Miami Beach, Florida
Cost of living, income, home prices, rent and demographics of Miami Beach · Census data 2020–2024
Miami Beach has 82,031 residents with a median age of 42.9. The median household income is $72,856 (about the same as the Florida median), the median home value is $556,700, the median rent is $1,826/month.
Miami Beach at a glance
- Population
- 82,031
- Median age
- 42.9State: 42.6
- Median household income
- $72,856State: $74,568
- Median home value
- $556,700State: $359,000
- Median rent
- $1,826/moState: $1,669
- Homeowners
- 40.9%
- Bachelor's degree or higher
- 52.9%
- Average commute
- 27 min
Is Miami Beach a good place to live?
Pros: An average commute of 27 minutes; unemployment of 4.6%.
Cons: Median household income about the same as the Florida median; home values 55% higher than the state median; a poverty rate of 14.4%.
The weather is best in February–March and November–December.
Cost of living in Miami Beach
Housing is the biggest part of the cost of living. In Miami Beach the median home value is $556,700, 67% higher than the U.S. median. Renters pay a median of $1,826 per month, which is 35.7% of household income. Homeowners with a mortgage pay $3,256 a month in housing costs.
Miami Beach median household income
The median household income in Miami Beach is $72,856 and the income per person is $75,054. 14.4% of residents live below the poverty line (Florida: 12.6%).
Housing in Miami Beach: homes for sale and rent
- Housing units
- 63,243
- Owner-occupied
- 40.9%
- Renter-occupied
- 59.1%
- Vacant
- 34.2%Includes seasonal homes
- Median year built
- 1969
- Average household size
- 1.95
34.2% of homes are vacant most of the year, a sign that Miami Beach has many vacation and second homes.
Miami Beach demographics
- Population
- 82,031
- Median age
- 42.9
- Under 18
- 15.1%
- 65 and older
- 18.8%
- Households
- 41,600
- Foreign-born
- 52.9%
- Veterans
- 2.9%Adults 18+
Hispanic or Latino can be of any race. Population history of Miami Beach ›
Education in Miami Beach
52.9% of adults 25 and older in Miami Beach have a bachelor's degree or higher (Florida: 34.1%), and 24% have a graduate or professional degree.
Jobs and commute in Miami Beach
- Unemployment rate
- 4.6%State: 4.8%
- Average commute
- 27 minState: 28 min
- Work from home
- 23.9%
- Drive alone
- 46.5%
- Public transit
- 6.3%
- Walk to work
- 8%
- Homes with broadband
- 87.6%
Miami Beach vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Miami Beach | 82,031 | $72,856 | $556,700 | $1,826 |
| North Bay Village | 8,118 | $84,405 | $464,200 | $2,157 |
| Fisher Island | 1,026 | $250,001 | $2,000,001 | — |
| Miami Shores | 11,752 | $144,050 | $864,400 | $2,657 |
| El Portal | 1,809 | $108,167 | $723,900 | $2,042 |
| Miami | 459,745 | $62,462 | $518,100 | $1,758 |
| Surfside | 5,631 | $100,208 | $881,700 | $1,866 |
| Bay Harbor Islands | 5,847 | $89,663 | $653,500 | $2,442 |
| Biscayne Park | 3,085 | $77,083 | $674,300 | $1,529 |
More for people moving to Miami Beach
Miami Beach ZIP code ›Weather and climate ›Living in Miami Beach: FAQ
What is the median household income in Miami Beach, FL?
The median household income in Miami Beach is $72,856, about the same as the Florida median of $74,568 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Miami Beach?
The median home value in Miami Beach is $556,700, compared with $359,000 in Florida.
How much is rent in Miami Beach?
The median gross rent in Miami Beach is $1,826 per month, about 35.7% of household income.
Is Miami Beach, FL a good place to live?
Pluses: an average commute of 27 minutes; unemployment of 4.6%. Minuses: median household income about the same as the Florida median; home values 55% higher than the state median; a poverty rate of 14.4%.
What is the median age in Miami Beach?
The median age in Miami Beach is 42.9 years (Florida: 42.6).
How long is the commute in Miami Beach?
The average commute to work in Miami Beach is 27 minutes; 23.9% of workers work from home.
What is the unemployment rate in Miami Beach?
The unemployment rate in Miami Beach is 4.6% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Miami Beach?
52.9% of adults in Miami Beach have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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