New York City vs Miami
Cost of Living (2026)

Miami is 34% more affordable than New York City. Plus, Florida has no state income tax vs New York's 6.85%.

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At a glance

New York City, NY

COL index187
State income tax6.85%
Avg 1BR rent$3,400/mo
Median home price$750K
VS

Miami, FL

COL index123 ✓
State income taxNone ✓
Avg 1BR rent$2,300/mo ✓
Median home price$600K ✓

Cost breakdown by category

CategoryNew York City indexMiami indexDifference
Housing247161 ✓-86%
Groceries175116 ✓-59%
Transportation173116 ✓-57%
Healthcare180119 ✓-61%
Utilities164114 ✓-50%

Source: C2ER Cost of Living Index 2026. Index = 100 is US average. ✓ indicates lower cost. How we calculate this →

Salary equivalency: New York City → Miami

What salary in Miami gives you the same purchasing power as your New York City salary?

Salary in New York CityEquivalent in MiamiDifference
$60,000$36,000$-24,000
$80,000$47,000$-33,000
$100,000$59,000$-41,000
$130,000$77,000$-53,000
$150,000$89,000$-61,000
$200,000$119,000$-81,000

New York City vs Miami: Full Cost of Living Comparison (2026)

When comparing the cost of living between New York City, NY and Miami, FL, Miami comes out significantly more affordable with a COL index of 123 versus 187 for New York City — a difference of approximately 34%.

State income tax impact

Florida has no state income tax, giving Miami workers an immediate 6.85% take-home pay advantage over New York City workers who pay New York's 6.85% state income tax.

Housing costs

The median home price in New York City is $750,000, compared to $600,000 in Miami. Average 1-bedroom rent is $3,400/month in New York City versus $2,300/month in Miami.

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