How Much Does It Cost To Live In Miami in 2024? Is It Really That Expensive??

Are you planning to move to Miami but you don't know how much you need to earn per month to have a standard lifestyle. This video will offer you a thorough analysis. I'll delve into crucial elements such as housing expenses, income averages by neighborhood, entertainment costs, and more. This will give you a clear understanding of the financial prerequisites for your new life in the city.
Are you thinking OF BUYING OR SELLING IN MIAMI / SOUTH FLORIDA?
☎️ CONTACT Stefania Mogollon
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Email: [e-mail]
www.StefaniaMogollon.com
Instagram / stefaniamogollon
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00:00 Introduction
01:33 Property Taxes
02:11 Home Insurance
03:07 Rentals
03:38 Utilities
04:31 Transportation
06:24 Food and Groceries
07:22 Entertainment and Leisure
09:33 Health Insurance
10:06 Taxes
12:57 Average Household Income in Neighborhoods
13:58 Final Thoughts
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[@markzavulun1919]

Wow. Great video. I remember you from KW Landmark 2. You had so much energy, passion, desire to succeed in RE, and you did. Congratulations on your move and Best of Luck

[@stefaniamogollon]

Thank you very much for the kind words and good wishes, that fills me with motivation to keep growing

[@robertm.2287]

Muy buena presentacion! La Felicito!!

[@stefaniamogollon]

Muchas gracias Robert, déjame saber qué más te gastaría ver acerca de Miami? 🙌

[@CW-ez7mn]

Miami is not the only city in southeast FL. I started in Miami area but there are more affordable places as I migrate more and more north over the last 12 years. I am ready to move even up to space coast for more affordable housing, better active lifestyle and more green space.

[@stefaniamogollon]

You are right, Miami is not the only city in South Florida. Where you decide to live depends on the lifestyle you want.

[@fkcavs]

The issue with Miami in general is that most salaries do not compare to those of other big cities like NY, LA, and Chicago for example. Take that with massive inflation and its made Miami insanely expensive. A salary of 90k per year is pretty much a minimum if you plan to live alone in Miami.

[@stefaniamogollon]

unfortunately that's true. Hopefully salaries will match the cost of living in the near future

[@antoniohiram_a.z.8946]

Thanks!!!!

[@stefaniamogollon]

Glad you liked it 🙌

[@kknj4605]

Miami, Florida is the 3rd most expensive city in USA (3 out of 30)

[@stefaniamogollon]

It certainly not the cheapest but the recent report by CNBC didn’t show Miami in the top 15 You can review it here www.cnbc.com/2023/08/22/us-cities-with-the-highest-cost-of-living.html let me know what you think

[@datingandlifeadvicechannel7534]

Miami is def one of the most expensive stop giving people fake information you are not even from miami why not cover your Tits

[@Aggie4life77]

I wonder if it’s only certain parts of Miami like downtown, Brickell, south beach, etc. further out in the burbs may be a lot cheaper. With that said, I’m sure the major cities in California would be ahead oh Miami right now. Then you have to look at DC, NY and possibly Seattle. Miami will be in the top 5 in roughly 5-10 years though.

[@QueOndaWhey]

@@stefaniamogollon Muchas gracias por tu analisis. CNBC is sloppy.

[@MikeBDaniels-bv8io]

Thanks for the info. Frankly, some items you’ve mentioned seem low to what I’ve looked up online (especially rent, which I’ve checked many places in Brickell and downtown). I’ve been considering moving to either Miami or to Lima, Peru. I probably should go to Miami for the winter, really check it out. But thanks, all info from someone knowledgeable is helpful.

[@stefaniamogollon]

Thank you for your comment, the information may vary a bit depending on the source but remember that the data I mention is an average for all of Miami-Dade. And if you decide to move to Miami, remember that you can contact me anytime, and I will be happy to help you in all your process.

[@MikeBDaniels-bv8io]

@@stefaniamogollon Thank you.

[@cristina9012]

Avg rent in brickle is $5k a month. If you are looking to buy expect to pay $950k in brickle for a 1 bedroom with an insane HOA. Good luck

[@MikeBDaniels-bv8io]

@@cristina9012 Thanks for the info. Guess I won’t be moving to Brickell, lol. I currently pay $1,575 plus electric nice one-bedroom (1,060 sq ft) with garage parking and 24-hour desk in a nice building in a nice neighborhood in a shithole of a city. I’m looking to lower my rent, live somewhere half-way safe (in the U.S.., 😳). I guess I should just be grateful what I have and thank God too that I’m old. God help you if you’re still young, have high rent in a typical American city.

[@cristina9012]

@@MikeBDaniels-bv8io I would definitely stay where you are at unless you are willing to live far out about 25 minutes from the city center of Miami. I live 25 minutes from downtown and I have a 2 bed 2 bath apartment, rent is $2,500. I pay light/water/internet. My apartment has no elevator, so I have to walk up the stairs with groceries. Parking is limited, we are allowed only 2 parking spaces but many times I have to park down the street. If you are looking to use public transportation, you will have to drive to the triRail station if you live out like me. Dont want to be discouraging but Miami is a greedy city, rent is super high relative to wages in the area. They are definitely pushing the common person out and making way for the elite.

[@birungisidahkizito5020]

I wish I could live there, but it will actually only be a dream. 😩😆

[@stefaniamogollon]

A dream that can become a reality, never forget that. 🙌

[@birungisidahkizito5020]

@@stefaniamogollon I know, but unfortunately I don't have the financial resources for it. If I had the money I would choose this city immediately. But I'll be back soon for a vacation. It was really a nice time. 😩🙂

[@nemesisenforcer907]

Florida is too expensive and there are many hidden costs. The employment salaries does not keep up with the cost of living. It looks great weather wise BUT you will be working more than one job and will not have the time to enjoy any of it.

[@stefaniamogollon]

Thanks for sharing

[@tgarcia0917]

Such good valuable information 🙌🏽

[@stefaniamogollon]

Glad it was helpful!

[@taibinrazzaque3079]

Dallas is getting expensive but Miami got better jobs specially if you rideshare food delivery and hospitality and tourism

[@stefaniamogollon]

Correct!

[@Andrembramwell]

I own an auto transport company Bigfella Auto Express. Do you currently work with any transportation companies for your clients? Would love to network.

[@stefaniamogollon]

That is amazing, let's connect

[@rubenplazabarroso6817]

Sigue siendo un sueño muy muy lejano aun poder mudarme a miami vivir. 😅

[@stefaniamogollon]

Tal vez lejano, pero nunca imposible. Sigue luchando por tus sueños Ruben 😍🙌

[@rubenplazabarroso6817]

@@stefaniamogollon lo único que me da fuerzas para no desistir de irme a vivir alli, esq el día que me mude aunque sea brevemente pero la conoceré.

[@itguru2037]

Is that net income or gross?

[@stefaniamogollon]

Gross Income

[@michaelgerardcondon8531]

Yah you really sound like a new yorker

[@stefaniamogollon]

haha! what do you mean?