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Renter’s City Guide to Miami, FL
Introducing Miami Expenses & Housing Stats Jobs & Education Lifestyle & Renting Tips

The city of Miami was founded in 1870, and it is the second-largest city in Florida. Miami is a popular holiday destination, famous for its great weather, trendy beaches and buzzing nightlife. It is also one of the largest hubs of international banks in the United States. 

How large is Miami?

With a population of around 451,000, Miami is the second-largest city in Florida. It is smaller than Jacksonville, the state’s biggest city, but larger than Tampa.

What is Miami culture like?

Miami’s culture has been greatly influenced by the Hispanic population, making it an ethnically and culturally diverse city and rightfully earning it the nickname of ‘Capital of Latin America.’ The city’s name most likely comes from the Seminole word “Mayaimi,” which means Big Water.

What is the weather like in Miami?

Miami temperatures average at around 67.2ºF in January and 82.6ºF in July.

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What are the pros of living in Miami?

Florida’s no personal income tax laws make Miami a very appealing city. Miami is also a great place to live for those who love outdoor activities, providing 109 parks that can be enjoyed all year round, thanks to the great weather. The city’s beaches, entertainment scene and lush shopping districts will ensure that you’ll always have something to discover.

What are the cons of living in Miami?

Miami is a growing city, and its constant development can make traffic problematic for those commuting to work. Overcrowding issues are also present in the city’s education system, with many schools being underfunded. Communication can also be difficult for those who only speak a foreign language, even though many locals are bilingual. Even though Miami is one of the wealthiest cities in the U.S., the living costs are still high, and many residents find them pressuring.

Miami Demographic Highlights
Total Population 440,807
Female
Male
218,635
222,172
Median Age 39.9
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Is Miami an expensive city?

Miami has a cost of living above the U.S. average, yet some amenities are, in fact, cheaper.

How much is public transportation in Miami?

Miami’s public transport is quite affordable, and many residents rely on it for commuting. Metrobus, Express bus and shuttle buses offer discounted fares, as does Metrorail. Taxi-hailing services like Uber are also available. 

How much is a meal in Miami?

A three-course meal for two in a good restaurant costs $75 per person on average, while a bottle of red wine is typically around $15. If you want to grab breakfast in the city’s business district, the average price is $15, but you can find fast food luncheons available for $8.

How much are utilities in Miami?

The monthly utility bill for a 915 sq. ft. apartment is around $150, including electricity, heating, cooling, water and waste disposal. Internet services will typically add an average of $65 to your monthly bills.

Miami Rent Statistics
Apartment Rent Ranges
$501 - $7000.04%
$701 - $1,0002.21%
$1,001 - $1,5008.94%
$1,501 - $2,00023.27%
> $200065.54%
Average Rent Trends
What is the average rent in Miami?

The average rent for an apartment in Miami is $2,396 per month.

What is the average apartment size in Miami?

The average apartment size in Miami is 887 sq. ft.

What is the rent for a studio apartment in Miami?

Rent for a studio apartment in Miami ranges between $562 and $6,800 per month.

What is the rent for a 1-bedroom apartment in Miami?

Rent for a 1-bedroom apartment in Miami ranges between $1,000 and $10,800 per month.

What is the rent for a 2-bedroom apartment in Miami?

Rent for a 2-bedroom apartment in Miami ranges between $653 and $36,000 per month.

What is the rent for a 3-bedroom apartment in Miami?

Rent for a 3-bedroom apartment in Miami ranges between $1,000 and $42,000 per month.

Miami Housing Statistics
Occupied Housing Units 181,597
Owner occupied 30.02%
Renter occupied 69.98%
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Is it hard to get a job in Miami?

The employment sector has recovered and stabilized since 2008. According to the Bureau of Labor Statistics (BLS), in May 2016, Miami’s unemployment rate was 5.5%, below the national average of 5.6%. Several sectors have seen job expansion, with the financial services sector growing by 5%, the construction industry by 8.3%, manufacturing by 2.6% and government employment by 0.8%. Since March 2015, the professional and business services sector has increased by 2.9%. The average weekly wages in Miami are $924. 

What are the top employers in Miami?

Some of the top employers in Miami are the University of Miami (12,818 employees), Baptist Health South Florida (11,353), American Airlines (11,031), Carnival Cruise Lines (3,500) and Fontainebleau Miami Beach (1,987).

Does Miami have income tax?

There is no personal income tax in Miami, nor is there in the entire state of Florida. This makes moving into the city a very appealing choice for young professionals looking to start a business.

Miami Employment Statistics
White Collar 178,926
Blue Collar 48,861
White Collar 78.55%
Blue Collar 21.45%
Self Employment 40,902
Private Companies 157,913
Governmental Workers 18,114
Not for Profit Companies 10,858
Self Employment 17.96%
Private Companies 69.32%
Governmental Workers 7.95%
Not for Profit Companies 4.77%
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How many public schools are there in Miami?

There are 392 schools in the city, governed by Miami-Dade County Public Schools (M-DCPS), the nation’s fifth-largest school district. It includes 345,000 students and over 40,000 employees.

Does Miami have good schools?

While there are many good schools in Miami, the private school system is stronger than the public one, so research your school districts carefully before picking a place to rent.

What are the top colleges in Miami?

Some of Miami’s top colleges are Florida International University, Miami-Dade College and the New World School of the Arts. The University of Miami is another contender, and in 2015 it was named most diverse university in the United States.

Miami Education Statistics
No High School10.72%
Some High School35.82%
Some College14.29%
Associate Degree7.94%
Bachelor Degree19.08%
Graduate Degree12.15%
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What are the main attractions in Miami?

Miami is a culturally diverse city, boasting a one-of-a-kind cuisine, architectural landmarks, a great music and theater scene, as well as education and career opportunities. With 629 main attractions, there’s always something to do, whether you’re into yachting and sailing, golf, tennis or other outdoor activities, as well as cultural events. The Vizcaya Museum and Gardens, Amelia Earhart Park, Perez Art Center and Zoo Miami are just some highlights. 

Where to go out in Miami?

Clubs like Ball & Chain and Blue Martini Kendall are popular with both locals and tourists who wish to enjoy Miami’s vibrant nightlife. There are plenty of choices for restaurant lovers as well, with Ceviche, Versailles, Crazy About You and others serving exquisite food.

What sports teams play in Miami?

Miami is home to several professional and university sports teams. The NFL Miami Dolphins and Miami Marlins both play at Dolphin Stadium in Miami Gardens. The American Airlines Arena in downtown Miami hosts the local NBA Miami Heat games, while Bank Atlantic Center in Sunrise is home to the NHL’s Florida Panthers. The city’s professional soccer team, Miami F.C., plays at Tropical Park Stadium.

What are the main annual events in Miami?

Miami’s dynamic cultural scene comes with a great variety of annual events. Highlights include the Cadillac Golf Championship, the Miami Marathon, Miami Fashion Week, International Boat Fair, as well as one of the largest international book fairs in the country. Events such as the outstanding Martin Luther King Day Parade also celebrate the city’s cultural heritage.

What parks are there in Miami?

Miami has 19 parks, offering great spots for walking and biking trails, as well as sports playgrounds. Most of them are pet-friendly. The most impressive is Matheson Hammock Park, founded on land donated by the prominent Matheson family, yet the 175 acres of the spectacular Biscayne Bay National Park follow close by. Miami also has some outstanding seaside parks, such as South Pointe Park in South Beach and North Shore Open Space Park.

Where to go shopping in Miami?

Miami is home to some of the best shopping in Florida. Lincoln Road is renowned for its boutique stores, and Sawgrass Mills is the largest factory outlet center in the city. Dolphin Mall has over 200 restaurants and shops while also being conveniently located close to Miami International Airport. Another excellent shopping spot is CocoWalk, an outdoor venue that combines shopping with dining and entertainment.

Miami Household Statistics
Total Number of Households 181,597
Average People Per Household 2
Median Household Income$47,860
Average Household Income$79,886
Family
Non-family
100,106
81,491
Children
No Children
41,683
139,914

How does a lease work in Miami?

Before you agree to a lease in Miami, there are several considerations to bear in mind. The first one is that leases can be both written as well as verbal agreements. If you do sign a lease, make sure that the landlord doesn’t have an ‘automatic renewal’ clause, as this is common practice. Another clause to look into is compliance with the new rules. Sometimes, leases may include a ‘rent may increase’ clause, which can see a spike in months when there is high demand. 

Is eviction common in Miami?

Florida and Miami have had strict eviction processes since 2008, following the collapse of the housing market and the recession. If your rent is three days late, landlords can begin eviction proceedings.

What are my tenant rights in Miami?

Landlords typically collect a one-month security deposit and the first month’s rent when the lease is agreed upon. As a tenant, you have the right to receive your security deposit back 15 days after lease termination.

Do I need to register my car in Miami?

You will need to obtain a Florida Driver’s License as well as register your car after moving to Miami. This can be easily sorted with the Florida Highway Safety and Motor Vehicles department.

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