Cost of Living in North miami beach, FL
North miami beach cost of living index: 114.9 (above the US average). Median home price: $545,000.
Updated 2026 • Based on 2 local zip codes
📍 Some data sourced from nearby metro area
14% above the national average
Housing
Data from 2 zip codes
Housing costs in North miami beach, FL based on real market data from 2 local zip codes.
Based on the provided data for North miami beach, FL, the housing market appears to be quite favorable, with a median home price of 545000.0. Although specific rental prices are not available, a housing index of 117.0 indicates possible stagnation or volatility in the rental segment. It's crucial to consider broader economic factors, such as job growth and local amenities, that could impact housing demand. Research neighboring areas or consider future development plans in North miami beach to assess long-term investment potential, especially if house prices remain stable over time.
Last updated: January 2026
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living.
Living in North miami beach, FL could entail variable utility costs. Electricity costs sit at $13.89, while natural gas is priced at $26.13 per Thousand Cubic Feet. Expect to budget about $96.7 monthly for other services like water and garbage.
Cost Breakdown by Category
Local Income & Economy in North miami beach, FL
How far does your money go in North miami beach? Understanding the relationship between income and cost of living is key to evaluating affordability.
How We Calculate Adjusted Purchasing Power in North miami beach
The adjusted purchasing power shows what a North miami beach, FL household income is actually worth after accounting for local prices. We calculate it using the formula: Purchasing Power = Median Income ÷ Cost of Living Index × 100
For North miami beach, that's $56,122 ÷ 114.9 × 100 = $48,844. This means a household earning the median income in North miami beach has the equivalent buying power of $48,844 in a city where the cost of living index equals the national baseline of 100.
North miami beach's cost of living index of 114.9 is moderately above the US average, meaning residents pay 14% more for typical goods and services. However, with a median household income of $56,122, many families find North miami beach affordable relative to other cities in FL. The adjusted purchasing power of $48,844 reflects a slight reduction in buying power, but strong local job markets and quality of life often offset the higher expenses.
The local unemployment rate of 2.7% is below the national average, indicating a strong job market in North miami beach, FL. Combined with a median income of $56,122, this suggests good earning potential that helps offset the above-average cost of living.
💡 Purchasing power is calculated by dividing the local median household income by the cost of living index and multiplying by 100. A result higher than the nominal income means your money goes further; a lower result means local prices erode your earnings. The US baseline cost of living index is 100.
Pros & Cons of Living in North miami beach
Pros
- • Close to Miami attractions
- • Diverse community culture
- • Active outdoor lifestyle
- • Great beaches and parks
- • Various kids' activities
- • Vibrant nightlife options
- • Public transportation available
- • Growing job market opportunities
- • Strong local restaurants
- • Mild winter weather
Cons
- • High crime rates reported
- • Economic disparities present
- • Often expensive housing
- • Humidity can be uncomfortable
- • Hurricanes are a risk
- • Seasonal tourist crowds
- • Public schools have mixed ratings
- • Traffic can be congested
- • Racism noted by some
- • Limited cultural events
💡City Insights
North miami beach scores 3/10 for affordability, 5/10 for safety, and 5/10 for family-friendliness — an average overall profile. However, affordability is a weaker area that prospective residents should consider carefully.
Frequently Asked Questions
What is the cost of living in North miami beach, FL? ▼
The cost of living in North miami beach, FL is 15% higher than the national average, with a cost of living index of 115 (where 100 represents the U.S. average). Housing typically accounts for the largest portion of living expenses. See full cost of living breakdown →
How much does it cost to buy or rent a home in North miami beach, FL? ▼
In North miami beach, FL, The median home price is $545,000. requiring approximately $159,643 annual income to afford. Average rent is $2,850/month (requiring ~$114,000/year income). The local median household income is $56,122, making homeownership challenging for typical residents. Explore North miami beach real estate data →
Is North miami beach, FL a safe place to live? ▼
North miami beach, FL is average in terms of safety, with crime rates near the national average. Safety varies significantly by neighborhood. View detailed North miami beach crime statistics →
What salary do you need to live comfortably in North miami beach, FL? ▼
To live comfortably in North miami beach, FL and afford a median-priced home of $545,000, you would typically need a household income of $136,250 to $170,312 per year. The local median household income is $56,122. Renting requires approximately $114,000/year (at $2,850/month). See full affordability analysis →
What are the best neighborhoods in North miami beach, FL? ▼
The best neighborhoods in North miami beach, FL depend on your priorities. For families, look for areas near top-rated schools with lower crime rates. For affordability, neighborhoods farther from the city center tend to offer more affordable options.
How are the taxes in North miami beach, FL? ▼
Tax rates in North miami beach, FL include state and local components. The cost of living index of 115 indicates a higher cost environment compared to the national average. View detailed North miami beach tax information →
How does North miami beach, FL compare to nearby cities? ▼
North miami beach, FL offers comparable costs to nearby communities. With a cost of living index of 115, median home prices of $545,000, and a crime rate of 0 per 1,000 residents, you can compare these metrics side-by-side. Use the compare feature to evaluate specific cities.
What is the weather like in North miami beach, FL? ▼
Weather in North miami beach, FL varies by season. Climate data varies by season. View detailed North miami beach climate & environment data →
What factors affect cost of living in North miami beach, FL? ▼
The main factors affecting cost of living in North miami beach, FL include housing costs (the biggest factor), utilities, groceries, transportation, and healthcare. Local taxes and the overall economic conditions also play a role.
Housing Costs by Zip Code
Detailed housing data across 2 zip codes in North miami beach, FL.
| Zip Code | Median Home Price | Avg Rent | 2BR Rent | For Sale | For Rent |
|---|---|---|---|---|---|
| 33160 | $630,000 | $7,150/mo | $3,500/mo | 2,032 | 1,409 |
| 33162 | $460,000 | $2,608/mo | $2,200/mo | 271 | 266 |
Explore More About North miami beach, FL
📅 Last Updated: January 2026
Sources: U.S. Census Bureau (ACS), Bureau of Labor Statistics, Council for Community and Economic Research (C2ER), Zillow, Redfin