Cost of Living in South miami, FL
Housing
The housing market plays a significant role in determining the cost of living in South miami, FL.
- Housing Index: 110.9 / 100
- Median Home Price is: $436,000
- Average Rent (2 BR Apartment): $2596 per month
- Average Rent (2 BR House): $2822 per month
When considering a move to South miami, FL, the housing market shows a median home price of 436000, which can be indicative of a moderate to high demand area. However, with a housing index of 110.9, it suggests favorable purchasing conditions which may not reflect current average rents for 2-bedroom apartments or houses (both at 2596 and 2822 respectively). This discrepancy could indicate potential opportunities for first-time buyers. It's crucial to also explore local amenities, schools, and job markets that could influence your decision-making.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in South miami, FL.
- Electricity Price: $13.89 USD (median by state)
- Natural Gas Price: $26.13 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $243 per month
Living in South miami, FL could entail higher utility costs. Electricity costs sit at $13.89, while natural gas is priced at $26.13 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $243 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if South miami is a financially viable option for your relocation.