The numbers, side by side
| Metric | New York | Miami | Difference |
|---|---|---|---|
| Cost-of-living index | 187 | 125 | -62 |
| 1-bed rent (avg) | $3,200 | $1,800 | -$1,400 |
| 2-bed rent (avg) | $4,100 | $2,350 | -$1,750 |
| Median household income | $67,046 | $58,234 | -$8,812 |
| Population | 8,336,817 | 442,241 | -7,894,576 |
What salary you'd need in Miami
To maintain your New York purchasing power, here's what you'd need to earn in Miami.
New York vs Miami: which makes more sense for you?
On paper, New York's cost-of-living index of 187 runs roughly 33.2% higher than Miami's 125. But that headline number papers over real differences in how that cost is distributed — rent might be far more expensive while groceries and transit costs run closer to even.
The rent gap
A 1-bedroom apartment in New York averages $3,200/month, vs $1,800/month in Miami — a -$1,400 difference. For 2-bedrooms, the gap widens to -$1,750/month. Over a year, the rent difference alone is $16,800 on a 1-bed.
Income context
Median household income in New York is $67,046, while Miami runs $58,234 (-$8,812 difference). That matters for how the cost-of-living gap actually feels day-to-day — if local salaries are also higher, the cost difference washes out partly. If local salaries lag the cost-of-living gap, your paycheck buys noticeably less.
State tax differences
New York is in New York and Miami is in Florida, so you'll also pick up a state-tax difference. Tax-free states like Texas, Florida, Tennessee, Washington, and Nevada deliver real take-home upside even when nominal salaries are similar.