Miami-dade County · Florida · South · 460k residents
Miami, FL: economy, jobs & business costs
The site-selection read on Miami: labor costs, talent, corporate tax, energy, and business activity, with the Florida median as the yardstick. Compare it live against any of 3,000 US cities.
Data coverage: Curated city row; coverage varies by fact.
Average weekly wages in the surrounding labor market run $1,573/wk. Florida's corporate income tax rate is 5.5%. Commercial electricity averages 11.0¢/kWh.
Compare Miami side by side
Avg. weekly wage
$1,573/wk
Corporate income tax
5.5%
Bachelor's degree or higher
37.4%
Commercial electricity
11.0¢/kWh
Economic momentum
How fast Miami's economy is moving, ranked against the US cities we track.
76/100
Heating
Ranks Miami's residential building-permit and jobs growth against the US cities we cover. The label is relative pace, not a direction, so a market can rank low while some figures still rise. A higher score moves faster, it is not cheaper or better. This is economic activity, not commercial lease rates or vacancy. Not investment or relocation advice.
| Median home value | $580,000 |
| Price per sq. ft. | $430 |
| Property tax rate | 0.95% |
| 1-bedroom rent | $2,500/mo |
| 2-bedroom rent | $3,100/mo |
| State & local income tax | 0% |
| Sales tax | 7% |
| Corporate income tax | 5.5% |
| Avg. weekly wage | $1,573/wk |
| Bachelor's degree or higher | 37.4% |
| Commercial electricity | 11.0¢/kWh |
| Businesses per 1k residents | 43.3/1k |
| Wage: Software developer | $132,650 |
| Wage: Registered nurse | $91,380 |
| Wage: General manager | $105,640 |
| Wage: Customer service | $39,560 |
| Wage: Warehouse worker | $36,110 |
| Wage: Heavy truck driver | $51,580 |
| Wage: Electrician | $58,630 |
| Wage: Retail salesperson | $34,330 |
| Cost of living index | 123 |
| Groceries index | 106 |
| Utilities | $165/mo |
| Transit pass | $112/mo |
| Gas price | $3.30/gal |
| Healthcare index | 103 |
| Childcare (per child) | $1,350/mo |
| Median household income | $60,000 |
| Unemployment rate | 3.2% |
| Population | 460k |
| Crime index | 49/100 |
| School rating | 6.0/10 |
| Walkability | 77/100 |
| Disaster risk | 100/100 |
| Avg. commute | 30 min |
| Sunny days / year | 248 days |
| July high | 88°F |
| January low | 61°F |
| Annual snowfall | 0 in |
| Home price YoY | -1.2% |
| Home price MoM | -0.1% |
| Rent YoY | +0.3% |
| Rent MoM | -0.1% |
| Employment (jobs) YoY | +1.4% |
| Building permits YoY | +19.9% |
| Ocean coast | 4 mi |
| Big lake | 88 mi |
| Mountains | 630 mi |
| Major airport | 6 mi |
| Ski resort | 703 mi |
Popular comparisons
Nearby
- Miami Beach, FL · 82k
- West Little River, FL · 34k
- Coral Gables, FL · 50k
- Coral Terrace, FL · 25k
- North Miami, FL · 60k
Similar size
- Tampa, FL · 402k
- Orlando, FL · 320k
- St. Petersburg, FL · 263k
- Port St. Lucie, FL · 232k
- Hialeah, FL · 226k
Real listings in Miami
LoopNet ↗Crexi ↗CommercialCafe ↗
Links open third-party listing searches. WhereToHQ has no paid relationship with these sites.
- Is Miami a good place to run a business?
- Florida's corporate income tax rate is 5.5%; average weekly wages in the surrounding labor market run $1,573/wk; commercial electricity averages 11.0¢/kWh. Weigh these against your own priorities in the business comparison tool.
- What is the cost of living in Miami, FL?
- Miami indexes at 123 for day-to-day costs against a national baseline of 100, with a typical two-bedroom renting for $3,100/mo and a median home value of $580,000.
- How much does a house cost in Miami?
- The median home value in Miami is $580,000 (compiled estimate; individual listings vary).
- How much is rent in Miami?
- A two-bedroom in Miami rents for about $3,100/mo.