How much rent can you afford in Miami, FL?
Run your salary against Miami's current rent, or find the income you'd need for a target rent. Powered by live RentDataNow medians.
The 30% rent rule, in Miami
At a median rent of $2,965/mo, Miami is expensive when measured against Miami median household income of $62,462/yr. Rent would consume roughly 57% of pre-tax income, and a salary of about $118,600 keeps rent at the recommended 30% threshold.
How Miami compares nearby
Median rent for the closest cities with data.
Frequently asked
How much rent can I afford in Miami?
On a $62,462 salary (the Miami median household income), the recommended ceiling is 30% of pre-tax income, or about $1,562/mo. Miami's median rent is $2,965/mo. Use the calculator on this page to run your own salary.
What salary do I need to live in Miami?
To keep Miami's $2,965/mo median rent under 30% of income, you'd need about $118,600/yr. Lower your target share (e.g. 25%) to need more, or raise it (e.g. 40%) to need less.
Is Miami affordable on the median Florida income?
Miami is expensive on a $62,462 income. Rent would take 57% of pre-tax pay, outside the recommended 30% threshold.
What's the 30% rent rule?
The 30% rule is a long-standing budgeting guideline that keeps rent at or below 30% of gross (pre-tax) income. It leaves enough room for utilities, transit, savings, and debt service. In high-cost markets, many renters exceed 30%, and the Census Bureau classifies households paying more than 30% of income on rent as "cost-burdened".