A detailed side-by-side comparison of the cost of living, housing prices, income levels, and overall affordability between Los Angeles, CA and Miami, FL.
CA
Population: 3,820,914
FL
Population: 449,514
National average = 100. Higher values indicate a more expensive area.
| Metric | Los Angeles, CA | Miami, FL | Difference |
|---|---|---|---|
| Cost of Living Index | 170 | 135 | +25.9% |
| Median Home Price | $850,000 | $450,000 | +88.9% |
| Property Tax Rate | 0.76% | 0.97% | -21.6% |
| Median Household Income | $75,902 | $46,390 | +63.6% |
| Population | 3,820,914 | 449,514 | +750.0% |
Miami, FL is 25.9% cheaper to live in than Los Angeles, CA, based on the overall cost of living index.
Home Price Difference
$400,000
Miami, FL is cheaper by 88.9%
Income Difference
$29,512
Los Angeles, CA earns more by 63.6%
Price-to-income ratio: median home price divided by median household income. A lower ratio indicates more affordable housing.
Los Angeles, CA
11.2x
$850,000 / $75,902
Miami, FL
9.7x
$450,000 / $46,390
Overall, Miami, FL is the more affordable city to live in. With a cost of living index of 135 compared to 170, a median home price of $450,000, and a price-to-income ratio of 9.7x, Miami, FL offers better value for residents looking to stretch their dollar further. However, the median household income in Los Angeles, CA ($75,902) is higher, which may offset some of the cost differences.