Miami, FL
Population 446,663 · Florida
About Miami, FL
Miami is a major city located in Florida with a population of 446,663 residents according to the latest US Census Bureau American Community Survey data. The median household income is $59,390 per year, which is 21% below the national median of $75,149. The median age of 39.7 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Miami features a median home value of $475,200, which is 94% above the national median of $244,900. This places Miami in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $1,657, 42% above the national average of $1,163/month. Of the 219,809 total housing units, 31% are owner-occupied (58,481 units) and 69% are renter-occupied (131,801 units). The higher proportion of renters may reflect a transient population, younger demographics, or high housing costs relative to income.
Economy & Employment
The local economy in Miami shows an unemployment rate of 5.0%, which is near the national rate of 3.7%. The poverty rate stands at 19.2%, above the national average of 12.4%. Workers in Miami have an average one-way commute time of 27.3 minutes.
Education & Demographics
35.6% of Miami residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 2.2% White, 0.9% Hispanic or Latino, 3.3% Black or African American, and 34.8% Asian residents, with 57.7% of the population being foreign-born.
How Miami Ranks in Florida
Cost of Living in Miami, FL
Compared to national averages, Miami has a median household income of $59,390 (21% below the national median of $75,149). Home values average $475,200, which is 94% above the national median. Monthly rent at $1,657 is 42% above the US average of $1,163. Within Florida, Miami's income is 22% below the state average of $75,893, and home values are 34% above the state median of $353,675.
Why Live in Miami, FL?
Miami offers a well-educated community where 35.6% of residents hold a bachelor’s degree or higher.
Potential considerations include median household income ($59,390) that falls below the national average, and a competitive housing market where the typical home costs $475,200. However, as a major city, Miami provides access to a wide range of amenities and services.
Miami has a population of 446,663 with a median age of 39.7 years. Compare Miami with other cities to see how it stacks up, or explore all cities in Florida.
Similar Cities Near Miami
Cities in Florida with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Tampa | 393,389 | $71,302 | $375,300 | Compare |
| Orlando | 311,732 | $69,268 | $359,000 | Compare |
| St. Petersburg | 260,646 | $73,118 | $331,500 | Compare |
| Hialeah | 221,901 | $53,079 | $359,200 | Compare |
| Port St. Lucie | 220,453 | $78,137 | $327,700 | Compare |
| Cape Coral | 206,387 | $76,062 | $339,200 | Compare |
| Tallahassee | 199,696 | $55,931 | $276,000 | Compare |
| Fort Lauderdale | 183,032 | $79,935 | $455,600 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Florida
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Miami With Other Cities
Frequently Asked Questions about Miami
What is the population of Miami, FL?
The population of Miami, FL is 446,663 according to the latest US Census Bureau American Community Survey estimates. This makes it a major city in Florida.
What is the median household income in Miami?
The median household income in Miami, FL is $59,390 per year, which is 21% below the national median of $75,149.
What is the median home value in Miami?
The median home value in Miami, FL is $475,200, which is 94% above the national median of $244,900. A significant portion of residents rent their homes.
What is the average rent in Miami?
The median monthly rent in Miami, FL is $1,657, which is 42% above the national average of $1,163/month.
What is the unemployment rate in Miami?
The unemployment rate in Miami, FL is 5.0%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Miami, FL a good place to live?
Miami offers a moderate cost of living, a competitive housing market, and growing employment opportunities. With a population of 446,663 and a median age of 39.7, the city appeals to a broad range of residents.
How educated is Miami, FL?
35.6% of residents in Miami aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Miami?
Key cost-of-living indicators for Miami, FL: median home value is $475,200 (94% above national), median rent is $1,657/month, and median household income is $59,390. The home-value-to-income ratio is 8.0x, which suggests housing may be stretched relative to local earnings.
What is the poverty rate in Miami?
The poverty rate in Miami, FL is 19.2%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Miami, FL?
Miami's population is 2.2% White, 0.9% Hispanic or Latino, 3.3% Black or African American, 34.8% Asian, and 12.7% two or more races. 57.7% of residents are foreign-born.