City comparison
Miami, FL vs New York, NY
What a paycheck is really worth in each city: prices, rent and state taxes.
Key findings
- Prices in Miami, FL are 1.4% higher than in New York, NY. Someone earning $100,000 in New York, NY would need about $101,400 in Miami, FL to live the same way.
- Rent is the bigger story: a typical 1-bedroom costs $2,655 a month in New York, NY versus $1,995 in Miami, FL. On $100,000, that's 43% of take-home pay in New York, NY and 30% in Miami, FL.
- On $100,000, estimated state income tax is about $4,860 a year higher in New York, NY than in Miami, FL.
- For federal employees, locality pay changes a GS-13 step 1 salary by +10.7% moving from Miami, FL to New York, NY ($113,356 → $125,431), while prices change by −1.4%. Net effect of the transfer: +12.2% in real buying power.
- Miami, FL: price level 114.2 (much pricier)
- New York, NY: price level 112.6 (much pricier)
Map drawn from Census Bureau state boundaries and metro locations9,10; dot colours show BEA price levels2.
Side by side
| Miami, FL | New York, NY | |
|---|---|---|
| Price level (U.S. = 100)2 | 114.2 | 112.6 |
| $100,000 is worth, in the other city2 | $98,605 in New York | $101,414 in Miami |
| Typical 1-bedroom rent3 | $1,995/mo | $2,655/mo |
| Take-home on $100,00014,15,8 | $79,180 | $74,320 |
| State income tax on $100,000 (estimate)8 | $0 (FL) | $4,860 (NY) |
| Rent burden on $100,000 | 30% | 43% |
| Median pay, all jobs4 | $48,640 | $61,430 |
| Federal locality pay area7 | Miami-Port St. Lucie-Fort Lauderdale, FL | New York-Newark, NY-NJ-CT-PA |
Rent areas: Miami-Miami Beach-Kendall, FL HUD Metro FMR Area and New York, NY HUD Metro FMR Area. Metro areas: Miami-Fort Lauderdale-West Palm Beach, FL and New York-Newark-Jersey City, NY-NJ.
What costs more or less
| Price level (U.S. = 100) | Miami | New York |
|---|---|---|
| Housing (rent) | 155.6 | 148.6 |
| Goods | 103.6 | 110.3 |
| Utilities | 97.2 | 127.0 |
| Other services | 109.1 | 105.8 |
| Overall | 114.2 | 112.6 |
Moving with the same $100,000 salary
Miami, FL → New York, NY
Roughly even
Buying power +1.4%; rent takes 43% of take-home; state tax +$4,860/yr.
46 Fair offer
New York, NY → Miami, FL
Roughly even
Buying power −1.4%; rent takes 30% of take-home; state tax −$4,860/yr.
57 Fair offer
On the GS pay scale?
Miami, FL is in the Miami-Port St. Lucie-Fort Lauderdale, FL pay area; New York, NY is in New York-Newark, NY-NJ-CT-PA. The last column shows what a transfer from Miami, FL to New York, NY at the same grade and step does to real buying power.
| Grade5,2 | Miami, FL | New York, NY | Real change, Miami → New York |
|---|---|---|---|
| GS-9 step 1 | $65,735 | $72,737 | +12.2% |
| GS-11 step 1 | $79,533 | $88,005 | +12.2% |
| GS-12 step 1 | $95,326 | $105,481 | +12.2% |
| GS-13 step 1 | $113,356 | $125,431 | +12.2% |
| GS-14 step 1 | $133,953 | $148,222 | +12.2% |
Pay for common jobs
| Median annual pay4 | Miami, FL | New York, NY | New York pay in Miami dollars |
|---|---|---|---|
| Elementary School Teachers, Except Special Education | $58,300 | $96,900 | $98,270 (+68.6%) |
| Software Developers | $132,650 | $166,830 | $169,190 (+27.5%) |
| Accountants and Auditors | $80,920 | $105,650 | $107,144 (+32.4%) |
| Registered Nurses | $91,380 | $119,720 | $121,413 (+32.9%) |
"Not published" means BLS doesn't release an estimate for that job in that metro.