Is It Cheaper to Live in Los Angeles or Miami?
Housing is 34% cheaper in Miami on typical home value: $911,968 in Los Angeles against $602,196 in Miami. Typical rent is effectively the same in both: $2,738 in Los Angeles and $2,736 in Miami per month. The ranges overlap: Los Angeles runs $519,762 to $3,079,929 across its ZIPs and Miami runs $298,325 to $1,503,923, so the cheaper metro on the median still contains neighborhoods dearer than parts of the other.
Key stats
- Typical home value is 34% lower in Miami: $911,968 in Los Angeles against $602,196 in Miami.
- Typical rent is effectively the same in both: $2,738 in Los Angeles and $2,736 in Miami per month.
- The ranges overlap: Los Angeles runs $519,762 to $3,079,929 across its ZIPs and Miami runs $298,325 to $1,503,923, so the cheaper metro on the median still contains neighborhoods dearer than parts of the other.
- The income-needed indicator stands at $242,178 for Los Angeles and $141,320 for Miami, a difference of $100,857.
- Median ZIP home value
- $911,968 / $602,196
- Median ZIP rent
- $2,738 / $2,736
- Tracked ZIP markets
- 95 / 30
What housing costs in Los Angeles and Miami
Typical home value is 34% lower in Miami: $911,968 in Los Angeles against $602,196 in Miami.
Typical rent is effectively the same in both: $2,738 in Los Angeles and $2,736 in Miami per month.
Where the two metros actually overlap
The ranges overlap: Los Angeles runs $519,762 to $3,079,929 across its ZIPs and Miami runs $298,325 to $1,503,923, so the cheaper metro on the median still contains neighborhoods dearer than parts of the other.
A metro median decides nothing on its own: a move lands in one neighborhood, not in the average of all of them, and the ranges above are what a shortlist has to sit inside.
What this comparison does not include
This page compares housing only. Groceries, transport, state and local taxes, insurance, and childcare are not measured here and can move the total either way — in particular, the two metros may sit in states with very different income-tax treatment.
The income-needed indicator stands at $242,178 for Los Angeles and $141,320 for Miami, a difference of $100,857.
Continue your market research
- Los Angeles housing marketMetro overview and the full ZIP directory.
- Miami housing marketMetro overview and the full ZIP directory.
- Moving to Los Angeles: what housing costsThe same figures read from a mover’s side.
- Moving to Miami: what housing costsThe same figures read from a mover’s side.
Sources and method
- HomeMarketCap.com data sources: ZIP and metro housing-market datasets
- HomeMarketCap.com methodology: Metric definitions and calculation rules
Figures are updated monthly by the HomeMarketCap.com team under our editorial policy. Spotted something wrong? Report a correction.
What that costs per month in Los Angeles
Principal and interest on $911,968, the typical value of the median tracked ZIP. Taxes, insurance, and any association dues are not included.
$4,611 / monthprincipal and interest
An estimate for comparison between markets, not a quote or an offer of credit. Actual payments depend on the rate you are offered, the property, and the loan terms.
What that costs per month in Miami
Principal and interest on $602,196, the typical value of the median tracked ZIP. Taxes, insurance, and any association dues are not included.
$3,045 / monthprincipal and interest
An estimate for comparison between markets, not a quote or an offer of credit. Actual payments depend on the rate you are offered, the property, and the loan terms.