Cost of living in Miami: how much do you have to pay per month?
This article originally appeared on Actualidad Cuba
Author: Rafael E. Escobar
Did you know that Miami is one of the most expensive cities in Florida to live in? This is revealed by a recent study by Doxo, a company that offers bill payment services.
The study, reviewed by Diario de las Américas , analyzed the ten most common household bills that American families pay and compared them between different cities and states.
The results show that Miami ranks ninth among Florida cities with the highest bills, averaging $2,667 per month. This means Miamians spend 30.3% more than the national average, which is $2,046, and 26.2% more than the state average, which is $2,112.
Where does the money of Miami residents go? Well, mainly in housing, whether mortgage or rent, which represents the largest monthly expense. According to the study, an average family in Miami pays $1,929 for the mortgage or $1,516 for rent each month. In addition, we must add the costs of basic services such as electricity, water and electricity, which amount to $372 per month.
But housing is not the only important expense. Miamians also have to pay for car loans, health and auto insurance, cable and internet services, cell phones, and alarms and security. All of this adds up to a total of $32,000 annually in household bills.
COST OF LIVING IN MIAMI
The study does not include some expenses that are very relevant in Florida, such as homeowners insurance and property taxes, which are usually very high in this state.
According to other sources, Floridians pay about $4,231 a year for homeowners insurance and about $3,000 a year for property taxes. If these expenses are added, the cost of living in Miami would be even higher.
What other Florida cities have high bills? According to the study, the most expensive city is Pembroke Pines, where people pay an average of $3,035 a month on household bills. The cheapest city is Montecello, near Tallahassee, where you pay just $1,346 a month.
As for Miami-Dade County, household bills are $6,586 higher per year than the national average. This means that living in this county implies a great financial effort for many families.