Miami Springs, FL

Above Avg · 119

Florida · Population 13,606 · Updated March 2026

$1,333
Median Rent / Month
$88,705
Median Income
$504,000
Median Home Value
$1,447
Owner Costs / Month

Affordability

How far your income goes in Miami Springs

18.0%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Florida

State-level tax rates that affect your costs

0%
Income Tax (Top Rate)
6.0%
Sales Tax
0.86%
Property Tax Rate

Estimated Annual Costs

$15,996
Annual Rent
$0
State Income Tax
$4,334
Property Tax (est.)

Cost of Living Overview

Miami Springs is more expensive than the national average. Higher housing costs are typically the primary driver. With a cost index of 119 (where 100 equals the national median), Miami Springs residents can expect to pay median rent of $1,333/month while earning a median household income of $88,705/year.

The median home value in Miami Springs, FL is $504,000, with typical monthly owner costs around $1,447 including mortgage, insurance, and taxes. The median rent-to-income ratio of 18.0% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Florida has no state income tax, which can represent significant savings compared to high-tax states. Combined with a 6.0% sales tax rate and 0.86% effective property tax rate, the overall tax environment helps keep costs manageable in Miami Springs.

Frequently Asked Questions

Common questions about living costs in Miami Springs

What is the cost of living in Miami Springs, FL?
The cost of living index in Miami Springs, FL is 119 (US average = 100). Median monthly rent is $1,333, median household income is $88,705/year, and the median home value is $504,000.
Is Miami Springs, FL affordable?
No, Miami Springs is more expensive than the national average with a cost index of 119. The rent-to-income ratio is 18.0%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Miami Springs, FL?
The median gross rent in Miami Springs, FL is $1,333 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $15,996.
What is the median household income in Miami Springs?
The median household income in Miami Springs, FL is $88,705 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Florida?
Florida has a top income tax rate of 0%, a sales tax of 6.0%, and an effective property tax rate of 0.86%. Notably, there is no state income tax.