Cost of Living: Miami, FL vs Elizabeth, NJ (2026)

Miami

Florida
129
VS

Elizabeth

New Jersey
112

Miami is 15% more expensive than Elizabeth.

$1,657/mo ↑ 13%
Median Rent
$1,463/mo ↓ 12%
$59,390/yr ↓ 7%
Median Income
$63,874/yr ↑ 8%
$475,200 ↑ 21%
Home Value
$393,500 ↓ 17%
$1,666/mo ↑ 8%
Owner Costs
$1,543/mo ↓ 7%
446,663
Population
135,887

Tax Comparison

0%
Income Tax
10.75%
6.0%
State Sales Tax
6.625%
0.86%
Property Tax
2.23%

Affordability

33.5%
rent-to-income
Affordability
27.5%
rent-to-income

Detailed Comparison

When comparing Miami, FL and Elizabeth, NJ, the overall cost of living indices are 129 and 112 respectively (national median = 100). Rent is $194/month cheaper in Elizabeth, saving renters about $2,328/year.

Median household income is $4,484/year higher in Elizabeth. Home values also differ significantly — the median in Miami is $475,200 compared to $393,500 in Elizabeth.

Florida has no state income tax, giving Miami residents a significant tax advantage over New Jersey's 10.75% rate.

Frequently Asked Questions

Miami vs Elizabeth — common questions

Is Miami or Elizabeth cheaper to live in?
Based on our cost index, Elizabeth is cheaper to live in with an index of 112 compared to 129 (US average = 100).
What is the rent difference between Miami and Elizabeth?
Median rent in Miami is $1,657/month and in Elizabeth it's $1,463/month — a difference of $194/month.
Which city has higher income, Miami or Elizabeth?
Median household income is $59,390 in Miami and $63,874 in Elizabeth. Median household income is $4,484/year higher in Elizabeth.
How do taxes compare between Florida and New Jersey?
Florida has 0% income tax, 6.0% sales tax, and 0.86% property tax. New Jersey has 10.75% income tax, 6.625% sales tax, and 2.23% property tax.
Should I move to Miami or Elizabeth?
It depends on your priorities. Miami has a cost index of 129 with median rent of $1,657/mo, while Elizabeth has a cost index of 112 with rent of $1,463/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Miami details → View Elizabeth details →

More Comparisons

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Miami vs. Virginia Beach Miami vs. Oakland Miami vs. Long Beach Miami vs. Minneapolis Miami vs. Raleigh Miami vs. Tulsa Elizabeth vs. Victorville Elizabeth vs. Stamford Elizabeth vs. Miramar Elizabeth vs. Kent Elizabeth vs. Pasadena Elizabeth vs. Midland