Cost of Living: Miami, FL vs Lakewood, CO (2026)

Miami

Florida
129
VS

Lakewood

Colorado
141

Miami is 9% cheaper than Lakewood.

$1,657/mo ↓ 5%
Median Rent
$1,746/mo ↑ 5%
$59,390/yr ↓ 31%
Median Income
$85,789/yr ↑ 44%
$475,200 ↓ 13%
Home Value
$548,200 ↑ 15%
$1,666/mo ↓ 4%
Owner Costs
$1,729/mo ↑ 4%
446,663
Population
156,309

Tax Comparison

0%
Income Tax
4.4%
6.0%
State Sales Tax
2.9%
0.86%
Property Tax
0.51%

Affordability

33.5%
rent-to-income
Affordability
24.4%
rent-to-income

Detailed Comparison

When comparing Miami, FL and Lakewood, CO, the overall cost of living indices are 129 and 141 respectively (national median = 100). Rent is $89/month cheaper in Miami, saving renters about $1,068/year.

Median household income is $26,399/year higher in Lakewood. Home values also differ significantly — the median in Miami is $475,200 compared to $548,200 in Lakewood.

Florida has no state income tax, giving Miami residents a significant tax advantage over Colorado's 4.4% rate.

Frequently Asked Questions

Miami vs Lakewood — common questions

Is Miami or Lakewood cheaper to live in?
Based on our cost index, Miami is cheaper to live in with an index of 129 compared to 141 (US average = 100).
What is the rent difference between Miami and Lakewood?
Median rent in Miami is $1,657/month and in Lakewood it's $1,746/month — a difference of $89/month.
Which city has higher income, Miami or Lakewood?
Median household income is $59,390 in Miami and $85,789 in Lakewood. Median household income is $26,399/year higher in Lakewood.
How do taxes compare between Florida and Colorado?
Florida has 0% income tax, 6.0% sales tax, and 0.86% property tax. Colorado has 4.4% income tax, 2.9% sales tax, and 0.51% property tax.
Should I move to Miami or Lakewood?
It depends on your priorities. Miami has a cost index of 129 with median rent of $1,657/mo, while Lakewood has a cost index of 141 with rent of $1,746/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Miami details → View Lakewood details →

More Comparisons

Other cost of living comparisons for Miami and Lakewood

Miami vs. Virginia Beach Miami vs. Oakland Miami vs. Long Beach Miami vs. Minneapolis Miami vs. Raleigh Miami vs. Tulsa Lakewood vs. Macon Lakewood vs. Killeen Lakewood vs. Alexandria Lakewood vs. Kansas City Lakewood vs. Murfreesboro Lakewood vs. Springfield