Florida keeps solidifying itself as the top choice for Latin families and investors. Indeed, they seek safety, stability, and a unique lifestyle. However, before taking the leap to move or invest, a key question arises. What is the true cost of living in Florida today?
You often find scattered info. On one hand, people highlight fiscal chances. For example, no state income tax exists here. On the other hand, housing and service prices adjust. The reality is simple. To “live well” in the Sunshine State, you need accurate data. This allows for smart financial planning.
In this guide, we will leave myths aside. Instead, we focus on concrete data. We analyze real numbers so you can evaluate budgets. Check if they align with life expectations in vibrant cities. Like Miami or Fort Lauderdale. We debunk the idea that it is unreachable. Plus, we offer a realistic view for your wealth. Here we discuss the quality of life in the United States.
Cost of living in Florida: Miami vs. Bogota, CDMX and Lima?
One frequent concern among clients is purchasing power comparison. When comparing the cost of living in Florida, specifically Miami, with that of capitals such as Bogota, Mexico City, or Lima, the nominal difference is clear. But the analysis must go beyond the tag price.
While Miami might be costlier in absolute terms. Income generation capacity and service quality balance the scale (Numbeo, 2025; La República, 2025; Directorio Cubano, 2025; Carcedo Team, 2024):
- First, purchasing power. Prices in Miami are higher than in Latin cities. Yet, the average salary is also considerably higher. What takes months of saving in Bogota. Like buying a new car or latest tech. In Florida, it represents a smaller fraction of annual income.
- Second, housing comparison. While exclusive zones in Lima (San Isidro) or CDMX (Polanco) have high costs. Investing in Miami allows access to strong currency assets. They have potential for appreciation and stability. This clearly exceeds local averages.
- Third, services and consumption. Personal services are costlier in the US. However, mass-market consumer products usually have competitive prices. Clothing and electronics are often cheaper, too.
So, it is crucial not to make a direct currency conversion. Doing so for daily expenses distorts perception. The key is adjusting income expectations in dollars. This is part of understanding the cost of living in Florida.
What salary do I need to live comfortably in Florida as a Chilean?
For a family coming from Chile, or any other country in the region, defining “comfortably” is subjective. But clear financial metrics exist to understand cost of living in Florida. A “living wage” covers basic expenses. It also covers savings and leisure without financial stress.
According to recent MIT studies, to live in counties like Miami-Dade without tightness, the suggested figures are (La República, 2025):
- Individual income. A single person needs to generate roughly $104,000 yearly. This maintains a comfortable lifestyle in metro areas. It assumes housing does not exceed 30 % of income.
- Also, family income. For a family of four people (two adults, two kids). The ideal combined income should sit between USD 120.000 and USD 140.000. This covers education, health, transport, and housing easily.
Still, the tax burden in Florida is lower than elsewhere. This leaves more gross salary available. You can use it for consumption or investment. For a Chilean professional, this matters. Even if nominal costs are high, savings capacity in dollars can be higher. You just need to manage fixed expenses well.
Cost of living in Florida: the cheapest cities in Florida
If your priority is optimizing the budget without losing perks, then there are options beyond big tourist centers. In fact, the cost of living in Florida varies drastically. Basically, it changes as you move from the southeast coast.
So, here we present some affordable alternatives:
- Kissimmee: first, it offers access to the same attractions. However, it has more competitive housing and service costs.
- Jacksonville: located northeast, it is a city with vast territory. Fortunately, you can find houses at attractive prices there. Especially when compared to South Florida.
- Gainesville: naturally, it comes with a moderate cost of living. Largely, its university atmosphere drives this factor.
- Cape Coral and Fort Myers: meanwhile, on the west coast, they offer relaxed lifestyles. They face the sea with real estate costs. Although they rose, still they remain more accessible than Miami.
- Homestead: additionally, it is located south of Miami. It offers wider and newer properties at lower prices. Therefore, it suits those seeking family tranquility.
- West Palm Beach and Boynton Beach: north of Miami. These zones combine an urban lifestyle. Moreover, they have more competitive housing costs than downtown Miami.
Choosing one of these cities can represent savings. It impacts total monthly expenses significantly.
How much is spent on food and basic services in Miami?
Current expenses define the daily health of our finances. In Miami, the cost of living in Florida regarding the basket. And public utilities have particularities. Every resident must know them.
A monthly estimate for two people in 2025 includes:
- Food: typically, a full monthly market can range between USD 500 and USD 700. Mainly, it depends on choosing premium brands. Or maybe wholesale chains.
- Electricity: indeed, it is a critical expense due to AC use. Especially in summer, the bill can hover around USD 150 – USD 200. However, it drops considerably in winter.
- Water, trash, and internet: generally, these services add an average of USD 110 – USD 160 monthly.
- Transport: although gas usually has reasonable prices, still, car insurance is an important budget item. Plus, you must add tolls (SunPass).
In short, basic expenses (excluding rent) regarding cost of living in Florida. For a couple, they can sit between USD 1.000 and USD 1.500. Everything depends on consumption levels (Numbeo, 2025).
Investment options and lifestyle in South Florida
It is a mistake to generalize the cost of living in Florida. Basing it only on tourist zones is wrong. Marked differences exist within South Florida itself. They offer opportunities for different profiles:
- Housing: while areas like Brickell or Miami Beach lead with premium prices. Expanding zones like Doral, Weston or Pembroke Pines offer value. They have planned communities ideal for families.
- Insurance: although premiums can vary. Having a modern property helps optimize this cost. Adequate protections (like impact windows) help too.
- Leisure: Miami offers a luxury nightlife. But it also has immense park offers. Public beaches and free family activities exist. They balance the entertainment budget.
Cost of living in Florida with PFS Realty Group
On the other hand, understanding numbers is just the first step. To settle successfully or invest smartly. And to understand cost of living in Florida. You need expert accompaniment. At PFS Realty Group we build a solid strategy. We leverage situations like recent rate drops.
Our value proposal covers everything you need under one roof:
- Buy, sell and rent properties. We guide you from selection to asset management at PFS Realty Group.
- Mortgage financing for foreigners. We have specialized subsidiaries like Avanti Lending to process your credit.
- Property management. Through Avanti Management, we strengthen your investment care. We ensure optimal rent levels.
- Vacation property management. With Avanti Stay, we maximize income potential. We focus on your vacation assets.
- Property insurance. We connect you with Mobile Assurance to protect your property.
- Accounting and legal services. Our experts provide necessary support. This ensures a solid investment through PFS Realty Group.
360° services of PFS Realty Group and cost of living in Florida
At PFS Realty Group and Avanti Lending, fundamentally, our mission is accompanying you. Indeed, we are there in every investment step. Starting from selecting the ideal property. Then, to obtaining the most suitable financing. Finally, until efficient administration and asset protection. We are committed to your success.
Moreover, our experience and integral focus give you peace of mind. Here, you count on a team of experts. We dedicate ourselves to maximizing your wealth value. Currently, we do this in the Florida real estate market.
Undoubtedly, Florida offers exceptional quality of life. It has legal security and unique economic chances. Even while cost of living in Florida has had adjustments. Still, it remains a competitive destination. This is true especially when considering fiscal benefits and appreciation.
So, the key to “living well” lies in planning and in making informed decisions. We invite you to learn about our management services. Visit us at PFS Realty. Let us provide personalized advice. Find options that fit your lifestyle. Receive comprehensive guidance to settle successfully in Florida.
References
- AS USA. (2021). ¿Dónde están las casas más baratas en Florida?
- Directorio Cubano. (2025). Así están los precios en Miami: Vistazo al costo de vida y cómo afecta a los residentes.
- La República. (2025). ¿Cuánto dinero necesito ganar para vivir en Miami-Dade? Este es el salario digno, según estudio del MIT.
- Numbeo. (2025). Costo de vida en Miami.
- Realtor.com España. (2025). ¿Es finalmente un mercado de compradores? Cómo saberlo y qué hacer al respecto.