Live in Miami: Advantages, disadvantages and costs

Thinking about where to live in Miami? We break down the pros and cons, from quality of life and transport to healthcare and education.

We’ve put together a guide on key things to consider if you plan to live in this U.S. city. Still, before your trip, it’s a good idea to check the requirements for your nationality, as immigration policies can change at any time.

Quality of life in Miami

Miami ranks as one of the U.S.’s most vibrant cities and a favorite among immigrants, thanks to its lively lifestyle, diverse culture, career opportunities, and beautiful architecture. The city also offers strong education and healthcare options.

1. Quality public and private education

Education is by far one of Miami’s strengths, with renowned universities and high quality standards.

• Some public universities are: Florida International University (FIU) and Miami Dade College (MDC) both offer programs in fields like business, science, health, and engineering.
• In terms of costs: On average, attending these universities costs around $33,000 per year, including tuition, housing, and meals. Your actual expenses may vary depending on your lifestyle.
• The requirements for foreign students are: You’ll need a student visa, proof of financial means to cover tuition and other expenses, a strong academic record, a high level of English, and a high school diploma.
• Some universities may make specific requests such as a career goals essay or interview.

Private universities like the University of Miami and Barry University are among the most well-known in the city, offering strong programs in fields such as arts, architecture, journalism, and communications.

• High costs: Studying at a private university in Miami can cost you around $45,000 per year, including accommodation and food.
• Requirements: Getting a student visa requires being accepted by your chosen university, showing you can cover expenses, demonstrating strong English skills, and providing academic records. Sometimes, a recommendation from a teacher or employer is also needed.

2. Private healthcare system

Healthcare in Miami is largely managed by private providers, who handle patient care. Everyone is required to have health insurance to access medical services.

On average, health insurance can cost around $7,000 per person per year. Cheaper plans are available, but they usually offer more limited coverage across different specialties.

Without insurance, the cost of a single appointment with a general practitioner could be as high as $300, or $500 for a specialist.

To get private health insurance, you’ll typically need your passport to prove your nationality, proof of Miami residency, income documentation, a Social Security number, and an immigrant visa.

There’s also a public healthcare system, but it mainly serves vulnerable populations. To qualify, you need to meet certain requirements, such as your immigration status and proof of residence in the city.

3. Better jobs and salaries in Miami

Now we’ll show you which jobs pay the most and what the average salary is in Miami.

The average resident earns around $59,000 a year, or about $4,300 per month. While living comfortably in Miami is estimated to cost roughly $75,000 annually, it really depends on your lifestyle and how you manage your expenses.

According to the job search platform Indeep, some of the highest-paying positions in Miami include financial controllers, technology directors, plastic surgeons, and veterinarians.

For example, veterinarians can earn around $130,000 a year, while specialists in certain medical fields, like ophthalmology, can make up to $290,000 annually.

As a major tourist destination, Miami also values workers in the hospitality industry, especially those who are bilingual and experienced. Salaries in this field typically range from $85,000 to $120,000.

4. Transportation: Some options are free

Getting around Miami can be one of the easier parts of living here, thanks to a wide range of transportation options that are efficient, affordable, and convenient depending on the area you choose to live in.

• One of the most popular options is the Free Trolley Bus, which runs in a loop every 15 minutes. Since it’s free, these buses can get quite crowded, especially during peak tourist seasons.
• Another free transportation alternative is the Metromover, which is similar to a tram and runs every 3 minutes during peak hours and every 5 minutes during off-peak hours.
• The bus system, on the other hand, has a wider network covering mobility throughout the city and costs $2.25, although it is slower.
• In addition to the bus system, there’s an elevated train that costs the same as the bus. It runs along two lines covering north-south and south-north routes. Fares can be paid with a credit card or an Easy Ticket, which you can load with money.
• Private transportation platforms such as Uber and taxis are also available in this large city.
• Some companies rent bicycles with plans ranging from one hour for $7.50 to a monthly subscription ranging from $20 to $25.

5. Housing: Buying or Renting

Miami offers a variety of housing options, even for short-term stays. Let’s take a look at how easy it is to rent or buy a home in the city.

The costs of both renting and buying depend on the type of housing, location, and size of the place.

On average, renting in downtown Miami can cost around $2,500 per month, while nearby areas are generally more affordable, averaging about $1,800.

As for general rental requirements, you should be clear about your rights and responsibilities, especially as a foreigner.

With that in mind, the main requirements are a good credit history verified by a bank, a valid ID, and proof of your immigration status. Renting is generally a bit easier, both in terms of paperwork and finding a place.

Buying a home, on the other hand, can be more complicated, involving multiple steps like working with real estate agents, touring properties, and going through the full purchasing process.

Home prices in Miami typically range from $350,000 to $500,000, depending on the location. Properties on the waterfront or luxury homes can cost significantly more.

If you’re planning to buy a home in Miami, you’ll need to apply for an Individual Taxpayer Identification Number (ITIN). You’ll also need a valid passport, a U.S. bank account, and proof of financial stability.

6. High-speed mobile and fixed connectivity

In general, Miami has excellent internet connectivity, allowing you to stay connected anywhere, anytime.

Internet speeds in the city can reach up to 5,000 Mbps with providers like EarthLink, AT&T Fiber, and EIN, while others, such as Xfinity, offer speeds starting at 1,200 Mbps.

There are several mobile carriers, though coverage can vary. Providers like AT&T, T-Mobile, and Cricket Wireless offer download speeds of up to 188 Mbps.

A great way to stay connected is to get a Holafly eSIM, which offers monthly plans ranging from 25 GB to unlimited data.

Important: If you are a frequent traveler and want to stay connected without worrying about expensive roaming or looking for a new SIM at every destination, Holafly’s subscription plans are for you. With a single eSIM, enjoy internet in more than 170 countries for a fixed price and no surprises on your bill. Travel without limits and connect easily and securely! 🚀🌍

Advantages of living in Miami

There are many advantages to living in Miami, tied to the city’s high quality of life. These include job opportunities, its pleasant climate, and a vibrant multicultural atmosphere.

• Miami offers a good quality of life, with all the services and resources you need to thrive in the city.
• Factors such as employment are a significant advantage when moving there, as there are job opportunities in various healthcare and professional fields.
• Cultural diversity is great because you can meet people of all ages and different nationalities.
• The language can be English or Spanish, thanks to the large number of Latinos living in Miami.
• It should not be overlooked that Miami has beaches, parks, nature, and a vibrant nightlife and entertainment scene.

Disadvantages of living in Miami

The city has some disadvantages that you should keep in mind. Some of the most notable ones that could affect your stay there are:

• Living in Miami doesn’t come cheap, so you’ll need a steady income to comfortably manage essentials like rent, healthcare, education, getting around, and leisure.
• Healthcare is often seen as one of Miami’s biggest downsides, with high insurance costs and, at times, long wait times for care.
• Housing costs are high, so it might be better to rent, which is a little more affordable.
• Traffic is another drawback. While buses are a good option for getting around, Miami’s heavy congestion often makes travel slow.
• The weather can also be a drawback, as Miami is sometimes affected by hurricanes and flooding.

Frequently asked questions about living in Miami

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Paula Henderson

Spanish-English Translator

Hi! I'm a Spanish-English translator working with Holafly, helping bring travel content to life for curious travelers. As a digital nomad with a passion for exploring, I'm always adding new spots to my bucket list. If you love to travel like me, stick around because you're in the right place to find inspiration for your next trip! ✈️🌍

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