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Sooooooooo true........Miami is not for everyone. It is not Utopia, it has problems just like any other city. I choose to make the most of the positive aspects that the city has to offer and not dwell on the negatives............People that don't do this will be miserable where ever they live...........;-)
I too make the best of living in Miami for now. What I feel definitely helps me is the fact that I get out Miami from time to time especially in the summers. I am in NC right now and will be here for most of the summer. I really like it here. Cost of living is overall less than Miami but so are the salaries in general. Yet, one could live much more comfortable say on $75-100 k a year for a couple with maybe 1 kid in Raleigh as opposed to Miami. Like many posters above mentioned, it's a matter of lifestyle. I know folks that make over $100k a year in Miami and seem to be getting by. While there are couples that make a combine $50-60K a year and seem ok, but do without going to fancy restaurants and pricey cars. So basically it depends on the individuals, what they value, and there lifestyle.
Can any Mia resident & worker fill the following list...of MONTHLY expenses per COUPLE,2 small kids...
Mortgage/rent,for a NEW SFH,2500sqft,with a pool,on a 6000 sqft lot. Location?
Anywhere apart from ghettos... Say PRICE 350K
State property tax/HOA
Deposit for emergencies for home
monthly instalment,NEW Toyota Camry or Honda Accord,0 down,48 mo
All car expenses,gas,repairs,parking,emergencies.
We calculate 2 cars per couple...
You can live comfortably if you are married and even with a kid or two on 100K a year. Will 75K cut it ? yes....but not as comfortable. You will have to settle for a townhouse or condo. But in reality, this is a very difficult question to answer because people's opnions on what is comfortable vary widely. A good example....my ex-wife....a spoiled rotten girl that went to Gulliver Prep, lived in a 3.5 million dollar Coral Gables mansion and had everything handed to her. She married me and thought money grew on trees...she wanted it all. A good example about her mindset is this : While we were dating, we went for a night out in CocoWalk in the Grove.....I drived around for 15 minutes looking for a metered parking spot since I didn't want to pay 10 dollars for a garage spot. let me tell you, I will NEVER forget the look on her face...she was beat red....embarrased and very very angry. We finally got a metered spot, and I will never forget that she was angry the rest of the night because I made her walk a block or two as opposed to garage parking.
My current wife : came here with nothing..worked hard to get where she is at today. Enjoys life to the fullest ! Carefree, happy and realizes that everything she has today can be taken from her in a heartbeat. She has made ME realize that life is about the journey...not the destination. So she is happy with everything. When we got married, she didn't want a ridiculous expensive wedding. So you know what we did ? We had a civil ceremony at the court house and that was it ! My ex-wife ? 60K wedding at the Colonade in Coral Gables.
I am getting off topic, but comfortable means a whole lot of different things depending on who you ask. Comfortable for me means having a tiny car payment, and having the other car paid off. Comfortable for me means living in a modest sized house with a large lot where there is some privacy. Comfortable to me means being able to eat out whenever I want with my wife...wether it be Houston's, Chipotle or a feast at China Grill. comfortable for me does NOT mean a BMW or a Mercedes or some other high-end car that your merely paying for the name. comfortable for me doesn't mean a big 3,000 square foot home with waterfall free formation pool and hot tub. Comfortable to me doesn't mean sending my kids to private school (one of the reasons I moved to west Davie and it's excellent public schools) So there you go...what is comfortable ? That is only something you can answer sir.
my mortgage payment is 1,950 a month and that includes insurance. I have two cars...one I make 450/month payments on....the other one is paid off. We have one 4 month old going on 5 months. I work two jobs because my wife is a stay at home mom. that is the sacrifice I am willing to make.
AWESOME!! Good for you and your wife! comfortable to me is having a car with AC and enjoying the simple things this place has to offer such as ocean waves and palm trees!
I've seen time and time again here people say Miami is so expensive and you need to make mega-bucks to live here.
In your opinion, what is a salary where you could live a comfortable life?
What are your expenses that make Miami so unaffordable?
If you don't mind sharing, how about what you actually pay for car insurance, mortgage payment, homeowners insurance, taxes, etc. and how many people are in your family.
Please get as specific/share as much detail as you feel comfortable.
If you are single, you need to make at least 3,000 per month.
A car is a MUST is Miami, that's a $400 monthly expense (200 gas, 100 insurance, 100 car payment)
MIA housing costs are high, only NYC, Honolulu, and California have higher housing costs. But there is one thing that makes a difference, you dont need a car in NYC or LA, San Francisco, in Honolulu a gas expense is affordable because the distances are short, so if you compare the most expensive cities + transportation expenses, Miami would be the most expensive city in the U.S.; and MIA jobs are low paid because the economy is mainly based on tourism. So if you want to have a decent life in MIA, you must make at least $3,000 Per month. Your best chances are: the county (police, firefighters, Administrative positions), FPL, Carnival, Bellsouth, world fuel services, or the baptist hospital. There is only 1 fortune 500 company in Miami: World Fuel Services. The rest are restaurants, malls, banks (horrible salaries... Poor bank tellers), and small businesses.
A single person needs a 2x minimum wage job to survive in MIA. $14.5 Per Hour or get 2 jobs and work 50-60 hours per week.
1 bed apt= $900
cell phone= $55 (metro pcs unlimited calls)
entertainment= $200 (beach, clubs, movies, etc)
medical insurance: $150
Etc etc.... you need 3,000/ month. Unless you share your housing costs with roomates, etc.
From personal expeience, I will tell you straight up that Miami is NOT a place you want to find yourself in if s**t happens. When I say s**t happens, I a
referring to the following examples:
- You get sick
- Your pet gets sick
- Your car breaks down
- You find yourself out of work and aren't a part of the greater clique and aren't bilingual
- You become a victim of crime
Why? Because many businesses and individuals in Miami prey on the above, even more so than other parts of the US. Also, while Miami may be a great place for the wealthy, it is not a place I'd recommend if you're poor or even middle class, because (to put it bluntly), there 'aint much to do for free and it's a tough place to live, unless you can afford to buy yourself a degree of isolation from the people who make Miami a pretty awful place to live and work.
LOL, BQ12345, I have been here less than 2 months...........already been to the vet twice, found a fantastic vet less than 1/2 mile from where I live in Brickell, also found a dog groomer less than a mile. I've had the car serviced from a great mechanic named Mario......
I do have to ask............what place would be fun to live if your poor???? I don't think it would be very fun to live anywhere if I were poor...........
~50k enough for an "unburdened" couple, $75k with kid
Married with spouse in beauty school and not working. In order of expense:
1 br: ~$1000 including water
groceries: ~$500 (oriental groceries are not cheap)
car insurance: $250 (full coverage, damaged credit. In Utah, paid ~$400 for SIX months!!)
household/personal supplies: $200-250.
gas: $100-150 (commute is 22 miles 1-way...yet insurance is more than gas!!!!!!)
tolls: ~$30 (mostly 95 express lanes)
Note: Car paid up, but debt payments on credit cards/student loan add up to ~$300. Actually pay closer to $600. No cable. Clubs only rarely.
All in all, I make ~$50k, we see $3400/month after tax/insurance. We get by and save ~$100 per month and pay down debt but still struggle when things like car repairs and dental work and vet bills (even with insurance!) come up. And If I needed a replacement ride anytime soon, I'd be in deep ****. Because of this, I'd say financially we're still not comfortable.
Without the damaged credit and the debt, we would probably be comfortable with $50k, but that's our fault, not South Florida's fault!
What *could* be sacrificed:
Rent: $850 is possible with same commute, but I "need" laundry in the apartment Groceries: probably could be closer to $400 without asian goodies and shrimp. Cell: could give up. Clothes/shoes: talk to her, not me... The couple hundred that's not accounted for above could be hunted down and eliminated.
But I would estimate at least ~$75k and pay down credit cards to zero to be able to buy a condo or townhome and have a kid (and probably need a second car or move to a more expensive area and manage with one car) and still be financially comfortable. Hopefully when she gets out of school next year.
What would you like to see for free that other cities offer but Miami does not?
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