Is Living in Miami Really More Expensive Than NYC? (Video)

In this 27 July 2026 published video, host Michael Bordenaro talks about how the raw prices are not higher than NYC, but data does show the cost of living index has technically surpassed New York’s due to soaring inflation, local car expenses, and massive spikes in insurance.
Manhattan’s median listing price per square foot was $1,489 in May 2026, which is more than three times higher than Miami-Dade County’s $465 per square foot. According to Bureau of Economic Analysis (BEA) data, Miami scored an index of 114.155 compared to NYC’s 112.563, meaning prices have climbed drastically relative to local incomes. South Florida’s consumer price index has jumped roughly 36 percent since 2019, outpacing inflation rates in most other major metropolitan areas.
Florida homeowners face average annual property insurance premiums near $8,300—roughly four times what residents typically pay in New York. Property tax bills in the Miami metro area have jumped 62 percent since 2019, which is more than double the national average. Car ownership and auto insurance in South Florida consume about 20% of household spending (averaging $14,400 a year), making it one of the priciest driving regions in the nation.
https://youtu.be/EaRaogY2Oo4
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