Miami-Dade County, Florida
Income Data
At a Glance
How Miami-Dade County Compares
Detailed Income Statistics
Data Story
About Household Income in Miami-Dade County, Florida
Miami-Dade slightly below national median
Miami-Dade County's median household income of $68,694 falls $6,061 short of the national median of $74,755. Despite this gap, the county's diverse economy supports millions of residents across the nation's second-largest metropolitan area.
Slightly above Florida's average
At $68,694, Miami-Dade's median household income exceeds Florida's state average of $65,468 by $3,226. The county ranks in the middle tier statewide, reflecting its position as a major economic engine with mixed-income neighborhoods.
Outpaced by Broward, within reach of Palm Beach
Miami-Dade's $68,694 trails neighboring Broward County's higher-income suburbs but surpasses more rural inland counties. As the anchor of South Florida's tri-county region, Miami-Dade encompasses both affluent neighborhoods and working-class communities.
Housing costs strain budgets
Miami-Dade's rent-to-income ratio of 30.2% exceeds the recommended 28% threshold, signaling that housing consumes a large share of household earnings. With a median home value of $425,400, homeownership requires substantial income or savings for down payments.
Navigate high costs strategically
Miami-Dade residents should prioritize budgeting and emergency savings given housing pressures, but the county's strong job market enables wealth-building through side income and investments. Explore employer retirement plans and speak with advisors about affordability-conscious strategies.
Frequently Asked Questions
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Income Comparison Calculator
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County median: $68,694 per year
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vs. National Median
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Income Adequacy
Your monthly income ($5,725) vs. median rent ($1,731/mo). A ratio of 3.3x or higher means rent is under 30% of income.
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Compare RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.