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Here's a study based off the 50-30-20 budgeting rule (50% of income for necessities, 30% discretionary, 20% saved), calculating a cost-of-living comparison on a national scale across the 75 most populous U.S. cities.
In researching living expenses that include rent, groceries, utilities, transportation, and healthcare, they found the yearly salary needed to "live comfortably" in Miami to be about $77,000, the sixth most in the country.
The results also showed Miami's median income of just under $31,000 is about $46,000 short of that number, representing "the biggest gap between actual and ideal incomes of any major city in this study."
Yikes.
- How Much Money You Need to Live Comfortably in the 50 Biggest Cities [GBR]
- The Income You Need to Live Comfortably in 50 U.S. Cities [Two Cents]
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