New report indicates it’s now pricier to live in Miami than New York City

MIAMI — For decades now, New Yorkers have fled to South Florida, not just for the sunshine but for other perks like spacious homes and no state income tax.

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More recently though, Bloomberg’s latest dive into the topic cites research claiming for the first time on record, the Miami area is pricier than the Big Apple, saying South Florida’s consumer price index has jumped 36% since 2019.

“Cost of living is going up everywhere and the New Yorkers are coming down here, so I guess it is what it is,” said South Florida resident Robert Nordling. “The cost of living, the cost of anything from sandwiches to gas, it’s up one day, down the next.

It’s hard not to notice that many things are more expensive now than in 2019, no matter where you live.

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“And it’s only gonna keep climbing from here,” said Miami resident Mario Torres.

The Bloomberg piece goes on to say Miami’s private-school tuition, insurance costs and how much people are spending at restaurants are higher now than they were a year ago.

So what does all of this mean? Will people start choosing New York over Miami?

“Always an appeal here, everybody wants to be in Miami,” said Nordling. “New York and Miami. I guess they’re dancing together now.”

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