The cost of living well in Miami.

Our verdict. Miami suits a family that wants American schools and a boat without a state income tax: Florida levies none, so the top rate is the federal 37%. Ransom Everglades charges $57,300 for Grade 12, lunch included, and an annual 20 m slip at Crandon Marina on Key Biscayne costs about $22,000. Its millionaire count has risen 94% in ten years. The drawback is that US taxation follows citizens wherever they live, and club golf is reported to cost about $1 million to join at La Gorce. Set against New York, a luxury home costs about a quarter less per square foot.

1. A prime family home, rented2026£91k

   US$120,912 a year · Average asking rent from Zumper listings, Key Biscayne: USD 4.68 per sq ft a month x 2,153 sq ft (200 m²) x 12

   Zumper, Key Biscayne, FL Rent Prices (rent research), October 2026

2. Senior school fees, two children2026-27£86k

   US$57,300 a year a child · Ransom Everglades School, grade 12 annual tuition (includes daily lunch)

   Ransom Everglades, Affording RE, 2026-27 academic year

3. Membership at a leading golf club—

   Published prices here date from 2024; ask us for a current figure.

4. A berth for a 20 m yacht2025£17k

   US$22,047 a year · Crandon Marina (Key Biscayne, Miami-Dade County), annual recreational wet slip, 60 ft and above, USD 28 per boat foot per month x 65.62 ft (20 m) x 12

   Miami-Dade Parks, Recreation and Open Spaces, Approved Fees (marinas), Effective 1 Oct 2025

5. A full-time housekeeper or nanny2026£36k

   US$47,840 a year · Care.com average posted nanny rate, Miami FL, USD 23.00/hr x 40 h x 52 weeks

   Care.com, Nannies in Miami, FL, October 2026

6. Tasting menu for two, twice a month2026£11k

   US$590 a dinner · L'Atelier de Joël Robuchon Miami (South Florida's only two-Michelin-star restaurant, per the restaurant), Evolution dégustation menu USD 295 pp x 2, food only

   L'Atelier de Joël Robuchon Miami, Evolution menu, Checked 20 Oct 2026

Figures are published prices, fees and surveys as dated, converted to pounds at the stated rates. They change, vary by home, school year and membership, and are a guide, not a quote. Nothing here is financial, tax or legal advice.

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Pounds at ECB reference rates (Gulf currencies at their dollar pegs) rates of 2026-10-20.