market · Jan 14, 2026 · updated Sep 12, 2026

Miami Residents Spend More on Housing Than Any Other Major Metro

Miami metro residents spend 40% of their expenditures on housing, the highest percentage among 22 major metropolitan areas, which may limit spending on retail and dining.

Housing Costs and Local Spending

Miami metro residents spend 40% of their expenditures on housing, according to Miami Today. This is the highest percentage among 22 major metropolitan areas, surpassing New York at 38.2% and Tampa at 37.8%.

Average households in the Miami metro area spend $25,610 annually on housing, or $2,134 per month, according to the same source. The average annual household spending in the Miami metropolitan statistical area was $64,027, which was the lowest average annual consumer expenditure among the 22 major metropolitan areas studied.

This high percentage of income dedicated to housing may limit local spending on retail and dining. Miami-area households spend 11.5% of expenditures on food, which is lower than the national average of 12.9%. Specifically, Miami households spend an average of $5,331 on food at home and $2,064 on eating out, according to Miami Today.

Impact on Brickell Condo Market

For condo owners and buyers in Brickell, the high cost of housing relative to income may influence the same local retail and dining options. The neighborhood currently has 940 active condo listings with a median asking price of $859,000 ($806/sq ft), according to Own Miami data as of August 26, 2026.

Several buildings in the area provide different price points. Metropolitan (2475 Brickell Ave) has 4 active listings from $600,000 with a median asking price of $599/sq ft. (2333 Brickell Ave) has 7 active listings from $560,000 and a median asking price of $602/sq ft. (2101 Brickell Ave) and (2127 Brickell Ave) both have active listings, with the median asking price at $605/sq ft and $1,142/sq ft, respectively, according to Own Miami data.

Higher-end options include (175 SE 25th Rd), which has 38 active listings from $2M with a median asking price of $2,054/sq ft, and (2200 Brickell Ave), which has 10 active listings from $830,000 with a median asking price of $1,403/sq ft, according to Own Miami data.

Other Expenditure Patterns

According to Miami Today, Miami residents spend 18% of their expenditures on transportation, averaging $11,540. They also spend 7% on healthcare and 3.5% on entertainment, and 11.8% ($7,563) on personal insurance and pensions.

Before taxes, the average household income in the Miami metro area for 2023-2024 was $89,053, according to the same source.

Sources

Miami Today — https://www.miamitodaynews.com/2026/01/14/we-cant-prosper-with-the-pattern-of-house-poor-miamians/

Frequently asked questions

What percentage of expenditures do Miami metro residents spend on housing?+

Miami metro residents spend 40% of their expenditures on housing. This is the highest percentage among 22 major metropolitan areas studied.

What is the average monthly and annual housing cost for households in the Miami metro area?+

Average households in the Miami metro area spend $25,610 annually on housing, which averages to $2,134 per month.

What is the median asking price for condos in the Brickell area?+

The Brickell neighborhood has a median asking price of $859,000, which equates to $806 per square foot.

What are the price points for specific condo buildings in the Brickell area?+

Prices vary by building, with some units starting at $560,000 and others starting at $2M. Median prices per square foot range from $599/sq ft to $2,054/sq ft depending on the specific property.

#Miami Market#Housing Costs#Brickell#Real Estate Trends#Consumer Spending