Lively place that is charged with the energy of Caribbean waves, Miami is a marriage of city sophistication and alluring beaches. With world class shopping, restaurants that serve gastronomic seafood delights, a colorful arts scene, sports spectacles and loads of family attractions, Miami is considered of the nation’s most versatile metropolitan destinations.  Living in Miami indeed has so much to offer, not to mention the vibrant tropical weather.

If you are led to think that the only way to enjoy all these extraordinary benefits by living in Miami would cost a great deal of fortune, you are wrong. As a matter of fact, the cost of living in Miami is considerably cheaper than that of many other major cities such as New York, Boston, San Francisco, Chicago, and Seattle. In a data set presented by Homefair.com, which lists cities according to the amount of salary you need to make to achieve the same standard of living, Miami fairs well at $51,924 way below than for New York at $96,204. Those that rival the cost of living in Miami such as Atlanta, Seattle, Indianapolis and Phoenix, do not offer the vibrant weather, dynamic business centers, and scenic attractions that Miami does.

Furthermore, Miami’s sales tax is lower the national average. There is no state income tax and no local income tax in Miami—definitely a cost saver. A beautiful home in Miami will cost you less, as will property taxes, car insurance, and electricity. Living in Miami, you will even spend less time commuting than you would in other busy major cities. Overall, you will be spending less on things that aren’t fun if you are living in Miami. Thus, you will have more money and time to spend on things that are.