Residents that choose to move from Miami to a new home or workspace in the magic city often look at the best property rental or buying price, quality of life, and living conditions and costs. With a population of over 450k residents in Miami and rental costs increasing by roughly 12% in the last year, the average cost to rent a 1-bedroom apartment in Miami can reach just under $2000, while a 4-person family can expect the overall cost of living to hit slightly under $4k.