Moving To Miami Is A Smart Move IF You Earn $150,000 Annually In New York City – Here’s How!

Making  $150,000 annually in New York City while moving to Miami and earning the same salary could save you roughly one-third of your income in total cost of living expenses and taxes.

Moving To Miami Is A Smart Move IF You Earn $150,000 Annually In New York City – Here’s How! (PHOTO: Yahoo Finance)

Moving To Miami? Here’s What You Need To Know!

Roughly 138 percent of the national average will cost you if you live in Manhattan while living in Miami costs just 23 percent more, according to the SmartAsset study found.

This study accounted for differences in housing, transportation, utilities, groceries, healthcare, and miscellaneous costs between the country’s largest cities.

Hence, if you earn $150,000 in New York you could save close to $49,000 of your total income after taxes and average cost if you are moving to Miami.

That is around 32 percent of income remaining over discretionary spending on things such as holidays or investments. Disposable income in New York was significantly lower, which could meaningfully impact the quality of life.

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Since 2022 Several Empire State Residents Have Been Moving To Miami

In 2022, nearly 65,000 Empire State residents (64,577) moved south to the Sunshine State, according to analysis of Florida Department of Highway Safety and Motor Vehicles data by the New York Post.

In the midst of national inflation headaches, moving to Miami, a less-taxed city makes significance. However, moving to different places isn’t the only way to save money.

There are still several ways you can reduce lifestyle expenses regardless of where you live.

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