How much does it cost to live comfortably in Miami? More than you think…

How much does it take for one family of four to live comfortably in Miami?

Well according to a study by Smart Asset, it’s more than $230,000.

That’s a lot of money and a sum that’s out of reach for many families, like the McCartney family.

“About $60, $70 thousand all together,” is what 58 year old Scott McCartney says he and his wife make to provide for themselves and their two youngest of five children.

Scott is a disabled veteran who served for 28 years and in 2012, retired and moved to Miami permanently. Through a food giveaway, he connected with United Way which connected his family to a myriad of services. Later, that same organization helped Scott in getting a job as an adjunct professor, teaching a DJ course he created.

Scott and his wife, who teaches organizations and schools about community gardening, make close to the median household income in Miami, which is just about $66,000.

“We do what everyone else is doing, which is making sure we’re cutting costs, saving, saving on our bills. Which means don’t leave the lights on. Do we really need to travel that far? And we really need to get on the Turnpike right now?” explains Scott.

His biggest costs, he says, include food. In a month, that cost could reach as high as $3,000.

“That’s the bill that breathes all the time. Sometimes it breathes big and sometimes it doesn’t as much. And gas of course now is, is a big, big part of it. But the food bill is the one. That is the one that really hurts because we’ve got a teenager boy that’s eating like a vacuum cleaner. But at the same time, we just need to make sure that we need to stay nutritious and we try not to eat processed foods as much,” Scott said. “We’ve even, now started to grow our own food in our backyard. So that’s been a big, big deal to try to grow our food, which obviously cuts into the cost.”

Another cost is toll fees. “Eight to 10 dollars a day, and that’s at the least. I know I’m being modest,” Scott said.

The Smart Asset study says homeowners should be following the 50-30-20 rule. The rule states that 50% of your income goes to needs, 30% to wants, and 20% to saving.

But for many like Scott, who make the median Miami income, that can be a difficult marker.

“I definitely do not think that that’s realistic because of all the bills that we have,” he said.

Which is why for Scott to live comfortably, his focus is on cutting costs,

“Saving is just as much as making,” he said. “If I can save 20% on my bill that’s, to me, is the same as making 20% more. And I would rather save.”

According to the study from Smart Asset though, to live comfortably in Miami, a family of four would have to make almost four times the median income. A single person would have to make almost double.

According to Miami-Dade Matters, while the income of the city of Miami has gone up in recent years, it is still far behind the county, state’s, and national median income level.

For Scott to be able to truly save and have wiggle room month-to-month, what would be his perfect sum?

“I think my perfect number would be like one $140-$150,000. I think that would be very, very comfortable,” he said.

And why that number specifically?

“Because what that would mean is that’s about $10 to $11,000 per month. And I know that the biggest component is food and transportation, and that would allow for the ebbs and flows of that. And of course, the cost of my children,” he said. “Like, I just got a call today and he has to have tooth surgery and, you know, I got insurance, but they’re like, insurance only covers $200 of it. I say your portion is $700 and something dollars. It seems those sorts of costs seem to pop up every month.”

For him, he doesn’t think more pay is the solution to hopefully achieving a more comfortable way of life, but instead lowering the cost of his necessities like food, gas and transportation.

And having more access to services that are there to help.

“I just feel like people need to put their pride aside and look for what’s out there to help them and their families move forward,” he said.

Some of the services available to families that are similar to the McCartney’s include:

Feeding South Florida: They have programs related to food distribution, senior programs and children’s programs. They also have neighborhood pantries, job placement, and workforce training.

United Way Miami: United Way Miami offers financial assistance, food or necessities through a multitude of services. They also serve veterans, families, those in the midst of a housing crisis, or are in need of mental health assistance.

Broward County Services: Broward County helps individuals “who need emergency rent, mortgage, or utility assistance due to experiencing an unexpected loss of income and can demonstrate their ability to maintain their household bills after receiving assistance.”

Miami-Dade County Services: Miami-Dade County offers a multitude of services including home repair assistance, student scholarships, child services, financial aid, and more.

Hope South Florida: Hope South Florida provides physical services (mobile showers, mail services), financial services and supportive services

Branches: Branches South Florida helps children, young adults and families with educational opportunities, and financial services.

City of Miami: The City of Miami helps individuals with financial assistance, mortgage assistance, rent assistance, utilities assistance, food assistance, and legal assistance.