Miami is now more expensive than New York City

Miami was once the Emerald City for New York professionals chasing more sun and cheaper costs. Lower taxes, cheaper real estate and year-round warmth made Florida feel like the dream destination for putting down roots. But now that shine is wearing off.  With insurance costs, private school tuition and restaurant spending all on the rise, Miami’s cost of living has surpassed that of New York, according to an annual price-comparison report published by the U.S. Bureau of Economic Analysis reported by Bloomberg. Figures released this month mark the first time on record that the Miami metropolitan area is more expensive […]

This article originally appeared on The Real Deal. Click here to read the full story.