Assisted Living Communities in Miami, Florida

The average cost of assisted living in Miami is just over $100 less than the national average of $4,500, but it’s nearly $400 more a month than the state’s average of $4,000. Compared to nearby cities, Miami is on the higher end. In Naples, to the west of Miami, seniors pay nearly $1,000 more at $5,300 a month on average. To the north of the city in Port St. Lucie, the cost is much less at $3,763 a month, and in Sebring, it’s even less at $3,436 a month.

Assisted living residents in Miami, FL, have several options for paying for services, including state and federal financial assistance programs and personal savings. When planning for assisted living expenses, seniors should consider what programs they qualify for and the payment options their assisted living communities provide.  

• Medicaid: Florida’s Statewide Medicaid Managed Care Long-Term Care Program pays for many services assisted living residents receive, including personal care, housekeeping, and medication management. To qualify for this program, applicants must meet medical and financial criteria.
• Medicare: Medicare pays for medical costs, such as hospital stays, doctor’s office visits, and prescription drugs, as well as skilled nursing services in an assisted living facility, such as rehabilitative therapies and medication administration. While this federally funded health insurance plan doesn’t pay for assisted living, it can help seniors afford residential services by reducing their medical expenses.
• VA Benefits: The Department of Veterans Affairs’ Aid and Attendance program includes a cash benefit for qualified veterans, which they can use toward assisted living fees. Additionally, veterans may qualify for the Geriatrics and Extended Care program, which offers residential care services.
• Private payments: Private pay options, such as pension income, retirement savings, and long-term care insurance, apply to all assisted living costs, including room and board, personal care, and meals.

The costs of senior living in Miami vary depending on the type of care. Assisted living costs $2,375 per month. Independent living is slightly less expensive at $1,437, and at $6,172, memory care is the least affordable option. The amount of care offered, amenities provided and specialized services available all impact the costs of different types of care.

• Florida’s low taxes are one of the biggest perks of retiring in the state. Miami seniors don’t pay state income tax. Older adults are still responsible for federal income taxes, but the state’s lack of income tax significantly lessens their tax burden. This may help stretch retirement savings.
• Getting around town in Miami and Miami-Dade County is efficient, with a number of public transit options, most of which offer discounts to seniors. Miami-Dade Transit offers Metrobus, Metrorail and Metromover transportation services, as well as the accessible door-to-door Special Transit Service. Metrorail and Metrobus vehicles are even equipped with free Wi-Fi service.
• Though the overall cost of living in Miami is 23% higher than the national average and 21% higher than the state average, the low taxes and many community amenities help balance these higher costs. Seniors also pay lower-than-average costs for health care in Miami.
• Miami’s warm climate, with highs of 89 degrees in the summer and lows that are just 61 in the winter, is one of the reasons many people choose this Florida community for retirement. While it often rains, the weather is nearly always appropriate for a trip to the beach once the rain passes.
• Since 2018, Miami has been a member of the AARP Age-Friendly Communities network. Being a member means the city’s leadership has committed to working toward making Miami a great place for older adults to live. The city scores 54 out of 100 for its age-friendly policies, with high scores for housing, neighborhood and transportation.
• Quality medical care is found nearby for older adults living in Miami. It’s close to multiple hospitals that are high performing in senior care, including the Mount Sinai Medical Center, which is ranked among the top 50 in the nation for senior care.