With their latest “honor,” Miami residents aren’t sure whether to take a bow or politely decline.
New data from the U.S. Bureau of Economic Analysis (BEA) shows the cost of living in the Miami-Fort Lauderdale-West Palm Beach metro area has surpassed New York City, by roughly 5%, for the first time on record.
It does not mean every part of Miami is more expensive than every part of New York City. In fact, many neighborhoods in Manhattan still have much higher housing costs than most of South Florida…