Costs are rising in Miami. See the latest on rent, gas, businesses
The cost of living is on the minds of people in South Florida, with rising rent and gas prices.
Here’s a quick look at those and other business issues making headlines this week in Miami:
• Real IRS letter, not a scam: A Miami-area accountant initially suspected fraud when clients received IRS letters asking for bank account information, but the IRS confirmed the notices were legitimate. Accountant Marcell Hetenyi said 12 of his firm’s 700 clients received the “poorly written” letters and will get refunds of $50 to $120.
• Miami ranks worst for renters: Out of 182 U.S. cities surveyed by WalletHub, Miami came in last for rent affordability. The median monthly rent of $1,758 consumes 33.77% of the city’s median monthly income of $62,462..
• Gas prices surge past $4: South Florida gas prices jumped by double digits over four days, with Miami-Dade averaging $4.14 a gallon on April 30, a 15-cent increase since Monday. Fort Lauderdale hit $4.19 and West Palm Beach/Boca Raton reached $4.32.
• Miami a top spot for women entrepreneurs: The metro area ranked sixth nationally for woman-owned businesses, according to a CoworkingCafe study. Women-owned businesses make up 25% of the region’s total and employ 229,133 workers.
• Overtown grants available: The Overtown Small Business Grant Program offers an average of $5,000 to entrepreneurs in the Southeast Overtown/Park West Redevelopment area, funded by a $250,000 award from Miami commissioners in 2025.
• Celebrity chef opens boutique hotel: James Beard Award-winning chef Michelle Bernstein opened Casa Cañita at 1200 Ocean Dr. in Miami Beach, a 24-room hotel with rooms up to $320 per night, inspired by Cuba’s Golden Age and sugarcane culture.
This report was produced with the assistance of a proprietary tool powered by artificial intelligence and using our own originally reported, written and published content. It was reviewed and edited by our journalists.
This story was originally published April 30, 2026 at 1:59 PM.