"Manhattan and Miami have the most drastic differences in cost of living, according to the report. Costs are 138% higher than the US average in Manhattan, but only 23% higher than the average in Miami. That difference is heavily influenced by Florida’s lack of state income taxes: While people making $650,000 a year face an effective tax rate of 45% in New York, that drops to 35% in Miami."

Full article at: http://www.wealthmanagement.com/high-net-worth/leaving-new-york-miami-can-save-nearly-200000