Housing and Housing Statistics in Miami, FL
Housing is often the largest expense we face each month. The average monthly home ownership costs for owners with a mortgage in Miami is $1,828, which is higher than the nation as a whole. The average monthly rent in Miami is $958, which is higher than the U.S. Approximately 48,273 housing units are owner-occupied. About 42.2% of owners and 33.2% of renters pay less than 30% of their income toward housing expenses, a measure of affordability. Owners make up 25.6% of housing units. 55.3% of the housing units are occupied by renters. 88.1% of homes in Miami were built after 1990. 23.4% of all housing units in Miami have three bedrooms or more.
Own their own homes48,273
Median home price$211,400
Median monthly mortgage$1,828