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These days, finding an affordable place to live in the Malta area can be challenging. Home prices in Malta are now at a median cost of $424,638, lower than the New York average of $610,895.
The average cost of rent is $1,828/mo in Malta, primarily driven by the current value of real estate in the Malta area. In Malta, 28.96% of households rent, and 29.53% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Malta is $10,686 per month. Households that rent pay about 17.10% of their income on rent here. Malta’s most expensive areas are in the northern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
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