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These days, finding an affordable place to live in the Miami area can be challenging. Home prices in Miami are now at a median cost of $136,141, lower than the Arizona average of $421,436.
The average cost of rent is $911/mo in Miami, primarily driven by the current value of real estate in the Miami area. In Miami, 36.73% of households rent, and 66.35% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Miami is $4,047 per month. Households that rent pay about 22.51% of their income on rent here. Miami’s most expensive areas are in the southwestern regions, while the cheapest areas are in the eastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Claypool, AZ: less expensive homes
- Globe, AZ: higher priced homes
- Midland City, AZ: less expensive homes
- Top-of-the-World, AZ: higher priced homes
- Little Acres, AZ: equally priced homes
- Superior, AZ: higher priced homes
- Queen Valley, AZ: higher priced homes
- San Carlos, AZ: less expensive homes
- Peridot, AZ: less expensive homes
- Gold Canyon, AZ: higher priced homes
Cities with Similar Populations
- Westerlo, NY: higher priced homes
- Hazleton, IA: higher priced homes
- Hanscom Afb, MA: higher priced homes
- Halfway, MO: higher priced homes
- Tekonsha, MI: higher priced homes
- Tonka Bay, MN: higher priced homes
- Treynor, IA: higher priced homes
- Vandalia, MI: higher priced homes
- Villisca, IA: less expensive homes
- Wadley, AL: higher priced homes
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