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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 $166,366, lower than the Indiana average of $232,932.
The average cost of rent is $633/mo in Miami, primarily driven by the current value of real estate in the Miami area. In Miami, 21.35% of households rent, and 59.68% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Miami is $6,392 per month. Households that rent pay about 9.90% of their income on rent here. Miami’s most expensive areas are in the northern regions, while the cheapest areas are in the southern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Bunker Hill, IN: less expensive homes
- Cassville, IN: equally priced homes
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- Lincoln, IN: equally priced homes
- Galveston, IN: equally priced homes
- Nead, IN: higher priced homes
- Onward, IN: equally priced homes
- Santa Fe, IN: higher priced homes
- North Grove, IN: higher priced homes
Cities with Similar Populations
- Roseville, AR: less expensive homes
- Neuse Forest, NC: higher priced homes
- Neutral, KS: less expensive homes
- Neuville, TX: less expensive homes
- New Buena Vista, PA: equally priced homes
- New Elizabethtown, IN: higher priced homes
- New Harmony, MO: equally priced homes
- New Harmony, TN: less expensive homes
- New Lebanon, IL: higher priced homes
- Newby, KY: less expensive homes
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