The median income in South Florida is $49,528. Homeowners pay 20.4 percent of their income on a monthly mortgage payment, and renters spend 43.9 percent.
Zillow breaks down how incomes and affordability match up in South Florida.
Miami-Fort Lauderdale metro highlights:
- The median income is $49,528.
- 20.4 percent of income is spent on a monthly mortgage payment, and 43.9 percent is spent on rent.
- A 20 percent down payment on a median-valued home in Miami-Fort Lauderdale would require a potential buyer to have saved $44,680.
- The ZHVI (Zillow Home Value Index) rose by 10.4 percent over the past year, to $223,400.