Markets & Economy

Zillow South Florida: Affordability Breakdown

Per Zillow, homeowners in South Florida pay less than half of what renters pay monthly

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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. ...