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Miami catching up to NY for title of most expensive housing market

Location
New York, Miami
Publish Date
2021/10/04

A household in Miami should expect to pay $2,653.mo toward homeownership costs, or ~81.6% of median income, according to the October index. NYC is still the least affordable, the avg household in NY has to spend 82.2% of their income on homeownership costs. But Miami overtook LA, which ranked second in the September report, the city’s homeownership burden was 81.2%. In Miami, the median home listing was $549K and the household median income was $39K. Still, it narrowly overtook LA, where the median home listing price was $915K, median income was $62K. NY’s median home listing was $958K, and its median household income was $64K, ↓ $9K MoM.

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