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Where can you afford to rent or buy in South Florida? This tool will show you
Dated: September 20 2019
Views: 600
Renting or buying in South Florida is notoriously expensive when compared with local wages. The Miami Herald’s interactive tool helps you identify ZIP codes with rentals or mortgages that match your budget.
Experts recommend you should pay, at most, three-and-a-half times your annual income on a home purchase. Our tool uses that calculation to determine which properties in each ZIP code meet that criteria. A $100,000 household income, for example, would make your maximum price $350,000 (not including down payments, interest, taxes or insurance).
Likewise, experts recommend that monthly rent be limited to 30 percent of pre-tax monthly household income. A $4,000 monthly income, for example, would put your ideal rent at $1,200.
The rental prices shown here are based on the median price of all available units within each ZIP code.
Because both rents and purchase prices are often related to school quality and crime, we have included that data as well.
Crime is measured against average crime throughout the U.S. The score of 100 is the average for all U.S. communities, urban and rural. The score of 105 is the average for the top 25 U.S. metros. The overall average for Miami-Dade is 129, or 24 percent greater than the average of the top U.S. metros. The overall average for Broward is 120.
https://www.miamiherald.com/news/local/community/miami-dade/article229998699.html
Sources: Zillow, Florida Department of Education, and Esri and Applied Geographic Solutions
*Crime rates are relative to national rates. An index of 100 represents average crime in the country. Values more or less than 100 implies percent differences in crime. Personal crime includes murder, rape, robbery and assault. Property crime includes burglary, larceny and motor vehicle theft.
Roberto Jacob Santos
Having the right real estate agent means having an agent who is committed to helping you buy or sell your home.....
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All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Updated on October 3, 2023 5:12 PM UTC
MIAMI ASSOCIATION OF REALTORS® All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested
Beaches MLS® All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
© 2023 Florida Gulf Coast MLS (FGCMLS) Information deemed reliable, but not guaranteed. The IDX data relating to real estate for sale on this web site comes in part from the Florida Gulf Coast Multiple Listing Service. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
