In the end, buying a home all comes down to dollars and cents, and Miami’s qualifying incomes differ in interesting ways with the rest of the U.S.

To qualify for a mortgage on a 5 percent down payment, Miami homebuyers can expect a qualifying income of around $58,235, according to a new analysis by the National Association of Realtors; furthermore, qualifying incomes fall to $55,170 with 10 percent down and $49,040 with 20 percent down.

There are some interesting details in NAR’s data, including:

• Qualifying incomes were relatively high in Miami; for instance, they were considerably higher than Chicago, where a 5 percent down payment requires a qualifying income of $42,874.
• In an interesting sign of seasonality, qualifying incomes were lower in 2014’s fourth quarter (the basis for NAR’s analysis) than the third quarter; for instance, with a 20 percent down payment, qualifying incomes in Miami dropped from $50,574 to the present $49,040.

Check out our graph below for a fuller picture of the qualifying income landscape: