Here’s how much you need to earn to afford Coral Gables

by Joe Ward

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Trulia has crunched the numbers to determine the best neighborhoods for living well by ranking “universally loved” features like quiet streets, parks and proximity to schools and healthcare. Now, the online real estate giant had determined how much a homebuyer needs to live in those neighborhoods. Coral Gables (which Trulia incorrectly lists as a neighborhood within Miami) made the list, but buyers will need to have a well-paying job to afford to live there.

Described as a “magnet for those seeking the luxurious life since its founding in 1925,” Coral Gables has beautiful homes and public amenities to boot. Coral Gables made Trulia’s list because of its abundant gardens and recreational offerings. Homes in the area have a lot to offer, but buyers will have to fork over a lot to buy them, too.

That’s because the median home price in the area is $735,000, according to Trulia. To afford such a home and be able to live comfortably in the area, buyers need to make $193,466 a year.

That is certainly a lot of money. But there’s plenty of opportunity to make a good living in the area, however, as Coral Gables is home to over 140 multination corporations, according to Trulia.

For more information on Trulia’s best neighborhoods for living well, and the salaries required to live there, click here.

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