Miami ranked 2nd most expensive city for housing

by Timothy Inklebarger

Miami has been ranked the second least affordable city in the country to own a home, according to an analysis by RealtyHop, which reviewed the 100 most populous cities in the country to determine their affordability.

Miami median home prices increased to $524,000, compared to $519,000 from the previous month.

“Resident families in Miami should expect to pay an average of $2,556 per month in mortgage and tax costs in order to own a home, equating to 90.23% of total household income annually,” the report noted.

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