All 12 Florida cities included in the analysis were considered unaffordable. The largest gaps were reported in Hialeah, where households would need 284.5% more income, and Miami, where they would need 273.2% more.<\/p>\n
Other Florida cities included:<\/p>\n
Fort Lauderdale: 113.7% more income neededSt. Petersburg: 112.1%Hollywood: 100.2%Pembroke Pines: 93.8%Tampa: 61.1%Orlando: 58.4%Port St. Lucie: 40.4%Tallahassee: 23.9%Jacksonville: 12.7%Cape Coral: 6%<\/p>\n
The outlook improves in the study\u2019s five-year projections. Orlando, Tampa, Jacksonville and three other Florida cities are expected to cross into affordability by 2031 as projected income growth outpaces rising housing costs.<\/p>\n
Researchers analyzed median home prices and household incomes in 174 of the nation\u2019s largest cities. They classified a market as affordable when annual mortgage and property tax costs did not exceed 30% of the median household income.<\/p>\n
The calculations assumed a 30-year fixed mortgage with a 6% interest rate and a 20% down payment. The analysis did not account for homeowners insurance, association fees or household debt.<\/p>\n
Nationally, the study found that the median home price has reached $390,300 and is projected to increase 35.1% to $527,525 by 2031.<\/p>\n
Only Louisiana, Minnesota and Iowa were considered affordable for the typical household in 2026. The analysis projects that 36 states will meet its affordability standard by 2031.<\/p>\n
Read the full housing affordability study here.<\/a><\/p>\n Click here<\/a> to download our free news, weather and smart TV apps. And click here<\/a> to stream Channel 9 Eyewitness News live.<\/p>\n