Chicago · Registered nurse · $98,500 · One adult, renting a 1-bedroomSaved on this device

Chicago · Registered nurse · $98,500 · One adult, renting a 1-bedroom

Miami, FL

Housing in Miami, FL: Rent, Home Prices & Property Tax

$2,073/mo (1 bd) in Miami. Median home $405,600. Property tax 0.97%.

Compare vs Chicago Rank metros from MiamiHow we figure this

Rent (1 bd): $2,073; /mo
Buy: $2,751; Mortgage, tax, insurance
Buying costs more: $678; /mo

State tax and rent

To buy

20% down payment$81,120
Mortgage at 6.5%$2,051
Property tax (0.97% of value)$328/mo · $3,934/yr
Insurance and upkeep$372
Monthly total$2,751

59.8% of renters spend 30% or more of income on rent. Census ACS 2023.

Months to 20% down

$1,696 left each month. About 48 months (4.0 years) to save $81,120.

Asking rent. Census median home price. 30-year fixed, 6.5%, 20% down. Not lending advice.

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