The Raise Needed To Afford a Home in Florida’s Most Popular Metros

If you make the median income in Florida’s top four cities, you are going to need a raise of at least $19,000 — and over $50,000 if you live in Miami — in order to afford a down payment for a home.

A recent Zillow study determined the raise needed to afford a mortgage in the nation’s most popular metropolitan areas. That included Florida’s top four: Miami, Tampa, Orlando and Jacksonville.

Take a look at the raise needed to afford a home in Florida’s most popular metros. 

• Raise needed to afford a typical mortgage payment (20% down): $59,379
• Typical home value: $482,204
• Typical mortgage payment: $2,519
• Median income: $81,901

• Raise needed to afford a typical mortgage payment (20% down): $27,198
• Typical home value: $368,374
• Typical mortgage payment: $1,924
• Median income: $77,567

• Raise needed to afford a typical mortgage payment (20% down): $26,497
• Typical home value: $393,884
• Typical mortgage payment: $2,058
• Median income: $83,211

• Raise needed to afford a typical mortgage payment (20% down): $19,202
• Typical home value: $357,233
• Typical mortgage payment: $1,866
• Median income: $80,999