One of the central appeals of Miami as a destination city, apart from its culture and beaches, has been its persistent affordability, even through major growth. For the most part, the city still has that, a report from ATTOM, parent company of RealtyTrac, recently confirmed.
In its 2016 affordability index, in which a score of 100 equates to baseline affordable, all three of the Greater Miami counties analyzed were above the affordability threshold.
The most affordable was Palm Beach County, which had an index score of 111. However, further in its analysis, ATTOM determined the percentage of average local wages necessary to purchase a median-priced home in each county, and by that measure, Broward, with 33 percent of wages necessary to purchase, was the most affordable.
See the full analysis below:
| County | Affordable Index | Affordable by Index? | Pct of Wages to Buy | Affordable by Pct of Wages? |
|---|---|---|---|---|
| Miami-Dade | 113 | YES | 35.90% | YES |
| Broward | 108 | YES | 33% | YES |
| Palm Beach | 111 | YES | 33.70% | YES |
Affordable for all the millionaires from South America and other parts of the world. However the individuals who live and work in Miami cannot afford to buy a decent home in Miami. There should be laws and restrictions to protect the people who actually reside here and pay taxes!