Imagine you and your significant other, sippin’ café con leche on the porch of your dream home, watchin’ the sunset over the Miami skyline. You’ve been workin’ hard, savin’ up, and finally, you’re ready to make that homeownership dream a reality. But, as you start scrollin’ through listings, your heart sinks. The prices are sky-high, and your budget’s lookin’ like a tiny Speedo on South Beach – it just ain’t coverin’ it.

That’s the harsh reality for many families in Miami, where homeownership, a cornerstone of the American dream, is slippin’ outta reach. A new report by Creditnews Research paints a pretty bleak picture of the nation’s housing affordability crisis, and Miami’s gettin’ hit hard, yo!


Here’s how the top cities rank:

City Rank Number of neighborhoods Median married-couple household income % of unaffordable city for average family (2024)
Los Angeles 1 99 $117,056 100.00%
St. Louis 2 66 $132,973 100.00%
Boston 3 26 $172,223 100.00%
San Jose 4 25 $188,403 100.00%
San Diego 5 113 $136,297 95.58%
San Francisco 6 120 $211,885 89.17%
New York City 7 198 $118,019 85.90%
Miami 8 107 $96,581 79.44%


They ranked the top 50 US cities by neighborhood affordability for a typical married couple, and let’s just say the results are straight fire… in a bad way. Not only are many cities unaffordable, but it’s gotten way worse since COVID-19 hit.

Miami’s in the top eight for least affordable cities, with a whoppin’ 79.44% of neighborhoods bein’ outta reach for median-income fams. That’s a significant jump, and it’s partly ’cause of our post-pandemic population boom, bruh.

LA’s the worst, followed by St. Louis and Boston, where it’s straight up impossible for median-income couples to cop a home. But there’s hope, homies! Cities beyond the usual suspects like LA, NYC, and SF might have more affordable options.

This housing crisis is gettin’ outta hand, and we need solutions ASAP. Potential homebuyers are stuck between risin’ mortgage rates, sky-high house prices, and limited inventory. Owning a home shouldn’t be a pipe dream for millions of fams. We need to come together to make the housing market more equitable and accessible for all, ¡pronto!

Solutions on the Horizon:

  • Inclusionary Zoning: Encouragin’ developers to build more affordable units in exchange for density bonuses and other incentives.
  • Community Land Trusts: Non-profits that acquire and hold land for affordable housing, preventin’ gentrification and displacement.
  • Down Payment Assistance: Programs that help with closing costs and down payments, makin’ it easier for first-time buyers to get in the game.
  • Affordable Housing Bonds: Municipal bonds that fund affordable housing projects, creatin’ more options for low- and moderate-income families.
  • Rent Control and Stabilization: Policies that prevent sudden rent hikes and protect tenants from displacement.

These solutions are just the start, and we need to keep pushin’ for more innovative and effective ways to address the housing affordability crisis. We can do better, Miami! Let’s make homeownership a reality for all families, not just the privileged few.