A new report shows that in order to purchase a home in Florida, a household income way above the Miami-Dade County Area Median Income (AMI) is needed. This is yet another reason why renting is your best choice in the Magic City these days. 

An analysis by Realtor.com determined that a family of four would need to earn a minimum household income of $125,000 to be able to afford homeownership in Florida. This was part of a state-by-state affordability study conducted by the publication’s economists to get a sense of the true cost of owning a home large enough to accommodate two adults and two kids.  

“Amid growing economic uncertainty, the American dream of homeownership might seem nearly impossible to achieve,” the article states. 

This report is especially sobering in Miami-Dade County, where the AMI was $79,400 in 2024. That is more than $45,000 below the Realtor.com study’s minimum household income needed to buy a home in Florida. And considering the demand for housing in Miami, the affordability gap here is likely a lot wider than the statewide figure. 

The affordability challenges make a brand-new rental building like Douglas Enclave in Miami’s Little Havana neighborhood even more desirable. Douglas Enclave is an ideal option for those priced out of residential ownership. 

Douglas Enclave is an 11-story, 199-unit building with brand-new Little Havana apartments available for rent. It includes a thoughtful mix of studio apartments, one-bedrooms, two-bedrooms and townhomes for rent. Individual apartments feature vinyl-wood flooring, open-concept kitchens, stackable washer/dryer units and efficient appliances. 

Building amenities include a club lounge, fitness center, electric vehicle charging stations, bike racks, gated parking garage, dog washing station, saline pool, business center with computer stations and a package delivery room. Douglas Enclave is extremely transit-friendly and located next to a Coral Gables Trolley stop. 

Little Havana is one of Miami’s most popular neighborhoods to live in because of its convenient location, rich history, culture and many things to do. The neighborhood is perfectly positioned near the world-class shopping and dining of downtown Coral Gables, and a short drive from Miami’s bustling Brickell financial district. 

For more information about Douglas Enclave, call (786) 610-4811 or visit the leasing office located at 61 NW 37 Ave. between 9:30 a.m. and 5:30 p.m. from Monday to Friday. Douglas Enclave is part of Miami-Dade County’s Workforce Housing Program – contact the leasing team for more details and qualification requirements.