Have you ever wondered how much you need to make in order to buy a home in Miami? Perhaps you’ve read it’s more affordable to own than rent in the city right now. Maybe you’ve read about surprising costs and fees rolled into that monthly mortgage payment. And as you’ve equipped yourself with the knowledge about what it takes to buy a home in general, you’re left wondering, well, what about in Miami? The Miami Herald has an answer.

Earlier this spring, the Herald published an article hinging on data from mortgage research site HSH.com. In short, prospective homebuyers looking to purchase in Miami-Dade should earn at least $80,000 annually if they’re planning on ponying up the traditional 20 percent down payment. For prospective homebuyers putting down 10 percent, the target annual salary climbs to $82,769.61. These salaries will get prospective homebuyers into a home valued at about $330,000, according to the Herald.

Typical gated community residence

Here’s the rub: the median income in Miami-Dade County is $51,800. That means singles might have a hard time getting funds together to purchase a home on their own. It also means unmarried couples might buy a house more quickly since their combined salary will take them farther. What’s more, even combined salaries don’t go as far in a desirable location like Miami. The median home price nationwide is $247,800. In Miami, it’s nearly $100,000 more, clocking in at $335,000. Of course, luxury properties and uber-rich areas like Fisher Island skew the median data in Miami.

Fortunately for Miamians, boosting that salary may be a reality. The Herald reported that the Federal Reserve Bank of Atlanta said the national salary had grown by 2.9 percent as of December 2017, an increase strong enough to keep pace with rising home prices. A separate WalletHub study placed Miami and Hialeah in Miami-Dade (as well as Pembroke Pines and Fort Lauderdale in Broward) on a 2018 list of the best places in the country to find a job.

For potential homebuyers looking in Miami-Dade, a trip to the suburbs might be just the ticket to homeownership. It’s not what you might conjure up in your head, either. Far from boring, cookie-cutter ‘hoods, many of Miami’s suburbs actually have great downtowns. Doral's aptly named Downtown Doral includes 70 different shops and restaurants to keep nights and weekends lively. Miami Lakes’ Main Street is charming with shady, brick-paved streets that evoke an era gone by. There’s also Dadeland, which not only boasts a Metrorail station at the southern portion of the line (easy commute!) but also offers lots of scenic parks and Downtown Dadeland, a commercial space with retail and restaurants.