Miami Caps Certain Sales of City-Owned Properties at 120% of Area Median Income

Certain city-owned homes are set to be sold to buyers earning up to 120% of the area median income, according to a newly passed resolution by the Miami City Commission.

This will potentially widen access to homeownership for middle-income residents in one of the nation’s least affordable housing markets.

Area median income, or AMI, is a benchmark used to determine eligibility for many housing programs, based on the midpoint of household incomes in a given region. In Miami-Dade County, it helps define who qualifies for affordable and workforce housing.

The adopted resolution will allow households earning somewhat above the area’s median income—often considered middle-income or "workforce" earners—to qualify for certain city-owned homes.

In Miami-Dade County, 120% of AMI for a family of four is roughly $148,680, meaning households earning up to that amount can now qualify for certain city-owned homes.

The shift expands eligibility beyond lower-income households. It could make it easier for the city to sell these properties while helping more residents priced out of Miami’s housing market.

Properties affected by the change

For now, the resolution applies to a small group of city-owned properties, including homes at 1544 NW 58th Terrace, 1465 NW 60th St., 1755 NW 2nd Ave., and 411 NE 69th St.

In this case, the approved income cap adjustment is tied specifically to these individual properties, rather than a clearly defined citywide policy, though it remains unclear whether similar changes could be applied more broadly.

The measure builds on a previous city action, modifying eligibility rules established under a resolution that was adopted on Sept. 11, 2025. Rather than creating a new housing program, the approved proposal adjusts existing requirements—specifically by raising the income threshold for who can qualify to purchase certain city-owned homes.

Miami’s housing affordability crisis

Miami remains one of the least affordable housing markets in the United States. With Miami's median listing price at $630,000, new options for middle-income buyers are disappearing faster than in nearly any other major metro.

"The typical home in Miami is not affordable to the median-earning household," says Hannah Jones, senior economic research analyst at Realtor.com®.

"In February 2020, about 24% of available single-family inventory was priced below $350,000. In February 2026, the share of single-family homes priced below $350,000 was about 3.5%. Homes in the condo segment tend to be more affordable, providing an option for middle-income households, but the single-family market is largely out of reach."

Real estate agent and investor Ron Myers of Ron Buys Florida Homes agrees. "Miami is very tough for middle-income earners right now," he tells Realtor.com.

"If you have a regular job and you are not bringing in a very strong income, it is getting harder and harder to buy there," Myers says.

"It is not just the home price. It is also insurance, taxes, HOA fees, and the overall cost of living. Even people who can qualify on paper are finding out the monthly payment is just too much once all the real costs are added in."

Unclear policy direction

While policies like this aim to serve the missing middle, the move also raises questions about the city’s broader housing strategy.

Is Miami shifting focus from lower-income residents to middle-income buyers, or is this simply a one-off adjustment for specific properties? The resolution was taken up at Thursday's commission meeting, but the wider implications for city-owned home sales remain unclear pending further clarification from officials.

Realtor.com reached out to Commissioner Christine King for comment, but the resolution could signal a broader shift in city housing policy.