A new Realtor.com analysis is putting numbers to something a lot of Miami families already feel in their gut: buying a home right now can strain a household budget well past what financial experts consider healthy. The report found that the typical mortgage payment now eats up around 36% of a household’s income, a share that climbs even higher for first-time buyers who put down less than 20%. For context, most financial planners and lenders recommend keeping total housing costs to 28% of gross income, with 30% as an upper limit before a household is considered “cost burdened.”

That gap between 36% and 28-30% is not a rounding error. On a household earning $75,000 a year, the difference between the recommended threshold and today’s typical mortgage burden can mean hundreds of extra dollars leaving the budget every single month. And Miami is one of the metro areas where this squeeze is felt most acutely. Elevated home prices, high property insurance costs, and mortgage rates that remain well above pre-pandemic norms combine to make homeownership in South Florida particularly expensive relative to local incomes.

This is exactly why renting continues to make so much sense in Miami. Renting gives you a predictable, fixed monthly cost with no exposure to rising insurance premiums, surprise repair bills, property tax reassessments, or the risk of buying into a market at its most expensive point in years. Instead of stretching to hit 36% of your income to purchase, renting lets you stay within that healthier 28-30% range that experts recommend, freeing up income for the things that build financial security.

At Havana Enclave, that math works in your favor. The building’s monthly rents help Miami renters live well without blowing past recommended housing budgets, starting at $1,895 per month for studios, $1,995 for one-bedrooms, and $2,395 for two-bedrooms. For many households, that means comfortably hitting the 28-30% target that homeownership in today’s market often makes difficult, all while living in a well-located, brand-new Miami community without the long-term financial commitment or upfront costs of buying.

If you are weighing the rent-or-buy decision, take a hard look at your own numbers before you take on a mortgage payment that could push you well past that 30% ceiling. Havana Enclave offers a way to live in one of Miami’s most desirable areas while keeping your housing costs in a range that supports your broader financial goals.

Havana Enclave’s leasing is being led by The Oscar Arellano Team at Coldwell Banker Realty, with Oscar Arellano, Eyvis Mendoza, and Nelson Albareda heading the effort as exclusive leasing representatives for the project. To learn more or to schedule a visit, stop by our leasing office at 3485 W. Flagler St., Suite 100, open Monday through Friday from 10 a.m. to 6 p.m., Saturday from 11 a.m. to 5 p.m. and Sunday by appointment-only in the hours of operation. You can also reach the leasing team at (305) 802-2266 or visit havanaenclave.com.

Developer The Astor Companies continues to make incredible progress on the construction of Havana Enclave as it moves closer to its expected completion in the first quarter of 2027. Havana Enclave reflects Astor’s commitment to meet Miami’s housing needs and help the city it calls home reach its full potential.

Havana Enclave General Contractor BDI Construction prepped the lobby and offices for floor tile installation, while hallway tile installation is underway by the seventh-floor elevators. This follows the successful installation of the water main connection to the City of Miami on the east side of the building.

Astor and the Havana Enclave team look forward to officially opening the building in the first quarter of 2027! For more information about the project, visit blog.HavanaEnclave.com or email Info@HavanaEnclave.com.