The term “affordability” is thrown around quite a bit, but when it concerns the middle class, the scenario is all the more interesting.

Creative Commons: Marc Averette, http://commons.wikimedia.org/wiki/File:Miami_skyline.jpg.

Miami is the tenth least affordable metro areas in the nation, with 41 percent of the area’s housing stock affordable to the middle class, according to a detailed new report from Trulia.

It’s the flip-side to Miami’s soaring housing market – though home prices are up 8.7 percent year-over-year in the third quarter alone, that has also impacted affordability; according to Trulia’s metrics, the percentage of affordable homes to the middle class fell from 51 percent in Oct. 2013 to 41 percent in Oct. 2014.

Affordability is a common topic on our website, and for good reason. Not only does it continue to worsen at time drags on, but it has also led to both a surge of doubled-up households (essentially, homes with roommates) and shifting consumer preferences for homes that are more cost-effective and closer to where they work; regardless of what one may think about housing affordability, it’s here to stay, and with consumer incomes still stagnant and savings low, it will continue to shape the housing market as it lurches into recovery.

Interested in how our area compares with other metro areas? Check out our graphic below, and stay tuned for additional coverage from us on affordability, including average down payment data and what percentage of housing is affordable to Millennials.