With a 110k income, homeownership in Florida might be more challenging, especially in Miami. Financial advisors recommend spending about 3 to 4 times your annual income on a home, setting your budget between $330,000 and $440,000.

However, the median home price in Miami is approximately $550,000, which exceeds your maximum affordability range. This suggests that the major market may be less accessible at your current income level.

That said, more affordable options may be found in other areas such as Tampa and Orlando, where prices average around $450,000. Florida has a property tax rate of 0.85%, or roughly $4,675 per year on an average home. Considering a cost of living close to the national average, you might need to explore alternative locations or financing strategies to meet your homeownership goals.