I'm not sure whether it is a new feature in later versions of matplotlib, but at least for 1.3.1, this is simply:

plt.title(figure_title, y=1.08)

This also works for plt.suptitle(), but not (yet) for plt.xlabel(), etc.

Forget using plt.title and place the text directly with plt.text. An over-exaggerated example is given below:

import pylab as plt

fig = plt.figure(figsize=(5,10))

figure_title = "Normal title"
ax1  = plt.subplot(1,2,1)

plt.title(figure_title, fontsize = 20)
plt.plot([1,2,3],[1,4,9])

figure_title = "Raised title"
ax2  = plt.subplot(1,2,2)

plt.text(0.5, 1.08, figure_title,
         horizontalalignment='center',
         fontsize=20,
         transform = ax2.transAxes)
plt.plot([1,2,3],[1,4,9])

plt.show()

I was having an issue with the x-label overlapping a subplot title; this worked for me:

import matplotlib.pyplot as plt
fig, ax = plt.subplots(2, 1)
ax[0].scatter(...)
ax[1].scatter(...)
plt.tight_layout()
.
.
.
plt.show()

before

after

reference:

• https://matplotlib.org/users/tight_layout_guide.html

ax.set_title('My Title\n', fontsize="15", color="red")
plt.imshow(myfile, origin="upper")

If you put '\n' right after your title string, the plot is drawn just below the title. That might be a fast solution too.