Updates from Shimberg Center provide statistics on 3 Florida Metro Areas
The Shimberg Center for Housing Studies at the University of Florida recently released 3 reports on the need for rental housing in Florida:
Miami – Fort Lauderdale – West Palm Beach MSA, where there was a 19% increase in the number of renters in need from 2007 to 2013; - Orlando Area, where the number of renter households jumped by 22% from 2007 to 2013, while owner-occupied households fell 3% in the same period;
- Tampa – St. Petersburg – Clearwater MSA, where 70% of extremely low income households are cost burdened, meaning they pay more than 40% of income for rent
These regional statistics are compiled from the U.S. Census Bureau’s American Community Surveys, and accompany a report issued by The Shimberg Center on Florida’s Affordable Rental Housing Needs.
The need for affordable rental housing nationwide continues to be in the news:
- A Gallup Poll reveals 41% of non-homeowners have to plans to buy a house
- This Miami Herald article states Miami has the highest rate in the nation of 18-35 year-olds living with parents due to the lack of affordable rent
- The United Way’s ALICE Report (Asset Limited, Income Constrained, Employed) shows a household survival budget in Florida includes expenses of $46,000 per year
- The National Low Income Housing Coalition Out of Reach 2015 report explains how in Florida an hourly wage of $19.47 is required to afford rent on a 2-bedroom apartment
Florida Community Loan Fund continues to address the need for affordable rental housing in Florida by working with non-profit organizations – and mission-based for-profit organizations – to help their projects succeed. Examples of rental properties made possible by financing from FCLF include:
- Neighborhood Renaissance, with rental properties available in Palm Beach County
- Rio Palma Apartments, providing affordable rent in Miami's Little Havana
- Little Haiti Gateway, developed by Carrfour in Miami and offering furnished apartments to formerly homeless
- Maitland Oaks, affordable apartment homes near Orlando
- St. Johns Housing Partnership, providing affordable apartments in St. Augustine
