Despite an increase in single-family home inventory and growth in stock, many Floridians face significant housing cost burdens, particularly those earning below 80% of the area median income (AMI). The research highlights that renters making less than 60% AMI are severely affected, with over 883,000 households spending more than 40% of their income on rent. This scenario is critical among older residents, prompting discussions on planning solutions to address these growing challenges for Florida’s aging population, particularly in South Florida, which anticipates a larger influx of older Americans.
When families pay a large share of their income for housing, it's harder to cover other critical costs such as food, transportation, and health care.
Despite this upward trend, residents making less than 80% of the area median income (AMI) continue to struggle to find affordable units.
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