Study: Florida 16th most expensive state for apartment rentals

Study: Florida 16th most expensive state for apartment rentals

Wednesday, January 20, 2016

Florida ranked 16th most expensive of the 50 states plus Washington, D.C., and Puerto Rico in a recent study by the National Low Income Housing Coalition.

Analyzed in this story on The Washington Post's Wonkblog, the NLICH study calculates the hourly wage a household needs to afford a "modest, two-bedroom apartment." In Florida, that is $19.47 an hour, or more than twice the state's minimum wage. The report also says a minimum-wage worker in Florida must work 77 hours a week to affordably rent a 1-BR apartment. (For affordability, NLICH uses the industry-standard threshold of 30 percent or less of income toward housing.)

For a look at Florida's profile in the study, go here.

For more information about housing affordability in our state and region, see the new Home Matters for Florida report from the Florida Housing Coalition and last year's Sarasota County-specific Home Matters report, commissioned by Gulf Coast Community Foundation.