Florida's Affordable Housing Needs

Our affordable housing research tracks changes in housing prices, the supply of affordable rental housing and "cost burdened" households (those paying a high percentage of income for their rent or mortgage).

Florida's Affordable Housing Needs

The Center works in close partnership with Florida Housing Finance Corporation to provide data and analysis to guide the Florida's affordable housing efforts. Since 2001, we have produced the Florida Housing Data Clearinghouse, a compendium of affordable housing supply and demand data, under contract with Florida Housing. The Shimberg Center also produces a Statewide Rental Market Study every three years on Florida Housing's behalf. The market study quantifies the affordable housing needs of low-income families and seniors, farmworkers, special needs households, and homeless persons in Florida.

Key findings:

  • Single-family home prices nearly doubled in the first half of the 2000s. These gains disappeared during the recession, but the market has begun to rebound. Florida's median single-family home price rose 79% from 2000 ($163,200) to 2006 ($292,900), adjusted for inflation. It then fell to $161,700 in 2011, bringing it back into line with 1999 prices, before rising to $187,500 in 2013.
  • Florida has faced a shortage of affordable housing throughout the housing boom, bust and recovery. In 2000, 50% of low-income (<60% AMI) households were cost burdened (paid more than 40% of income for housing). The cost burden rate rose to 65% in 2009 before falling to 61% in 2013.
  • Renters are the hardest hit. 69% of Florida's low-income renters are cost burdened, compared to 52% of home owners. Over 715,000 renter households are cost burdened.
  • There are only 31 affordable and available rental units for every 100 extremely low-income (<30% AMI) renter households.

Contact

Anne Ray (aray@ufl.edu)