Florida ranks 15th as most expensive for rentals

Submitted by Suanne Z. Thamm
Reporter – News Analyst
July 10, 2019 11:18 a.m.

The National Low Income Housing Coalition recently released its report for 2019 in rental incomewhich Florida ranks as the 15th most expensive state when it comes to how much someone must earn to afford a two-bedroom apartment.

Florida’s minimum wage is $8.46 per hour.  According to their latest report, people would need to earn $22.86 per hour to afford the average monthly rent of $1,189.

According to their report, 22 percent of Nassau County residents are renters, as opposed to 35 percent statewide.  A person earning minimum wage would need to work 88 hours per week to afford a two-bedroom apartment.  The estimated mean renter wage for Nassau County is $10.22, compared to $16.67 statewide.  At mean renter wage, a Nassau County worker would need to work 73 hours per week to afford a two-bedroom apartment.

The term “affordable housing” is based on 30 percent of the area’s annual median income, which for Nassau County works out to $22,050.  The estimated renter annual median household income for Nassau County is $37,225.

Income needed to rent a 2-bedroom apartment decreases in moving west from Amelia Island.

Established in 1974 by Cushing N. Dolbeare, the National Low Income Housing Coalition is dedicated solely to achieving socially just public policy that assures people with the lowest incomes in the United States have affordable and decent homes. NLIHC educates, organizes, and advocates to ensure decent, affordable housing for everyone.

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