Issue Brief: Housing Cost Burden for Florida Renters
April 28, 2023 / RERI Research Team / Tags: Issue Brief, Regional Economic Indicators, Reports
Rising rental costs have been an ongoing concern for many families across the nation. Population growth has fueled this surge in Florida, with the population in the Sunshine State growing by 1.9 percent between 2021 and 2022. The increased demand for housing has placed upward pressure on rental prices in the state, and has increased the share of total income that households have had to dedicate towards housing costs. This burden comes with significant consequences for renters, including (but not limited to) reduced disposable incomes, higher levels of debt, and greater economic inequality.