South Florida residents are spending as much as 79 percent of their income on housing.
According to May’s RealtyHop Affordability Index, housing in Miami is the least affordable in the country, reports Carolina Villagra for WSVN News. “Residents that are likely able to afford the cost of housing in Miami are high-earning New York City residents, said the report.”
“According to the report, the median listing price for homes in Miami is $585,000; It also stated that homeowners can expect to spend 79.92% of their monthly income on housing expenses.” Nearby Hialeah, another Miami-Dade County city, ranked as fifth least affordable, with housing costing more than 65 percent of the average household income.
A recent study from Florida Atlantic University linked short-term rentals to housing affordability as the industry grows in South Florida.
FULL STORY: RealtyHop ranks Miami No. 1 in least affordable housing market in US
Homeownership Increasingly Out of Reach
From the United States to the United Kingdom, housing costs are eating up a larger percentage of household income.
Affordable Housing, Defined
Some experts say the metric used to define the housing cost burden is outdated and no longer reflects the reality of household needs.
Arlington to Open Housing Voucher Waiting List
Despite a high need in the area, it’s been more than a decade since the Virginia city last opened applications for housing vouchers.
Alabama: Trump Terminates Settlements for Black Communities Harmed By Raw Sewage
Trump deemed the landmark civil rights agreement “illegal DEI and environmental justice policy.”
Study: Maui’s Plan to Convert Vacation Rentals to Long-Term Housing Could Cause Nearly $1 Billion Economic Loss
The plan would reduce visitor accommodation by 25% resulting in 1,900 jobs lost.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Wind Energy on the Rise Despite Federal Policy Reversal
The Trump administration is revoking federal support for renewable energy, but demand for new projects continues unabated.
Passengers Flock to Caltrain After Electrification
The new electric trains are running faster and more reliably, leading to strong ridership growth on the Bay Area rail system.
Texas Churches Rally Behind ‘Yes in God’s Back Yard’ Legislation
Religious leaders want the state to reduce zoning regulations to streamline leasing church-owned land to housing developers.
Urban Design for Planners 1: Software Tools
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