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  Hikes In So. Fla. Living Shakes Housing Foundation

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Hikes In So. Fla. Living Shakes Housing Foundation

Click On Miami-Dade Cty Workforce Housing Needs Report

Rising prices of basic goods are leaving many South Floridians feeling pinched, and an economic slowdown is hampering people's ability to pay for the most basic costs of living, such as milk, a loaf of bread, a gallon of gasoline and affordable housing.
 
Dario Moreno, director of the Metropolitan Center at FIU, explained to CBS4 Consumer Investigator Al Sunshine that while costs keep rising, the local economy is creating lower paying jobs, and the average wages for those jobs are declining.

The average income for South Floridians is $2,240 per month and the average monthly rent of $1,354 is taking 60 percent of a person's income before taxes.

U.S. government claims that housing costs should be 30 percent or less of someone's income. 

In Miami-Dade, according to the Metropolitan Center, 85 percent of its residents pay much more toward housing than the national average.

According to Moreno, reasons for the rental housing shortage and the increase in its per unit cost are due to the high level of construction in luxury units and condo conversions, and the collapse of the entire market.

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