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Broward Housing Crisis
2/28/02: The following gives a picture of what is quietly becoming a crisis
in Broward County. Based on recent diagnostic analysis and studies, Broward is on
the cusp of experiencing a monumental challenge in the provision of affordable housing
units to current and new residents. The following information was compiled by The
National Low Income Housing Coalition. The problem simply boils down to: 1) the
number of poor, unassisted residents in Broward, is at an all time high while the
number of housing units available to them is decreasing; 2) the "housing wage"
one must earn to afford a one or two bedroom unit anywhere in the County exceeds
the minimum wage by a factor of 2.5; and 3) low wage workers in Broward are increasingly
faced with impossible demands on their ability to live in safe, decent, affordable
In Florida, Fair Market Rent for a two-bedroom unit is $628.
Fair market rent for a one-bedroom unit is $512.
An extremely low income household (earning 30%
of the AMI of $46,286) can afford monthly rent of no more than $347.
A 3-person household receiving the maximum TANF
grant can afford monthly rent of no more than $91.
A minimum wage earner, earning $10,712 annually,
can afford monthly rent of no more than $267.80.
A household on SSI can afford monthly rent of
no more than $145. (costs no more than 30% of income).
43% of renters in Florida are unable to afford
Fair Market Rent for a two-bedroom unit.
In Florida, a worker earning the Federal Minimum
Wage ($5.15 per hour) has to work 94 hours per week in order to afford a two-bedroom
unit at the area's Fair Market rent.
The Housing Wage in Florida is $12.08. This is
the amount a worker would have to earn per hour in order to be able to work 40 hours
per week and afford a two-bedroom unit at the area's Fair Market rent. This is 235%
of the present Federal Minimum wage ($5.15 per hour).