Out of Reach

Out of Reach 2001: America’s Growing Wage-Rent Disparity
Florida

  • In Florida, an extremely low income household (earning $15,210, 30% of the Area Median Income of $50,700) can afford monthly rent of no more than $380, while the Fair Market Rent for a two bedroom unit is $694.

  • A minimum wage earner (earning $5.15 per hour) can afford monthly rent of no more than $268.

  • An SSI recipient (receiving $512 monthly) can afford monthly rent of no more than $154, while the Fair Market Rent for a one-bedroom unit is $566.

  • In Florida, a worker earning the Minimum Wage ($5.15 per hour) must work 104 hours per week in order to afford a two-bedroom unit at the area's Fair Market rent.

  • In Florida, 46% of renter households pay more than 30% of their income for rent.

  • The Housing Wage in Florida is $13.35. 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 259% of the present Minimum wage ($5.15 per hour). Between 2000 and 2001 the two bedroom housing wage increased by 9.45%.

A unit is considered affordable if it costs no more than 30% of the renter's income.
Calculate a Housing Wage for a Home in My Community
State:    Monthly Rent: $   

For an explanation of this data, see How to use the Numbers and Where the Numbers Come From.

Location Number of Renter Households
1990 2000 Percent Change,
1990-2000
Florida   1,681,847  1,896,130  12.74%

2001 Family Income
Location 2001 Estimated Median Family Income (HUD) Maximum Affordable Monthly Housing Cost by % of Family AMI
Annual Monthly 30% 50% 80% 100%
Florida   $50,700  $4,225  $380  $634  $1,014  $1,268

Fair Market Rents by Number of Bedrooms
Location Zero One Two Three Four
Florida   $482  $566  $694  $930  $1,087

Income Needed to Afford FMR
Location Amount Percent of Family AMI
Zero
Bedrooms		 One
Bedroom		 Two
Bedrooms		 Three
Bedrooms		 Four
Bedrooms		 Zero
Bedrooms		 One
Bedroom		 Two
Bedrooms		 Three
Bedrooms		 Four
Bedrooms
Florida  $19,277  $22,646  $27,774  $37,194  $43,487  38%  45%  55%  73%  86%

 Location
Housing Wage
Hourly Wage Needed to Afford
(@ 40 hrs./wk.)
Percent Change
in 2BR
Housing Wage
(2000-2001)
As % of Minimum Wage
( FL=$5.15 )
Zero
Bedroom
FMR
One
Bedroom
FMR
Two
Bedroom
FMR
Three
Bedroom
FMR
Four
Bedroom
FMR
Zero
Bedroom
FMR
One
Bedroom
FMR
Two
Bedroom
FMR
Three
Bedroom
FMR
Four
Bedroom
FMR
Florida
 $9.27
  $10.89  $13.35
 $17.88
  $20.91  9.45% 180%
211%
259%
 347% 406%

Location
Work Hours/Week
Necessary at Minimum
Wage to Afford
( FL=$5.15 )
Zero
Bedroom
FMR
One
Bedroom
FMR
Two
Bedroom
FMR
Three
Bedroom
FMR
Four
Bedroom
FMR
Florida  72  85  104  139  162


F O O T N O T E S
Florida:

Minimum wage used for calculations for Oregon is $6.50, the statewide minimum wage.

Methodology Notes:

HUD calculates FMR as the 50th percentile (i.e. median) instead of the 40th percentile for the areas marked with an asterisk (*). See methodology section for further explanation.


Compare to Last Year's Out of Reach data

View Out of Reach 2000 data for this area.

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Click with your right mouse button to download a formatted Microsoft Excel table with all data for Florida. Click with your right mouse button to download a Microsoft Excel table with explanations of the fieldnames.