Out of Reach

Florida

In Florida, an extremely low income household (earning $15,730, 30% of the Area Median Income of $52,434) can afford monthly rent of no more than $393, while the Fair Market Rent for a two bedroom unit is $727.

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

An SSI recipient (receiving $545 monthly) can afford monthly rent of no more than $164, while the Fair Market Rent for a one-bedroom unit is $593.

In Florida, a worker earning the Minimum Wage ($5.15 per hour) must work 109 hours per week in order to afford a two-bedroom unit at the area's Fair Market rent.

The Housing Wage in Florida is $13.98. This is the amount a full time (40 hours per week) worker must earn per hour in order to afford a two-bedroom unit at the area's Fair Market rent. This is 271% of the minimum wage ($5.15 per hour). Between 2001 and 2002 the two bedroom housing wage increased by 4.71%.

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: $
Want to see what a worker in your community would have to earn to keep their housing affordable? Are you curious to know if you are paying more in rent than what is considered affordable (30% of income)? Type in the monthly rent for your home, or a home in your community, and see what it would take for it to be affordable.

Calculate a Housing Wage for a Home in My Community
State: Monthly Rent: $ Want to see what a worker in your community would have to earn to keep their housing affordable? Are you curious to know if you are paying more in rent than what is considered affordable (30% of income)? Type in the monthly rent for your home, or a home in your community, and see what it would take for it to be affordable.

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

Location	Number of Households
Location	Total Households	Renter Households	Renter Households as Percent of Total Households
Florida	6,337,929	1,896,130	29.92%

2002 Family Income
Location	2002 Estimated Median Family Income (HUD)		Maximum Affordable Monthly Housing Cost by % of Family AMI
Location	Annual	Monthly	30%	50%	80%	100%
Florida	$52,434	$4,369	$393	$655	$1,049	$1,311

Fair Market Rents by Number of Bedrooms
Location	Zero	One	Two	Three	Four
Florida	$505	$593	$727	$973	$1,139

Income Needed to Afford FMR
Location	Amount					Percent of Family AMI
Location	Zero Bedrooms	One Bedroom	Two Bedrooms	Three Bedrooms	Four Bedrooms	Zero Bedrooms	One Bedroom	Two Bedrooms	Three Bedrooms	Four Bedrooms
Florida	$20,182	$23,713	$29,075	$38,920	$45,542	38%	45%	55%	74%	87%

Location	Housing Wage
	Hourly Wage Needed to Afford (@ 40 hrs./wk.)					Percent Change in 2BR Housing Wage (2001-2002)	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	$9.70	$11.40	$13.98	$18.71	$21.90	4.71%	188%	221%	271%	363%	425%

Location	Work Hours/Week Necessary at Minimum Wage to Afford ( FL=$5.15 )
Location	Zero Bedroom FMR	One Bedroom FMR	Two Bedroom FMR	Three Bedroom FMR	Four Bedroom FMR
Florida	75	89	109	145	170

"Affordable" rents represent the generally accepted standard of spending not more than 30% of income on housing costs.
AMI = Area Median Income (HUD, 2002).
FMR = Fair Market Rent (HUD, 2003, proposed).

F O O T N O T E S

Florida:

FMRs for jurisdictions labeled with an asterisk (*) have FMRs calculated at the 50th percentile. See Appendix B for explanation.

Compare to Last Year's Out of Reach data

View Out of Reach 2001 data for this area.

Receive Data

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.

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