Fair Market Rent in Central Florida – can you afford housing?

market-value

The National Low Income Housing Coalition is committed to achieving public policy that guarantees even people with the lowest incomes in the United States have access to affordable and decent homes. Their dream, however, is far from a present reality. According to the 2009 “Out of Reach” report, affordable housing is just not available for much of the workforce.

Perhaps not surprisingly for those who live here, the Sunshine State ranked number 8 in the most expensive jurisdictions.

To localize this issue further, the report states that in the Orlando-Kissimmee MSA, the Fair Market Rent for a 2-bedroom apartment is now $985. The Department of Housing and Urban Development (HUD) estimates that a household should spend no more than 30% of income on housing; therefore, in order to afford an average two-bedroom apartment in this area, families must earn $18.94 per hour. This equates to 2.6 minimum wage jobs at the present $7.21 per hour.

What this statistic means is that both parents could be working full-time and still be unable to provide basic shelter for their children. We find that heartbreaking.

To find out more information, you can see the statistics for each state and particular region in the “Out of Reach” report. Tell us: how many jobs would you have to work at minimum wage in order to afford a two-bedroom apartment in your area?

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