Despite drop in housing prices, affordability in Florida declines for ‘working’ households | Tampa Bay business news blog: Venture | Tampa Bay Times
Florida ranks no. 2 behind California in number of households paying at least half their income on housing costs. Housing costs have fallen in Florida, but income has fallen more. While there are jobs being created in Florida these jobs pay 25% less than the ones they replaced. The result is that 1/3 of working households pay at least half of their income in housing costs (43% in the greater Miami area). Nationwide that number is only 25%.