South Florida residents are spending as much as 79 percent of their income on housing.
According to May’s RealtyHop Affordability Index, housing in Miami is the least affordable in the country, reports Carolina Villagra for WSVN News. “Residents that are likely able to afford the cost of housing in Miami are high-earning New York City residents, said the report.”
“According to the report, the median listing price for homes in Miami is $585,000; It also stated that homeowners can expect to spend 79.92% of their monthly income on housing expenses.” Nearby Hialeah, another Miami-Dade County city, ranked as fifth least affordable, with housing costing more than 65 percent of the average household income.
A recent study from Florida Atlantic University linked short-term rentals to housing affordability as the industry grows in South Florida.
FULL STORY: RealtyHop ranks Miami No. 1 in least affordable housing market in US
Homeownership Increasingly Out of Reach
From the United States to the United Kingdom, housing costs are eating up a larger percentage of household income.
Affordable Housing, Defined
Some experts say the metric used to define the housing cost burden is outdated and no longer reflects the reality of household needs.
Arlington to Open Housing Voucher Waiting List
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Maui's Vacation Rental Debate Turns Ugly
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Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
San Francisco Suspends Traffic Calming Amidst Record Deaths
Citing “a challenging fiscal landscape,” the city will cease the program on the heels of 42 traffic deaths, including 24 pedestrians.
Defunct Pittsburgh Power Plant to Become Residential Tower
A decommissioned steam heat plant will be redeveloped into almost 100 affordable housing units.
Trump Prompts Restructuring of Transportation Research Board in “Unprecedented Overreach”
The TRB has eliminated more than half of its committees including those focused on climate, equity, and cities.
Amtrak Rolls Out New Orleans to Alabama “Mardi Gras” Train
The new service will operate morning and evening departures between Mobile and New Orleans.
Urban Design for Planners 1: Software Tools
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