The county’s mayor has declared housing affordability a crisis as costs in South Florida cities rise by as much as 30 percent.
Justin Matthews of the Associated Press reports on Miami-Dade County's housing affordability problem, which, according to the county's mayor, has reached crisis proportions.
Mayor Daniella Levine Cava noted that rents in the county rose by 30 percent over the last year, squeezing households and businesses. The mayor announced a $13 million investment in rental assistance and promised further action from the county's cities and towns.
Other South Florida cities, including Tampa, Fort Myers, and Orlando are experiencing similar cost spikes. Experts say that while rents tend to remain more stable than home prices, the pandemic led to the more drastic increases in rents in the last year as housing construction slowed due to supply chain issues and more people relocated to Florida.
FULL STORY: Miami-Dade mayor declares housing affordability crisis as rent jumps 30% since last year
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