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That makes Florida the most "rent-burdened" state in the nation, topping such other high rent states as California and New York. The study reports that only 30 percent of residents in those two states spend half their income on rent.
At a major complex for farmworkers in Florida, residencies are riddled with holes. About 15 percent of properties built through USDA’s two main rental housing programs are in poor or below average.
With rising rents, incomes don't cover the cost of housing for many renters.. Florida and California have the largest shares of cost-burdened.
Occupation Total Employment Median Hourly Wage ; Farmworkers (crop related) 194,850 : $11.81 : Food prep workers, fast food
There are no current indications that will change or that the county will be forced to shoulder more of the burden in the.
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Paying rent or a mortgage is never easy. But in thousands of neighborhoods across the country, it's a burden of epidemic proportions.
This imbalance is contributing to high rates of "rent burden," which for the purposes of this analysis is defined as spending 30 percent or more of pretax income on rent. Rent-burdened households have higher eviction rates, increased financial fragility, and wider use of social safety net programs, compared with other renters and homeowners.
However, due to lower median annual incomes and/or higher rents, some cities see a far higher burden in rent. Charlotte, NC survey respondents came in as most rent burdened in the nation, spending 42% of their monthly income on rent. Miami and Fort Lauderdale in Florida both spend roughly 40%.
8. San Diego, CA. Of all the cities with the highest rent in US, none saw rents increase more than the San Diego real estate market in the last year. As recently as the beginning of 2019, the median rent in San Diego for a one-bedroom apartment increased by as much as 12.7 percent over the previous year.
While Southern California homeownership once symbolized the achievement of the California Dream, Los Angeles now has one of the most populated rental markets in the country. With 60% of Angelenos occupying the rental market, the city joins New York, Miami, and San Fransisco as major cities with the highest rates of renters.
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