Miami tops the list, while West Palm Beach comes in #3 Palm Beach County Setting National Example for Affordable Housing Policy
While Florida's recent tremendous growth has brought great benefits, the increase in housing demand has only further exacerbated the need for attainably priced housing.
March 31, 2023 at 12:21 PM
3 minute read
Housing affordability is a crisis both in Florida and across the nation. In 2022, U.S. housing demand outpaced supply by 3.8 million homes and between 2021 to 2022 the average national rent increased 14%. And over the past two years, average rents have increased 26% across Florida and 32% in Palm Beach County (PBC). With nearly 60% of renter households cost burdened (pay more than 30% of their income toward housing costs) and 30% severely cost burdened (pay more than 50% of income), Palm Beach County is among the most expensive places to live in the United States.
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