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According to World Population Review's 2024 analysis, Miami-Dade County's poverty rate is currently at 15.26%, with 16.76% of females in the population living in poverty. This is more than two points higher than the state's average of 13.11% poverty rate. Women especially are affected by poverty, with the county's average at 16.76% compared to the state number of 14.15% living in poverty. As the state's most populous county, these numbers represent a fairly large number of people struggling to afford housing in addition to basic living expenses.
Indeed, the United Way's reporting shows that 34% of households in the county are ALICE (Asset Limited, Income Constrained, Employed), meaning these families earn more than the Federal Poverty Level but just enough to maintain a "household survival budget" with nothing left over for savings or emergencies.
Miami-Dade County suffers from a severe shortage of affordable housing. Of the existing stock of affordable housing, many units are substandard: one of every three apartment buildings in the county repeatedly fails to meet safety standards, leaving the tenants vulnerable to fire and health hazards. In an attempt to make housing affordable, many families move in with other families, leading to severe overcrowding. These close quarters in unlicensed, substandard properties lead to unhealthy living conditions for its residents. Thousands of families live in unsafe environments with high rents.
The availability of affordable rental housing is slim and families are being priced out of the housing market. In fact, according to Realythop.com's Housing Affordability Index in May 2024, Miami maintained its spot as the second least affordable housing market. The once most unaffordable city in the country has been showing signs of cooling. The median list price for a home decreased to $710,000, and the average family will spend $4,378.55 monthly on mortgage payments and property taxes.
Increasing homeownership improves the quality of neighborhoods by increasing both the length of time families remain in the neighborhood and their involvement in their community. Homeowners are more likely than renters to be involved in civic activities and improving the quality of life of their surrounding community. Homeownership stabilizes neighborhoods by replacing abandoned lots with properties that generate tax dollars. Homeownership also boosts a neighborhood’s wealth through the increase of equity and the mortgage interest tax deductions.
Since 1989, Habitat for Humanity of Greater Miami has been working within the community to build decent, affordable homes in partnership with families in need, volunteers and donors. Habitat breaks down economic and social barriers by bringing people of different races, ethnicities and cultural backgrounds to work together for a common goal.
*According to Chapter 420 of the Florida Statues, "Affordable" means that monthly rents or monthly mortgage payments including taxes, insurance, and utilities do not exceed 30 percent annual income for a household.
Indeed, the United Way's reporting shows that 34% of households in the county are ALICE (Asset Limited, Income Constrained, Employed), meaning these families earn more than the Federal Poverty Level but just enough to maintain a "household survival budget" with nothing left over for savings or emergencies.
Miami-Dade County suffers from a severe shortage of affordable housing. Of the existing stock of affordable housing, many units are substandard: one of every three apartment buildings in the county repeatedly fails to meet safety standards, leaving the tenants vulnerable to fire and health hazards. In an attempt to make housing affordable, many families move in with other families, leading to severe overcrowding. These close quarters in unlicensed, substandard properties lead to unhealthy living conditions for its residents. Thousands of families live in unsafe environments with high rents.
The availability of affordable rental housing is slim and families are being priced out of the housing market. In fact, according to Realythop.com's Housing Affordability Index in May 2024, Miami maintained its spot as the second least affordable housing market. The once most unaffordable city in the country has been showing signs of cooling. The median list price for a home decreased to $710,000, and the average family will spend $4,378.55 monthly on mortgage payments and property taxes.
Increasing homeownership improves the quality of neighborhoods by increasing both the length of time families remain in the neighborhood and their involvement in their community. Homeowners are more likely than renters to be involved in civic activities and improving the quality of life of their surrounding community. Homeownership stabilizes neighborhoods by replacing abandoned lots with properties that generate tax dollars. Homeownership also boosts a neighborhood’s wealth through the increase of equity and the mortgage interest tax deductions.
Since 1989, Habitat for Humanity of Greater Miami has been working within the community to build decent, affordable homes in partnership with families in need, volunteers and donors. Habitat breaks down economic and social barriers by bringing people of different races, ethnicities and cultural backgrounds to work together for a common goal.
*According to Chapter 420 of the Florida Statues, "Affordable" means that monthly rents or monthly mortgage payments including taxes, insurance, and utilities do not exceed 30 percent annual income for a household.
