(FLA) — The price of living in Florida is becoming more unaffordable for residents as rent continues to climb, according to a new report.
The new report shows just how unaffordable the Sunshine State has become, especially in South Florida.
The National Low Income Housing Coalition released its “Out of Reach” report which breaks down how many hours someone would need to work in order to afford a place to live in their area.
The report revealed that at Florida’s current minimum wage, the average person would need to work 106 hours per week to afford a two-bedroom home, and 86 hours per week to afford a one-bedroom home.
South Florida has filled up the top five spots of the most expensive areas in the state, without paying more than a third of your income. Monroe County comes at number one at $33.83, Miami-Dade at number two at $32.12, and Fort Lauderdale area at number five at $29.92.
The report also states that in order for many people to keep up with these prices, they would have to work more than one full-time job.