WPTV – NBC West Palm Beach (Broadcast) | October 2, 2015
By: Jamel Lanee’
WEST PALM BEACH, Fla. – According to a new study, Floridians are paying more in rent, but making less than most people, living in other major cities.
Compared to California and New York, Florida has the highest share of renters who spend more than half their income on housing.
New numbers released Thursday show 30.3 percent of Floridians fit that description.
The new study was conducted by Enterprise Community Partners. Experts said developers continue to focus more on luxury rentals than affordable housing.
South Florida has the highest percentage of renters devoting at least half their income.
In Palm Beach County, the average wage fell by 2 percent from last year to this year, but rent has gone up by nearly 9 percent.
Labor groups have been pushing to boost minimum wage to $15 an hour.
Even though experts said Florida fared poorly on the study, it’s still a good place to buy a house. Realtors said more than 60 percent of the homes and condos bought in Palm Beach County were affordable to median income families.
Broadcast last accessed here on October 12, 2015.