Orlando’s Severe Affordable Housing Shortage and What to Do About It2017-07-252017-07-25/wp-content/uploads/2019/02/n30833-fishkind-logo-01.jpgFishkind Litigation Services/wp-content/uploads/2019/02/n30833-fishkind-logo-01.jpg200px200px
Economic analyst Hank Fishkind says that’s one of the conclusions of a new study by National Low Income Housing Coalition. The researchers measured housing affordability using a standard formula developed by the U.S. Housing and Urban Development Department, or HUD.
According to Fishkind, the study found that few places in the country have enough rentals for income-challenged residents, but Orlando’s shortage is twice as severe as the nation’s and the third worst in the country behind only Los Angeles, California and Las Vegas, Nevada.
Speaking to 90.7’s Nicole Darden Creston from the busy Los Angeles airport, Fishkind starts with the study’s findings on Florida’s “fair market rent,” and the salary an average resident would need in order to reach the generally accepted norm of spending not more than 30 percent of income on housing costs.