WESH 2 News looked into the number of hours some people would have to work, just to afford an apartment in Central Florida.
“We’re not just a little metro, a little metro that could. We’ve grown into a major metropolitan area,” said University of Central Florida professor and nationally recognized economist, Dr. Sean Snaith.
Snaith said Central Florida’s economy remains robust.
WESH 2 News asked Snaith his opinion on the new National Low-Income Housing Coalition’s “Out of Reach” annual report, which says, in part, “An Orlando-area worker making minimum wage would need to work 108 hours a week to afford a two-bedroom rental at Fair Market Rent ($1,190).”
“Trying to imagine to have to just pay rent seems a bit excessive, talking about a single earner,” Snaith said.
Approximately 40% of all households in the Orlando metropolitan area are renters.
Snaith said there is a large population of young people because of the many institutions of higher learning in the area.
“It also says something about the fallout from the housing bubble and the last cycle we went through that forced a lot of people into the renters’ market,” Snaith said.
Snaith also said the statistics of the new report are an indication of some of the the area’s growing pains and reminders of what needs to be addressed.
“Population growth has been very strong in the region, job growth, economic growth, but housing has not kept pace,” he said.
Snaith said transportation is another area.
“We have to keep our eye on the endgame, increasing capacity in our ability to move people in our metro area from home to work, and back again,” he said.
The National Low-Income Housing Coalition was established in 1974.
Its sole purpose is to ensure people with the lowest incomes in the United States have affordable and decent homes.
Orlando Florida has been suffering with a lack of low income properties for years. That’s why I lived in a hotel for 5 years.