x
Breaking News
More () »

Report: Florida has some of the least affordable cities for renters

With more than a third of households in the state being occupied by renters, the issue of affordability comes up pretty often.
Credit: Sharkshock - stock.adobe.com
Downtown Tampa

It's a problem millions of Floridians know all too well. 

With more than a third of households in the state being occupied by renters, the issue of affordability comes up pretty often. According to the National Low Income Housing Coalition, 79 percent of low-income renting households in Florida are severely cost-burdened. That means renters are spending more than half of their income to keep a roof over their heads.

A recent report by the research firm AdvisorSmith shows just where in Florida those issues are the most prevalent. 

By comparing the ratio of the median rent and median household income in large, midsize and small cities, researchers found which cities across the U.S. were the least affordable. Tampa just cracked the top 10 for large cities, but Miami ranked number one.

Gainesville was ranked number 9 for midsize cities. Clearwater and Port Saint Lucie just missed the top 10 - ranking 11 and 13 respectively. 

However, when it came to small cities, Florida dominated the list. Seven cities made the top 10. Bradenton was ranked number eight. 

If you strip away population size and just look at the rent-to-income ratio for all cities, 40 percent of Florida cities make up the top 50 of least affordable cities.