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Old 06-09-2016, 03:11 PM
 
6,940 posts, read 9,681,455 times
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Quote:
Originally Posted by Arcenal352 View Post
Isn't that pretty much the case everywhere? I don't particularly consider 30% to be that much of a burden, especially if that includes housing maintenance/upgrades.

No

80% is extremely high.
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Old 06-09-2016, 03:15 PM
 
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Quote:
Originally Posted by Arcenal352 View Post
Right; The "cost-burdened" applies to folks who spend more than half of their income on housing -- NOT 30%. And this includes renters. Joe working the cash registers at Wal-Mart and Circle K is going to struggle to pay for his $750/month apartment, I agree.
Quote:
Originally Posted by Spring Hillian View Post
Its not an "Orlando specific" problem either. Orlando does not reach the Top 10 List.

https://smartasset.com/mortgage/the-...urdened-cities


Sorry for the misstatement. 80% of those incomes below $35,000 are cost burdened. This is still alarming.


The Fed just released this report in the last couple of weeks.

https://frbatlanta.org/commdev/publi...heast?d=l&s=tw
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Old 06-09-2016, 03:55 PM
 
Location: Spring Hill Florida
12,135 posts, read 16,138,172 times
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Quote:
Originally Posted by knowledgeiskey View Post
Sorry for the misstatement. 80% of those incomes below $35,000 are cost burdened. This is still alarming.


The Fed just released this report in the last couple of weeks.

https://frbatlanta.org/commdev/publi...heast?d=l&s=tw
Its alarming because its a national problem.
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Old 06-09-2016, 08:22 PM
 
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Quote:
Originally Posted by Spring Hillian View Post
Its alarming because its a national problem.

Please cite a source.
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Old 06-09-2016, 08:49 PM
 
Location: Flawduh
17,210 posts, read 15,404,507 times
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Households below $35,000?????? :/
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Old 06-10-2016, 05:48 AM
 
Location: Cary, NC
74 posts, read 77,223 times
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Quote:
Originally Posted by knowledgeiskey View Post
Sorry for the misstatement. 80% of those incomes below $35,000 are cost burdened. This is still alarming.


The Fed just released this report in the last couple of weeks.

https://frbatlanta.org/commdev/publi...heast?d=l&s=tw
Households making less than $35K are cost burdened?!? Get out of town!
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Old 06-10-2016, 08:20 AM
 
Location: Spring Hill Florida
12,135 posts, read 16,138,172 times
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Quote:
Originally Posted by knowledgeiskey View Post
Please cite a source.
You're joking, right? In case you are serious and are under the delusion that housing costs rising to unacceptable levels only happens in FL.........../


https://frbatlanta.org/commdev/publi...heast?d=l&s=tw


Housing Affordability Burden For U.S. Cities

CFED: Housing Cost Burden on the Rise, Especially Among Renters

Housing Cost Burden - Renters

Why the housing burden stalls America’s economic recovery - FT.com

Los Angeles Housing Burden Highest in Nation - Bloomberg
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Old 06-10-2016, 12:07 PM
 
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Quote:
Originally Posted by Babu617 View Post
Households making less than $35K are cost burdened?!? Get out of town!
That's the mean household income for young workers in Orlando.

Orlando rent increase second highest in the country, study says | Local News - Home
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Old 06-10-2016, 12:26 PM
 
Location: Spring Hill Florida
12,135 posts, read 16,138,172 times
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Quote:
Originally Posted by knowledgeiskey View Post
That's the mean household income for young workers in Orlando.



Orlando rent increase second highest in the country, study says | Local News - Home
"Orlando rent increase second highest in the country"

That does not mean Orlando has the highest rents in the country. It means the INCREASES in the cost of rents ran higher than other places. Orlando is simply catching up with the pack.

Orlando certainly does not have the highest rental rates in the country, nor does it have the highest "rent burden" in the country. Orlando is just an average place in the U.S.

It's interesting that you are trying to point out how miserable Orlando rental life is but in reality it is just another city,

Top 10 priciest U.S. cities to rent an apartment - Page 4 - CBS News

1. San Diego
Median studio apartment: $1,095
Median one-bedroom apartment: $1,445
Median two-bedroom apartment: $1,795

The median rent in San Diego is a few hundred dollars north of the national average, at $1,670 per month. Still, the city was the most affordable in the top 10 in all three categories. It had the least expensive prices for studios as well as for one- and two-bedroom apartments.

2. Seattle
Median studio apartment: $1,210
Median one-bedroom apartment: $1,525
Median two-bedroom apartment: $1,995

Seattle is rapidly becoming one of the nation's most expensive cities, and its rent prices reflect that. The Emerald City's median rent price is $1,718. The city's hippest areas, such as Capitol Hill, are commanding some of the highest prices in the city.


3. Miami
Median studio apartment: $1,319
Median one-bedroom apartment: $1,535
Median two-bedroom apartment: $1,913

Miami's real estate market has made a miraculous turnaround this past year, with prices jumping each month. The rapidly increasing home prices are quickly pricing out first-time homebuyers and causing more renters to stay put, leaving the city with a limited number of rental units available. Median rent prices are $1,742 across the city.

See the link for the other 7 highest rent cities. Orlando is not one of them, yet.
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Old 06-10-2016, 12:52 PM
 
Location: Flawduh
17,210 posts, read 15,404,507 times
Reputation: 23762
Quote:
Originally Posted by knowledgeiskey View Post
That's the mean household income for young workers in Orlando.



[/url]
Quote:
The Census ACS 1-year survey reports that the median household income for the Orlando-Kissimmee-Sanford Florida metro area was $48,270 in 2014, the latest figures available.
http://www.deptofnumbers.com/income/florida/orlando/

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