Central Florida's Growing Affordable Housing Crisis

A recent report highlights the growing divide between incomes and housing costs in the Orlando area, leading many families to commute further and further to find affordable housing.

1 minute read

May 23, 2007, 12:00 PM PDT

By Christian Madera @http://www.twitter.com/cpmadera

"The lack of affordable housing in Orange County is creating a population of commuters. About a quarter of the people who work in the county have to live outside its boundaries because they can't afford rents or mortgages there."

"The report cites median household incomes in the area as a hair higher than $52,000 a year, which could afford maximum rent or a monthly mortgage of about $1,000 to $1,200.

But 2007 median home prices at $250,000 would require a monthly payment of about $2,000 to afford a home."

"To alleviate the problem, the task force recommends: creating a workforce-housing czar; giving developers incentives to build more affordable houses, condos and apartments; and charging commercial developers a fee if they bring in new workers who would need housing."

FULL STORY: Orange task force warns of growing housing crisis

Tuesday, May 22, 2007 in The Orlando Sentinel

Housing Florida

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