Central Florida faces an affordable housing crisis

In Central Florida, many people are having a hard time finding affordable rental housing. Eric McCullough, a 59-year-old man on disability, has been looking for an affordable apartment but had to move in with his daughter due to high costs. He questions what “affordable” means when so many people can't find suitable housing. A recent report shows that close to 900,000 Floridians face similar challenges, with many spending over 30% of their income on rent. The number of affordable rental units in Central Florida is decreasing despite a housing boom. In 2023, the state added over 138,000 new single-family homes and more than 50,500 new apartments. However, many low-income residents still struggle. The average rental cost in the Orlando area is rising. A resident earning the median wage of $45,000 should ideally pay about $1,100 a month for housing, but options at that price are becoming rarer. In Orange County, rental units costing over $1,200 have increased by more than 77,000 while affordable options decreased by about 32,000. New developments often feature expensive units, like The Cannery, where studios start at $1,870 monthly. Many working-class jobs in the area, particularly in tourism and hospitality, do not pay enough to cover these high rents. The rising prices of single-family homes are also impacting renters. Many who used to buy homes are now renting, which increases competition for affordable units. The median home price in Central Florida reached a record $380,000 in December 2024. Despite some housing assistance available from the Orlando Housing Authority, inflation is making it difficult to meet the growing needs for affordable housing. Local officials stress the importance of constructing more affordable housing. Construction costs, particularly for insurance, are rising, making it harder for developers to build low-cost units. Without significant investment in housing solutions, the crisis in Central Florida may worsen, leaving many families without a place to live.