An article in the South Florida Business Journal recently highlighted a study that ranked Miami metropolitan area as the least affordable city for moderate-income families to pay for housing and transportation. The study, entitled “Losing Ground”, was conducted by the Center for Housing Policy and the Center for Neighborhood Technology examined the affordability of housing and transportation in major cities.
In Miami, it was found that people of moderate income, making $25,444 to $50,888 per year, spend 72 percent of their income on housing and transportation. This is much higher than the average nationally where moderate-income families spent 59 percent of their income on housing and transportation.
To read the full article or learn more, please click here: http://www.bizjournals.com/southflorida/blog/morning-edition/2012/10/study-miami-area-housing-affordable.html