Housing affordability drops, but it’s not just South Florida feeling the pain

Record home prices and less inventory have made 78% of South Florida’s homes out of reach for households earning between $50,000 and $75,000 annually, according to a recent report from The National Association of Realtors.

Nationally, the group found the portion of the housing market affordable to households in that income bracket has decreased 6% since the pandemic began. Affordability is defined by costing no more than 30% of income on housing.

The Fort Myers and Sarasota housing markets are even less affordable, however. About 85% of the homes there are unaffordable to that middle income bracket, the report found.

– Anne Geggis, Florida Politics