Salaries are not keeping pace with increasing housing costs, so the United Way of Broward County launched “Housing United” to build 2,500 affordable homes in the next five years, the Sun Sentinel is reporting.
Area rents have increased 20% and housing prices have increased 26% over the past year. A Florida International University assessment concludes that just 8% of households can afford to buy a home at the $586,000 median sale price of a home in the area.
The effort has drawn a $10 million donation from one philanthropist and $3 million has been doled out to build 149 homes.
– Anne Geggis, Florida Politics