Source: CBS 12 —
SEBASTIAN, Fla. (CBS12) — Over the last year, rental rates on the Treasure Coast and in Palm Beach County have exploded faster than anywhere else in the nation.
Now, the affordable housing crisis is squeezing families like never before.
Nearly two of three renters in Palm Beach, Broward, and Miami-Dade counties are devoting more than 30 percent of their incomes to housing costs, according to a report from the Joint Center for Housing Studies at Harvard University.
The analysis also reveals that more than a third of renters in the region — 304,200 households — are “severely burdened,” spending more than half of their incomes on housing.
A non-profit organization in Vero Beach is no longer watching the current rental crisis in Florida unfold — without acting.
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