More Than 60 Percent of Those Living in Fort Lauderdale Are Paying Too Much for Rent | New Times Broward-Palm Beach

Broward News

More Than 60 Percent of Those Living in Fort Lauderdale Are Paying Too Much for Rent

A recent sifting through census data between 2007 and 2014 reveals that, when it comes to the most cost-burdened renters in the country, Fort Lauderdale is pretty screwed. According to Apartment List, 62.5 percent of Fort Lauderdale's renters are cost-burdened, which is up from 2007, when it was at 56.1 percent.

"Nationally, 52 percent of renters are cost-burdened, up from 24 percent in 1960 and 38 percent in 2000, but the numbers vary depending on city and state," says Andrew Woo, who wrote the report.

The study says that the U.S. homeownership rate is, right now, at its lowest since 1967, while the renter population is the highest it's ever been. With that, the share of U.S. renters facing cost burdens has gone up. Rent has steadily risen to the point that it's outpacing overall inflation, according to Woo. 

So, the number of those who are seeing more than 30 percent of their income going to rent has risen throughout the nation. 

Among the highest, according to the study, are Miami, Detroit, and Los Angeles, with more than 60 percent of cost-burdened renters living in those cities. And Fort Lauderdale is right up there with them. 

"Contrary to popular belief, renter cost burdens are not solely a big-city phenomenon," Woo says.

In a separate study earlier this year, Apartment List found that Fort Lauderdale is among the least satisfying places to live in terms of rental satisfaction. According to its survey, Fort Lauderdale residents give the city a D grade for overall renters' city satisfaction. 

Out of 100 cities studied, Fort Lauderdale ranked 86th, just above places like Detroit, the Bronx, and Baltimore, with places like Philadelphia, Jersey City, and Rochester ranked above it.

The study surveyed more than 18,000 renters and found several key conclusions. For example, renters in Fort Lauderdale were not happy with the lack of access to recreational activities. Moreover, only 23 percent of renters in Fort Lauderdale think the economy is on the right track, according to the survey. Fort Lauderdalians surveyed were mostly perturbed by the time they spent commuting to work and schools within the city.