Study: Majority of renters cost-burdened in South Florida

Posted: 6:53 PM, Oct 12, 2018
Updated: 2018-10-12 22:54:13Z

Spending too much on rent?

You're definitely not alone. South Florida is one of the worst areas in the country for renters according to an Apartment List study.

The study shows nearly 63 percent of renters from Miami-Dade to Palm Beach County pay more than a third of their income on rent.

Not surprising to Jesse Mackall who lives in Boynton Beach.

"Ended up moving in with somebody to cut costs," said Mackall.

Realtor Holly Meyer Lucas broke it down for us.

"The biggest takeaway is that housing, in general, is just in high demand as realtors we gotta make an offer tonight, it's going to be gone tomorrow. Whether you're buying or renting, South Florida is extremely desirable and so people are willing to pay more and jump through hoops to get a rental," said Meyer Lucas.

She says snowbirds play a factor as well.