Habitat Housing Solutions, Inc., builds affordable housing for families and households making 30-80% of the area median income (AMI) in Palm Beach County as determined annnually by HUD. Currently in Palm Beach County AMI is $67,900. Affordable or Workforce housing is occupied by: low-income families, active duty military, seniors, people with special needs, educators, police, fire-fighters, teachers and nurses.
Palm Beach County's median home price of $327,000 is unaffordable fo 75% of its households. Palm Beach County's median gross rent of $1,900 is out of reach for 80% of renters. About 56% of Palm Beach County's renters are cost burdened, meaning they spend more than 30% of their income on housing. Almost 1/3 are severly cost burdened, meaning they spend more than half of their income on housing.
Our Projects target some of Palm Beach County's most distressed neighborhoods: The Glades, Coleman Park, and the Northwest District.
The health, safety and welfare of Palm Beach County's residents and the strength of our overall economy hinges on an adequate supply of affordable housing for working families, elders and people with disabilities living on fixed incomes.
What does this mean for our workforce?
More than half of them cannot afford to pay their rent, and are paying 50% or more of their income on housing alone. Forget about saving to buy a home. We'll see more homelessness as families are only one paycheck away from financial distress.
What does this mean for employers?
For one, a tough time with recruitment. Employee candidates are continuously turning down job offers to find work in cities with more affordable living options like Tampa or Houston.
What does this mean to education?
The school system is facing a shortage of teachers because the teachers cannot make it on an educator's salary, Palm Beach County fomer Maory Paulette Burdick said.
What does this mean for our County?
Palm Beach County Administrator, Verdenia Baker said that South Florida is losing out to other metropolitan areas because of the high-cost of housing. The county invests in education, but graduates are moving to cities where housing is more affordable.
We work every day to ensure that the American Dream of owning an affordable home isn't slipping away from the residents of Palm Beach County.