MIAMI – Living in South Florida comes at a cost. High housing costs have forced many people to find new places to live because they can’t afford to buy a home or pay for an increase in rent.
On Tuesday, US Department of Housing and Urban Development Marcia Fudge will make stops in Miami and Fort Lauderdale to meet with local leaders and discuss what the Biden administration is doing to help lower costs.
Over the last five months, the Miami area has been one of the least affordable housing markets in the country. According to realtyhop.com, the median price for a home in Miami reached $625,000 this month.
To help combat the crisis, elected officials have been working with investors to bring more affordable housing to the area.
On Monday, Miami-Dade Mayor Daniella Levine Cava attended the grand opening of a new housing development in downtown Miami. It combines both workforce housing and affordable housing, something the mayor said is needed.
“This project is not only going to provide housing that people can afford, up to 80 percent of the area median income, but it’s catering to the workforce right here that works downtown,” said Levine Cava.
The housing crisis is leaving many desperate for help. That’s why CBS News Miami wants to share your stories to show the crisis you’re in or how you navigated the system. We will highlight these issues and work to get answers and solutions. Send us an email at [email protected].
