The 2025 Rental Market Study conducted by UF Shimberg Center for Housing Studies found that rent for multifamily units in Florida rose by 39 percent between 2019 and 2023, as 1 million households entered the state.
“Florida’s strong population growth has collided with limited housing supply, pushing rents beyond what many families can afford,” said Anne Ray, manager of the Florida Housing Data Clearinghouse at the Shimberg Center.
According to the report, an estimated 904,000 renting households earn less than 60% of the median income and pay more than 40% of their income on housing.
In Flagler County, 4,478 renting households out of 12,000 total renting households–or 37 percent–are in that category. Among the most low-income, cost-burdened renting households in the county, 72 percent are occupied by one or two people. The majority are younger than 54.
The report indicates that in Palm Coast, only 28 to 39 renting units are available per 100 renters whose income is below 60 percent of the area median income, compared to 88 to 102 units for those whose income is 100 percent or above the area median income.
By another measure, in Palm Coast, only 553 units are available in the price range for the 1,680 renter households whose income is 30 percent or below the median area income. That means 1,127 of those households are paying unaffordable rents. When including those at the 40 percent of area median income or below, the deficit grows to 1,619 households.
Flagler County has 889 subsidized rental units, according to the report.
“Florida’s not any different than most places and we saw the extreme rise in rents going back to the pandemic days and things have remained high as production pretty much came to a grinding halt for that period of time,” Florida Housing Coalition CEO Ashon Nesbitt told the Phoenix.
The state added more than 240,000 multifamily units between 2019 and 2023 while median rents rose by almost $500 per month, or 39%, from $1,238 to $1,719, the report found.
Renting households include at least one employed adult in 79% of units. In households occupied by their owners, 67% are working.
“We’re still not producing as quickly as the need is overall,” Nesbitt said, adding that there’s a “great need” for rental options for people making below 80% of the median income.
“Financially, it’s difficult to produce units at that level, and so with the lack of units affordable at that level, the overall lack of supplies, we have high rent costs, and the reduction in that supply is relating to that growth in those that are now becoming homeless,” Nesbitt said.
The study found the largest inflow of residents to the state stretched from St. Johns County to Lee County.
Homelessness on the rise
The report, using Department of Housing and Urban Development and Florida Department of Education data, estimates 29,848 individuals in Florida are homeless, 6,049 of whom are unaccompanied youth.
The report estimates that 41,847 families are doubled up with others or staying in hotels and motels.
The 2025 homelessness numbers represent a 14% increase for individuals and 28% increase for families since the 2022 report.
Nesbitt said that “down the line” there will be more supply as projects drawing on trust funds, the Live Local Act, land-use tools, and property tax exemptions are built.
“When the units that are being produced aren’t necessarily matching where the greatest need is, that’s why we have this growing gap,” Nesbit said.
As conversations ramp up about eliminating property taxes, Nesbitt said he expects people to consider how it will affect low- to-moderate-income homeowners and how it can be done equitably, based on income and other factors.
“Many of the folks that are experiencing that instability are part of our workforce. Most of the folks that this [report] calls out, these are folks that are working jobs and working many of the jobs that power our state’s economy,” Nesbitt said.
Gov. Ron DeSantis has said that voters will be able to decide whether they want to pay property taxes or not during the 2026 election. He said his office is researching how it can be done.
“The demand for affordable housing is not new to most households in Florida. As inflation and cost of living continue to increase, the cost of housing and other necessary basic needs of individuals continue to be a financial challenge,” Florida TaxWatch CEO Dominic Calabro said in an update about the Live Local Act.
The Live Local Act was a 2023 measure that gave tax breaks to developers creating multifamily residential properties for people making around or below the median income.
TaxWatch recommended the Legislature create tax credits for building homes affordable for “middle income” families, credits to adapt historic properties, and a low-income housing tax credit for rental properties to augment federal credits.
The Florida Policy Institute advocated for restoration, too.
“It is typically cheaper to rehabilitate a unit or building than to construct one from scratch. Including rehabilitation and improvement costs in the tax exemptions would increase and maintain the supply of affordable housing, and support climate resilience, respectively,” FPI said in a report released during the last legislative session.
A bill, SB 184, that would have required local governments to create local rules allowing accessory dwelling units, or granny flats, died this session.
–Jay Waagmeester, Florida Phoenix and FlaglerLive
Mothersworry says
If these numbers are accurate, how about attracting industry that pays a living wage?
Ray W. says
According to an article published by Alternet, should a finding by the nonpartisan Congressional Budget Office come to pass, some 14.2 million Americans will lose health care coverage over the next decade. That figure, when divided by 435, the number of seats in the House, will result in 33,000 people in each district losing health care coverage. Every district will see a rise in the number of uninsured, some less than the average and some more than the average.
Per the reporter, according to a study derived from the CBO figures, Rep. Randy Fine (R-Fla.) will see the number of uninsured in his district rise by 54,000.
Make of this what you will.
Ray W. says
A Markets Insider reporter wrote about how “affordability woes” are behind a homeowner population decline “for the first time in nearly a decade, according to a report issued by Redfin. The report was based on second quarter 2025 data released by the US Census Bureau.
According to the story, 2016 saw the most recent decline in homeowner population.
In the story, the reporter informed that, year-over-year, according to the Census Bureau data from the same second quarter, the number of “renting households” rose by 2.6%.
Chen Zhao, Redfin’s economics research head, said that “affordability issues” and “uncertainty lingering over the economy” are factors relevant to the contraction. “People are also getting married and starting families later, which means they’re buying homes later — another factor that may be at play”, added the economist.
The reporter added that the median price of today’s American homes is up 29.5% over the past five years, to $410,800 in the second quarter. And, “active existing home inventory” was 1.5 million homes at the end of July, up from an inventory of 1.1 million homes last December. And, in May the number of sellers was 34% higher than the number of buyers, according to a different Redfin study.
Make of this what you will.
Pogo says
@Better later than never
… comes now the liberal justice warriors to agree it’s a shame, add inanities about the lack of education, the stunted world view from lack of possession of a passport, etc., among the undeserving wretches, blah, blah, and blah; and like night follows day: rote recitation by reptilian libertarians, and other sociopaths, of the canonical scriptures of capitalism:
https://www.google.com/search?=canonical+scriptures+of+capitalism
…and Platonic fantasies concerning supply and demand:
https://www.google.com/search?q=Platonic+fantasies+concerning+supply+and+demand
And so it goes, the clicks will be counted, the morgue will document the fate of all, and all concerned too.
But wait — what is this?!
https://www.google.com/search?q=apartment+price+fixing+software
And this
https://www.google.com/search?q=ftc+apartment+price+fixing
And so on…
Shark says
Not too many high paying jobs at pizza joints or storage facilities.
Atwp says
Who should we blame, the Republicans or people moving here? Regardless the situation is sad, am sure it will get worse.
Housing Advocate says
Allowing Accessory Dwelling Units (ADUs) is a known relief valve for suburban sprawl. With the massive spread of single-family neighborhoods here in Palm Coast, we need to look at options that diversify housing without erasing the community’s character.
At the same time, we can’t ignore the pressures homeowners already face. Rising insurance costs, along with requirements for new roofs and water heaters, create heavy financial burdens. Without help, some homeowners could lose the very homes we are trying to preserve, and they may find no affordable path to replacement or rental.
Palm Coast has limited options as it grows. Protecting our single-family housing stock is critical, but we also need to create new rental opportunities. ADUs offer a practical path: new homes could include studio apartments, while existing homes could be retrofitted for renters, family members, or caretakers. This would allow us to ease housing pressures, support workers at all levels, and still maintain the suburban feel people value.
ADU’s would allow new homes to be built with studio apartments inside them, current homes to be retrofitted to allow them for caretakers, renters, etc.
Fedup says
California, here we come. Get ready for the biggest surge of homeless in the state’s history. What’s wrong with this picture?
Just say'n says
I want to live in the hammock but can’t afford it.I want a BMW but I can’t afford it.I want a boat to go fishing with but I can afford it.The reasons for the problem I have is my lack of wanting to participate in my education when I was young. I made terrible discussions,did drugs,abused alcohol and in general probably not a good person…….but I never stopped working EVER!America is full of grinders like me and they managed to keep a roof over there heads and food in there belly. Started in a crappy double wide trailer in a very rural place to a very nice house in a great neighborhood and pay a ton of taxes.If you can’t afford to live in palm coast mabey you shouldn’t live in palm coast and mabey Orlando or Jacksonville is a better choice for you with all the tax base that can support you.No busses here to move you,no good paying jobs to support you and to overwhelmed by folks who destroyed there former state and moved here and these are the same folks that say “You have to….
…..)fill in the blank. Again I want to live in the hammock but I can’t afford!
JWittrock says
My homeowner’s Insurance has increased more than 39% in 4 years. I’m paying almost as much in Property taxes and Insurance as I’m paying towards Principal and Interest on my Mortgage. The position is becoming untenable for a lot of people other than renters.
Fight the Reich says
Republicans plan… – do nothing that helps anyone. Blame Joe Biden . Create sideshow for distraction. Already stole over 12 trillion for a couple hundred extremely rich people.
Every republican supports child rape and terrorism!!! Republican voters caused your prices to increase. Republican voters caused your energy prices to increase. Republican voters took away women’s rights. Republican voters defunded public schools, republican voters send brown people to concentration camps, republican voters stole 10 trillion from programs that help humans to gave to the richest humans on earth. Republican voters criminalize poverty! Burn it down! Flags and corporations have more rights than actual people. Funny how Christians basically willed the Antichrist into existence and voted for him. Sad child rape should be a disqualifying action from making public policy but republicans prefer it, endorse it, and protect it!
Haha faux news pundits in charge of agencies like the epa and cdc is just evil and laughably retarded! Economy went boom haha! Tanked like a rump property at tax time! These Fascist will loose just a matter of time and number of human lives it will cost.
Land of no turn signals says says
Ahhhh, Two $7 Starbuck coffee’s a day plus tip Seven day’s a week?Put that $200 towards your rent.
T says
All this winning lmao maga = morons are governing America
Deborah Coffey says
Who owns these large apartment complexes and fixes the rents on them year after year?
Paul kulha says
The five Commissioners led by Andy Dance Are not interested in anything but creating Kickbacks It’s all about creating Kickbacks like the environmentally sensitive fund Where he just followed two million to the Marlow family When it was only appraised at 900 000 why would someone do that It’s all about creating kickbacks Donald Trump is the master of it You’re threaten somebody until they pay up They just did it on the 6 000 homes they canceled it two weeks later they paid up The game is on again It’s so obvious that it’s all about creating Kickbacks That way you can’t really get caught can you
Paul kulha says
You can thank Andy dance in the commissioners typical Behavior create kickbacks the environmentally sensitive fund is all about getting a kickback your funnel 2 million dollars to the Marlo family when it’s appraised for 900,000 why would someone do that it’s all about creating Kickbacks it’s not about a sidewalk in the mondex it’s not about safe roads that are falling apart the county is run by narcissist you can see it with the roads no money for the people just create the Kickbacks and the scams go Andy dance you scumbag
Terminate tariffs says
How about require a living wage. Companies won’t do anything unless they are forced to. R cons “Right to work” just allowed them to terminate people for no reason without penalty. Republicans also blocked minimum wage increases over 30 times. Sabatoged the unemployment program. Criminalize poverty. Burn this fascist dumpster down with your pedo leaders and policies that only benefit a few rich whites. Freedom died when statuses were revoked so brown people could be captured by masked Gestapo! People voted for shit the bed and got it! Some of these cockroaches should be exterminated if it’s not already too late. As we learned from Germany right wing extremism is extremely bad. I’m still taking my over on 80 plus million global deaths before this Reich is defeated! With Christian support they already starved the first million humans to death! Next pandemic we should just call it “woke” so the republicans don’t take the vaccines and they die in droves as they blame inclusion. Wouldn’t that be great?! Either way The pedo and their policies got to go!
Breaking news :any lifestyle is no longer affordable for the under 50 crowd. Forced price increases and bad policy benefitting the select few eliminated most people’s ability to sustain and support themselves or a family. people dont’t “earn” billions of dollars. There are hungry families here today as corporations like Amazon and their owners who have private space races pay no taxes.
If elections aren’t fair why have them? R cons are fraudsters so they likely manipulated numbers to protect the tech bros billions in investment’s! They want a ROI even if means they have to live in a bunker !
Better bend over or form a very well armed militia !
Of course they fid says
Cant wait for the Florida audit to hit Flagler county. It will be fun to watch! We will see how this town wastes money and resources, then blames everyone else. But hey, as long as they got rich off our backs! Towns a joke, keep taking money from out of state entities, and making us pay for your gross decisions! Busted! Town is too small for the developments your allowing. Stop already! Dont need a bigger town, what we need is a sense of community, something long forgot about. Keep raising the prices, karma will get you, swift, and loudly, i hope. The towns sense of arrogance is shifting to your small businesses. Many will go bye bye, and i will gladly show you the door. Flagler, its coming, and ooooh what a day it will be.
Laurel says
Florida simply cannot house the world, yet developers, real estate people, the Chamber of Commerce and the tourist industry will tell you otherwise. Now remember, you can only water your lawns on Tuesdays and Thursdays between the hours of…
Our famous orange groves are almost all gone. Subdivisions now.
What blows me away, is people move here and gripe there aren’t enough jobs! What the hell are y’all thinking? Why would you move somewhere that doesn’t have enough jobs? You planned this? Hey, there’s no jobs in Palm Coast, let’s move there! Jacksonville is the largest city in Florida, it’s nearby, and the odds of getting a job there is much better, ya know?
Speaking of Jacksonville, what is really interesting is that it is 100 times friendlier than Palm Coast. The people there are far more considerate, and polite. Each time I go there, it is proven to me. Doors are always held open, people smile, people jump out of the way and usher you in, it’s just amazing. Some southern charm left, if you can handle the traffic. Here, not so much. Oh, and it has jobs, and a younger population, so, well, if you drop the door, stay here and complain about the lack of jobs, if you can handle the traffic.
The match boxes will continue to be built in flood zones. Investment groups will buy them up and fix pricing.
So it goes on and on.
Ken says
Y’all said that Flagler County is Trump country,, keep voting for stupidity over smartness.
T says
Good thing inflation is down lmao