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Nearly half of Floridians say they have trouble paying their monthly bills and a quarter say they struggle to keep up with their rent or mortgage payments, according to a survey by the University of South Florida.
The survey shows the effects the inflation, which is reaching levels in the United States not seen in decades, is having on the population of the state and a Florida real estate market with sky-high prices, but showing a very low unemployment rate, instead.
Some 77% of the 600 respondents say that the Biden’s inflation—which was 8.5% in March (the highest rate since 1981) especially due to the rise in energy, food, and housing prices—has affected their food expenditures.
In addition, 48% say that inflation makes it harder for them to pay their bills every day, and 24% say they struggle to pay their mortgage or monthly rent.
Housing is a serious problem in Florida as a result of the increase in prices caused by the relocation of thousands of people moving to the state from other parts of the U.S. during the pandemic, and the reactivation of demand by international buyers.
At least one in three Floridians say their income is not enough to pay the rent or buy a home or apartment in the state.
Thirty-six percent of those surveyed by the University of South Florida indicated that they have left the prospect of buying a home for better times.
The USF survey was conducted on a representative sample of 600 Floridians between March 31 and April 12 and has a confidence level of 95% and a margin of error of +/- 4%.
By mid-month it was already known that the price of rental housing in Miami shot up almost 58% in the last year, the largest increase among the 50 main cities in the United States.
The average price of a home in Miami stood at 2,988 dollars, only surpassed by 12 dollars by the Los Angeles metropolitan area, San Diego (3,016) and San Jose (3,075), also in California, according to the real estate agent portal Realtor.com.
In Florida, the unemployment rate stood at 3.2% in March, but even so, people are struggling.
