In the greater Miami area, nearly 60% of renters allocate at least 30% of their income to rent, with about one-third facing significant financial challenges. Additionally, 42% of homeowners with mortgages are also feeling financial pressure.

Average rents for two-bedroom apartments have risen over 21% in the past year. Experts estimate that Miami-Dade needs at least 90,000 new affordable housing units to meet the demand alongside support for homeowners facing rising costs.

This positions the region as one of the most financially pressured areas in the U.S., ...