Why US considers Miami, Florida ‘epicenter’ of nation’s housing crisis

  • by:
  • Source: NY Post
  • 07/04/2022

Why US considers Miami, Florida ‘epicenter’ of nation’s housing crisis

  • by:
  • Source: NY Post
  • 07/04/2022

The Biden administration says that Miami is the “epicenter” of the country’s housing crisis as the bustling South Florida metropolis has seen a surge in demand for available rental units that are few and far between.

“I decided I was going to Miami, to the epicenter of the housing crisis in this country,” Housing and Urban Development Secretary Marcia Fudge told the Miami Herald during a visit to the city on Tuesday.

The Biden administration is helping a private developer refurbish a public housing complex as part of a $390 million plan that will include subsidized housing for low-income residents as well as rent caps.

The federal government provides the majority of funding for public housing projects in Miami-Dade in the form of Section 8 rental vouchers for low-income tenants.

Miami is one of the most competitive rental markets in the country, according to RentCafe.

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