District 4 Why care about Affordable Housing? Extremely Cost-Burdened Renters NEARLY RENTAL UNITS ARE NEARLY 5,500 NEEDED TO MEET Upper Eastside THE DEMAND OF Little Haiti RENTERS OF ALL 0% - 30% 6 in 10 31% - 50% 51% - 100% INCOME LEVELS RENTERS IN DISTRICT 4 ARE COST-BURDENED Model City (EXTREMELY LOW - 5 MODERATE INCOMES) NEARLY ENTERS (53% R ) 4 in 10 38%OF RENTERS SPEND Wynwood RENTAL UNITS ARE MORE THAN 50% THEIR Allapattah UNAFFORDABLE TO LOW INCOME ON HOUSING & MODERATE INCOME RENTERS AFFORDABLE 1 Overtown HOUSING Flagami NEARLY Downtown CHALLENGES Little Havana Islands 7 in 10 West Flagler HOMES ARE 3 UNAFFORDABLE TO LOW 22%OF OWNERS SPEND O ) & MODERATE INCOME WN 47% MORE THAN 50% THEIR 2 OWNERS ERS ( INCOME ON HOUSING 4 Coral Way NEARLY Islands NEARLY North Coconut Grove HOMES ARE 3,200 NEEDED TO MEET THE DEMAND OF LOW & MODERATE 4 in 10 INCOME OWNERS HOME OWNERS IN DISTRICT 4 ARE COST-BURDENED South Coconut Grove What does it mean for a resident? Lack of Disposable Income leads to: COST-BURDENED HOUSEHOLDS MAKE DIFFICULT CHOICES BETWEEN FOOD, MEDICAL BILLS, Demographics UTILITIES & OTHER NON-HOUSING EXPENSES TOTAL NUMBER OF RESIDENTS: A TYPICAL RESIDENT IS RACE: RENTERS LIVE PAYCHECK-TO-PAYCHECK AND COULD BE ONE EMERGENCY AWAY FROM White (94%) HOMELESSNESS EMPLOYED IN MANAGEMENT, SALE & OFFICE INDUSTRIES WITH AVERAGE Black/African American (3%) American Indian (0%) SHRINKING CONTRIBUTIONS TO SAVINGS, INVESTMENT OPPORTUNITIES, AND RETIREMENTS 104,688 ANNUAL EARNINGS RANGING FROM Hispanic or Latino Asian (1%) (94%) ACCOUNTS FAMILIES WITH CHILDREN Native Hawaiian (0%) LIVE BELOW POVERTY LEVEL REDUCTION OF COMMUNITY ECONOMIC VITALITY, MAKING AN AREA UNATTRACTIVE FOR $21,600 TO $101,000 Some other race (1%) POTENTIAL EMPLOYEES/EMPLOYERS AND CHALLENGING FOR EMPLOYEES/EMPLOYERS RETAINMENT 2.1% Two or more races (1%).