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10/18/12 - Miami Herald

REPORT: Housing and transportation make Miami least affordable city for moderate income households

BY MARTHA BRANNIGAN
MBRANNIGAN@MIAMIHERALD.COM

Housing and transportation costs consume 72 percent of the income of moderate income households in Miami – the heaviest cost burden of any large U.S. city, according to a study by the Center for Housing Policy and the Center for Neighborhood Technology.

That compares with a national average among the top 25 cities of 59 percent of income for housing and transportation among moderate-income groups, the report said.

The crux of Miami’s problem is the area median income is so low that it is out of sync with its relatively moderate housing and transportation costs, according to the report.

The study looks at households earning 50 percent to 100 percent of an area’s median income, or $25,444 to $50,888 a year, for Miami.

Nationwide, moderate-income households have been losing ground: Since 2000, the combined cost of housing and transportation rose 44 percent in the 25 largest U.S. metropolitan areas, but household income increased only 25 percent, according to the Center for Housing Policy and the Center for Neighborhood Technology.