Laserfiche WebLink
over 50% of their income for housing costs. Among the 5,414 renter households in the <br /> City, 1,154 (21%) pay between 30 and 50% and 1,606 (30%) pay over 50% of their <br /> monthly income for rent. Therefore, 55% of the City's homeowner households and 51% <br /> of its renter households are cost burdened, indicating a continued need for more <br /> affordable housing options. <br /> Income Spent for Housing- Owners <br /> 39% <br /> 0 0-30% 0 30-50% 0 50%+ <br /> Income Spent for Housing- Renters <br /> 3d% <br /> 49% <br /> • <br /> 21% <br /> 00-30% 030-50% 050%+ <br /> The two largest costs borne by American households are housing (32% of income), and <br /> transportation (19% of income). Providing increased affordable and workforce housing <br /> opportunities proximate to transit is therefore key to reducing cost burdens and increasing <br /> economic opportunities for all households. The Center for Neighborhood Technology <br /> has developed an index to gauge the linkage between housing and transportation <br /> affordability for communities throughout the U.S. According to this resource, the average <br /> household in Sunny Isles Beach spends 65% of their income on housing and <br /> transportation costs, and spends $9,455 annually for transportation. Out of a scale of 1 <br /> to 10, in comparison to other neighborhoods in the U.S., Sunny Isles Beach received 4.6 <br /> 11 <br />