Here’s How Much Money You Need To Afford The Average Rent In South Florida

Renters in South Florida need to make over $100,000 in order to rent comfortably in the tri-county area, according to a new study. In order to avoid paying more than 30% of their income toward rent, the average household would need to make at least a yearly income of $112,183 to afford the typical rent in South Florida, the study conducted by researchers at Florida Atlantic University, Florida Gulf Coast University and University of Alabama revealed. “So if you make less than $112,000 and you live in the average rental place, you are rent burdened,” said Ken Johnson, real estate economist at Florida Atlantic University.