Members Urged to Support Affordable Apartments in Florida
The demand for affordable housing is on the rise and many Floridians struggle to pay for housing. According to the National Multifamily Housing Council and National Apartment Association, Florida will need to add 669,000 new apartment homes by 2030 to keep pace with the state's current demand for apartments.
Florida has a dedicated funding source to build more affordable homes in the form of the Sadowski Affordable Housing Trust Fund, but year after year these funds are swept to pay for other budgeting concerns.
In addition, only 35% of funds from the Sadowski Housing Trust Fund are allocated to apartments, per Florida Statute 420.9075, while 65% goes to homeownership programs. Apartments can provide more housing per square foot at a lower cost than single-family homes. Additionally, apartments can be produced faster and with fewer barriers to entry. Apartments can house more Floridians, create jobs, and provide stable housing.
Please contact your Florida House and Senate members and ask them to take action on affordable housing by fully funding the Sadowski Affordable Housing Trust Fund and to increase funding for affordable apartments.