Miami-Dade’s affordable housing crisis has been plaguing locals for a while, making change absolutely necessary
Earlier this week, in a press release by Miami-Dade County, Mayor Daniella Levine Cava announced that the county is officially dealing with the affordable housing crisis.
The announcement comes in the wake of skyrocketing costs of affordable housing, including rent, which has gone up by an estimated 30% over the past year alone. Despite measures to soften the blow of rent increases, the issue is one that remains pervasive.
Although Miami-Dade County is one of the most thriving communities in the US, becoming a fintech hub, tourist hotspot, and much more, the affordable housing crisis puts a serious dent in the current system. Economic growth is severely stunted, and quality of life is scarcely improving as people try to cope with rising inflation and costs of living, as well as rent increases, an unstable property market, and more.
This is affecting the local community, especially families, who are being forced out of their homes due to exorbitant rental rates.
Mayor Daniella Levine Cava has proposed emergency interventions and some long-term solutions to cope with this crisis that will come into effect almost immediately. There is an executive directive and increased funding of $13million more for the Emergency Rental Assistance Program (ERAP).
ERAP is designed to support eligible residents struggling due to rent hikes all throughout the County.
However, in addition to ERAP, they’re also working to make construction and affordable housing in the County easier and more affordable for builders by providing them with more flexible regulations, alternative funding, and subsidization programs that help regulate rent and sale prices alike.
Mayors from all 34 municipalities in Miami-Dade County will be meeting soon to discuss the issue and propose cohesive solutions that will work on a larger scale as well.
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