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By Kerry Smith<\/div><\/div>\n

A comparison of teacher salaries to home values within 20 minutes of work found a high of 18% affordable in Fort Lauderdale and Jacksonville but only 4% in Miami.<\/span><\/span><\/p>\n<\/div>\n

ORLANDO, Fla. \u2013 The average U.S. teacher can afford just 12% of homes for sale within commuting distance of their school, according to a report<\/a> from Redfin. That\u2019s down from 17% last summer and 30% in 2019, before the pandemic homebuying boom drove up housing prices. <\/span><\/span><\/p>\n

In addition, the average teacher can afford just over one-quarter (27%) of available rentals within commuting distance of their school. The study defines \u201ccommuting distance\u201d as a home that can be reached within 20 minutes during rush hour.<\/span><\/span><\/p>\n

In two U.S. cities \u2013 San Jose and San Diego \u2013 no commutable homes are affordable on a local teacher\u2019s median salary. However, three metros had a share above 50%: Detroit, Cleveland and Pittsburgh.<\/span><\/span><\/p>\n

In Florida, a Hometown Heroes program<\/a> \u2013 strongly backed by Florida Realtors\u00ae \u2013 aimed to help teachers and other lower-paying yet vital metro jobs, such as nurses, firefighters, first responders and more. The program now serves a wider audience after 2023 legislative changes. Redfin\u2019s study appears to reinforce the need for workforce housing programs in Florida and the nation.<\/span><\/span><\/p>\n

In a city-by-city breakdown, some Florida metros beat the national average for nearby home affordability, while others fell short. According to study authors, California is the least affordable place for teachers looking to buy a home, while Florida is the least affordable for teachers looking to rent.<\/span><\/span><\/p>\n

Teacher home affordability in Florida metros<\/strong><\/span><\/span><\/p>\n

\n
Fort Lauderdale<\/strong>: 18% of homes within reasonable commuting distance are affordable, a 17 percentage point decline since 2019, with rentals down 4 percentage points over the same timeframe. Median teacher salary: $60,463<\/span><\/span><\/li>\n
Jacksonville<\/strong>: 18% of homes within reasonable commuting distance are affordable, a 41 percentage point drop over the same two years, with 35% of commutable rentals affordable. Median teacher salary: $65,612<\/span><\/span><\/li>\n
Miami<\/strong>: 4% of homes within reasonable commuting distance are affordable, down 13 percentage points over two years, with only 2% of nearby rentals affordable. Median teacher salary: $60,463<\/span><\/span><\/li>\n
Orlando<\/strong>: 5% of homes within reasonable commuting distance are affordable, down 24 percentage points since 2019, with only 4% of nearby rentals affordable. Median teacher salary: $49,561<\/span><\/span><\/li>\n
Tampa<\/strong>: 12% of homes within reasonable commuting distance are affordable, down 44 points in two years, with 13% of nearby rentals affordable. Median teacher salary: $63,365<\/span><\/span><\/li>\n

West Palm Beach<\/strong>: 15% of homes within reasonable commuting distance are affordable, down 19 percentage points in two years, with 6% of nearby rentals affordable. Median teacher salary: $60,463<\/span><\/span><\/li>\n<\/ul>\n
The average U.S. public school teacher salary rose 2% in 2021-2022 from the prior year to $66,745, but when adjusted for inflation, teachers are making $3,644 less than they were a decade ago, according to the National Education Association.<\/span><\/span><\/p>\n
Each U.S. school has an average of 796 homes for sale within commuting distance, down 24% from 2022 and down 46% from 2019.<\/span><\/span><\/p>\n
\u201cThe shortage of affordable homes is exacerbating the shortage of teachers,\u201d says Redfin Senior Economist Sheharyar Bokhari. \u201cMany teachers who can\u2019t afford to buy a house near work are either renting and missing out on the opportunity to build wealth through home equity, or leaving education in search of more lucrative careers.\u201d<\/span><\/span><\/p>\n
\u00a9 2023 Florida Realtors\u00ae<\/span><\/span><\/p>\n<\/div><\/div>\n
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\n \u2715<\/span><\/p>\n
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\n ADVERTISEMENT<\/span> <\/p>\n
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\nAuthor: kerrys<\/p>\n","protected":false},"excerpt":{"rendered":"
By Kerry Smith A comparison of teacher salaries to home values within 20 minutes of work found a high of 18% affordable in Fort Lauderdale and Jacksonville but only 4% in Miami. ORLANDO, Fla. \u2013 The average U.S. teacher can afford just 12% of homes for sale within commuting distance of their school, according to a report from Redfin. That\u2019s down from 17% last summer and 30% in 2019, before the pandemic homebuying boom drove up housing prices. In addition, the average teacher can afford just over one-quarter (27%) of available rentals within commuting distance of their school. The study defines \u201ccommuting distance\u201d as a home that can be reached within 20 minutes during rush hour. In two U.S. cities \u2013 San Jose and San Diego \u2013 no commutable homes are affordable on a local teacher\u2019s median salary. However, three metros had a share above 50%: Detroit, Cleveland and Pittsburgh. In Florida, a Hometown Heroes program \u2013 strongly backed by Florida Realtors\u00ae \u2013 aimed to help teachers and other lower-paying yet vital metro jobs, such as nurses, firefighters, first responders and more. The program now serves a wider audience after 2023 legislative changes. Redfin\u2019s study appears to reinforce the need for workforce housing programs in Florida and the nation. In a city-by-city breakdown, some Florida metros beat the national average for nearby home affordability, while others fell short. According to study authors, California is the least affordable place for teachers looking to buy a home, while Florida is the least affordable for teachers looking to rent. Teacher home affordability in Florida metros Fort Lauderdale: 18% of homes within reasonable commuting distance are affordable, a 17 percentage point decline since 2019, with rentals down 4 percentage points over the same timeframe. Median teacher salary: $60,463 Jacksonville: 18% of homes within reasonable commuting distance are affordable, a 41 percentage point drop over the same two years, with 35% of commutable rentals affordable. Median teacher salary: $65,612 Miami: 4% of homes within reasonable commuting distance are affordable, down 13 percentage points over two years, with only 2% of nearby rentals affordable. Median teacher salary: $60,463 Orlando: 5% of homes within reasonable commuting distance are affordable, down 24 percentage points since 2019, with only 4% of nearby rentals affordable. Median teacher salary: $49,561 Tampa: 12% of homes within reasonable commuting distance are affordable, down 44 points in two years, with 13% of nearby rentals affordable. Median teacher salary: $63,365 West Palm Beach: 15% of homes within reasonable commuting distance are affordable, down 19 percentage points in two years, with 6% of nearby rentals affordable. Median teacher salary: $60,463 The average U.S. public school teacher salary rose 2% in 2021-2022 from the prior year to $66,745, but when adjusted for inflation, teachers are making $3,644 less than they were a decade ago, according to the National Education Association. Each U.S. school has an average of 796 homes for sale within commuting distance, down 24% from 2022 and down 46% from 2019. \u201cThe shortage of affordable homes is exacerbating the shortage of teachers,\u201d says Redfin Senior Economist Sheharyar Bokhari. \u201cMany teachers who can\u2019t afford to buy a house near work are either renting and missing out on the opportunity to build wealth through home equity, or leaving education in search of more lucrative careers.\u201d \u00a9 2023 Florida Realtors\u00ae \u2715 ADVERTISEMENT Go to Source Author: kerrys<\/p>\n","protected":false},"author":4,"featured_media":8401,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts\/8400"}],"collection":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/comments?post=8400"}],"version-history":[{"count":0,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts\/8400\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/media\/8401"}],"wp:attachment":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/media?parent=8400"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/categories?post=8400"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/tags?post=8400"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}