Housing study: Most can't afford to rent here

PORT CHARLOTTE — Progress toward a deal for the last parcel of Murdock Village may help offset some of the housing needs highlighted in a regional housing study.

Charlotte County's Affordable Housing Advisory Committee discussed the Florida Housing Coalition report's findings, as well as its hopes for affordable housing within the proposed Port Charlotte development.

The Florida Housing Coalition is a nonprofit with a mission to provide knowledge and support on affordable housing solutions. The group has professionals from the industry aimed at improving the availability and quality of housing in Florida.

JUST THE FACTS

The report uses data analysis to focus on two main perspectives within the housing market: demographics and housing stocks.

Jessica Turner with Collaboratory said that one of the biggest takeaways from the report is that only two of Florida's 10 most common occupations pay enough to afford a two-bedroom rental at fair market rate.

No occupations on that list pay enough to afford a median-priced single-family home in all observed markets.

"Understanding the incomes of the area's essential workers and those employed in the 10 most common occupations is key to dispelling bias or prejudice against affordable housing," the report states. "One-person households employed in most essential occupations would be considered low-income."

In Punta Gorda, firefighters make 81% of Charlotte County's AMI, $77,300. Construction laborers make 65%.

In 2023, 80% AMI in Charlotte County was $42,950, according to the Florida Housing Finance Corporation.

Additionally, Southwest Florida's most predominant household size is two-person followed by one-person.

"We're talking about either young people that are just coming up, or older folks that are coming down from having families," Turner said. "We don't really have as big of a need for big homes as, perhaps, we think or have traditionally had."

Within the region, spanning five counties, 146,000 people are considered low-income and cost-burdened households.

In Charlotte County, low-income and cost-burdened households make up 48.3% of the population.

"Renters experience far higher rates of cost burden," the report stated. "Renter households typically earn far less than owner-occupied households, earning on average only 60% of what their counterparts do."

Charlotte County renters have an average income of less than $40,000, while owners have an average income of over $60,000.

"No county in the region has enough affordable and available renter units for households up to 120% AMI," the report said. "The greatest needs for affordable housing exists for households at or below 80% AMI."

Purchasing a house is seemingly unattainable, even with a two-person household earning up to 140% AMI, according to the report. That's a $15,180 deficit between a $90,160 income household with a $270,480 affordability price on a moderately priced home being $285,661 in Charlotte County.

MURDOCK VILLAGE

Affordable housing continues to be a topic of discussion for local government, community members and nonprofits as the data previously mentioned continues to stand out as a problem within Charlotte County, but land dedicated to affordable housing can be a step in the right direction.

County Commissioner Joe Tiseo is also member of AHAC. He shared his excitement and hope for a deal with a developer for a portion of Murdock Village.

Lost Lagoon was a waterpark planned to go in the county's Murdock Village area as a major attraction, but plans fell through.

Kolter Group Acquisitions LLC, entered into an agreement with Lost Lagoon owners to take over its property responsibilities for Murdock Village development.

On Tuesday's Charlotte County Commission meeting, commissioners approved an amended deal that allowed the county to retain 20 acres of “flex space” for particular development — 15 acres recommended for government facilities and 5 acres for affordable housing.

"When they (Kolter) came to me, they asked what I would like to see," Tiseo said. "I knew in our CNA, there was a need for future county land growth."

Tiseo told the group he wanted to see affordable housing as part of the development. Utilities will already be in place.

"All you have to do is drop a meter and tap in," Tiseo said. "They're even bringing fill in up to 18 inches above the road — I mean it's literally shovel ready."

For the affordable housing industry, that could be a game changer since site prep can be the biggest expense.

"I told him that it's got to be more than just the regular stuff," he said. "You got to juice it up, and I want to see a concept plan that has some elements of a walkable, mixed-use community."

One affordable housing conceptual plan showed 72 units with one to three bedroom options for individuals at 60% and below.

Option two showed 65 units with a mix of townhomes and apartments, ranging from one to three bedrooms.

Tiseo said being a AHAC member allowed him to have the knowledge and wherewithal to push for the Lost Lagoon property to have designations for affordable housing.

"It's still shocking that we got what we got," he said. "This is a start, and now we have potential."