South Florida housing crisis affects residents

South Florida grapples with housing challenges stemming from affordability issues, rising costs and development pressures.

These articles highlight the difficulties faced by renters and owners alike in this region. In Hollywood, while new apartment buildings rise, affordability remains an ongoing concern, with luxury units outpricing average renters. Condo owners face escalating assessment fees and potential buyouts, as older buildings become targets for redevelopment.

A growing list of condos deemed ineligible for mortgage financing complicates the situation. Meanwhile, South Floridians need to earn significantly more to afford even declining rents, reflecting a persistent affordability gap. And growing luxury developments compound the struggle for economical housing options.

Catch up below.

Soleste Hollywood Blvd at 2001 Hollywood Blvd is pictured hovering among existing buildings on Sunday, Sept. 15, 2024, in Hollywood, Florida, as the city shores up its housing needs with development in its downtown area in an attempt to address the city’s affordable housing needs. By Carl Juste

NO. 1: EVEN AS HOLLYWOOD BUILDS MORE APARTMENTS DOWNTOWN, AFFORDABILITY REMAINS A CONCERN

A look at what is coming and why it might not be enough to ease housing pressure | Published October 5, 2024 | Read Full Story by rhabersham@miamiherald.comRaisa Habersham

North Bay Village, junto a la bahía y muy cerca de la playa de Miami Beach, recibe proyectos residenciales de lujo, que aumentan precios inmobilarios. Un programa de vivienda de la ciudad ayuda a los residentes y trabajadores esenciales a comprar condos, alquilar o pagar servicios públicos atrasados. By MATIAS J. OCNER

NO. 2: IS YOUR CONDO RIPE FOR A BUYOUT? SEVEN SIGNS THAT DEVELOPERS MIGHT TARGET YOUR BUILDING

The Miami Herald spoke with three real estate experts who weighed in on the telltale signs a condominium is ripe for redevelopment. | Published October 4, 2024 | Read Full Story by Rebecca San Juan

File photo of houses in Miramar, where all homeowners take their homestead exemption tax break.

NO. 3: DO YOU OWN A ZOMBIE HOUSE? A VACANT HOME COULD COST YOU, AND YOU MIGHT NOT EVEN KNOW

What to know about the real estate situation. | Published November 12, 2024 | Read Full Story by Lew Sichelman

A view of a resurgent Northeast Second Avenue in the heart of Miami’s Overtown neighborhood in April 2021, with the Plaza at the Lyric apartments at left and a Red Rooster restaurant in the background at right. By Pedro Portal

NO. 4: RENTERS ARE PAYING LESS FOR APARTMENTS IN MIAMI, BUT THERE ARE ISSUES. SEE THE COSTS

Here’s a look at housing costs and ways to navigate the crisis. | Published March 14, 2025 | Read Full Story by Howard Cohen

Condos line the Intracoastal Waterway in Sunny Isles Beach. By MATIAS J. OCNER

NO. 5: ‘PERFECT STORM.’ HUNDREDS OF SOUTH FLORIDA CONDOS NOW ON SECRET MORTGAGE BLACKLIST

The number of Miami-Dade, Broward and Palm Beach condos on the list has more than doubled in just two years. | Published April 4, 2025 | Read Full Story by Andres Viglucci

The summary above was drafted with the help of AI tools and edited by journalists in our News division. All stories listed were reported, written and edited by McClatchy journalists.