USA - 7 Florida Cities That Could Be Headed For a Housing Crisis
2023-04-07
USA 7 Florida Cities That Could Be Headed For a Housing Crisis
Apr 5, 2023
Source: Gobankingrates.com
Florida seems to be a state that people are always flocking to and never leaving, with its temperate weather, great beaches and lots of excellent attractions. However, even Florida is feeling the results of market forces, which are increasing mortgage rates, driving up home prices, and thus driving out people. In fact, the Florida cities on this list are showing alarming signs that could be pointing toward a housing crisis.
In order to find the Florida cities showing cause for concern, GOBankingRates looked at the largest 200 cities in terms of total housing units and some crucial factors such as the percentage of mortgages that are between 30 and 90+ days delinquent and homeowner and renter vacancy rates. Data was drawn from the Consumer Financial Protection Bureau, the Consumer Protection Bureau, and RealtyTrac. Here are seven most likely to end up with a housing crisis.
7. Pembroke Pines, Florida
• Homeowner vacancy rate: 0.9%
• % of mortgages delinquent 90 days: 0.7%
6. Hollywood, Florida
• Homeowner vacancy rate: 1.6%
• % of mortgages delinquent 90 days: 0.6%
5. Jacksonville, Florida
• Homeowner vacancy rate: 2.0%
• % of mortgages delinquent 90 days: 0.6%
4. Miami, Florida
• Homeowner vacancy rate: 2.2%
• % of mortgages delinquent 90 days: 0.6%
3. Gainesville, Florida
• Homeowner vacancy rate: 3.6%
• % of mortgages delinquent 90 days: 0.6%
2. Fort Lauderdale, Florida
• Homeowner vacancy rate: 4.1%
• % of mortgages delinquent 90 days: 0.6%
1. Orlando, Florida
• Homeowner vacancy rate: 5%
• % of mortgages delinquent 90 days: 0.5%
Apr 5, 2023
Source: Gobankingrates.com
Florida seems to be a state that people are always flocking to and never leaving, with its temperate weather, great beaches and lots of excellent attractions. However, even Florida is feeling the results of market forces, which are increasing mortgage rates, driving up home prices, and thus driving out people. In fact, the Florida cities on this list are showing alarming signs that could be pointing toward a housing crisis.
In order to find the Florida cities showing cause for concern, GOBankingRates looked at the largest 200 cities in terms of total housing units and some crucial factors such as the percentage of mortgages that are between 30 and 90+ days delinquent and homeowner and renter vacancy rates. Data was drawn from the Consumer Financial Protection Bureau, the Consumer Protection Bureau, and RealtyTrac. Here are seven most likely to end up with a housing crisis.
7. Pembroke Pines, Florida
• Homeowner vacancy rate: 0.9%
• % of mortgages delinquent 90 days: 0.7%
6. Hollywood, Florida
• Homeowner vacancy rate: 1.6%
• % of mortgages delinquent 90 days: 0.6%
5. Jacksonville, Florida
• Homeowner vacancy rate: 2.0%
• % of mortgages delinquent 90 days: 0.6%
4. Miami, Florida
• Homeowner vacancy rate: 2.2%
• % of mortgages delinquent 90 days: 0.6%
3. Gainesville, Florida
• Homeowner vacancy rate: 3.6%
• % of mortgages delinquent 90 days: 0.6%
2. Fort Lauderdale, Florida
• Homeowner vacancy rate: 4.1%
• % of mortgages delinquent 90 days: 0.6%
1. Orlando, Florida
• Homeowner vacancy rate: 5%
• % of mortgages delinquent 90 days: 0.5%
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