According to new data released by Zillow, living in paradise is NOT always ea$y.
The real estate database released a new study Thursday, with some interesting statistics:
- Renters in black and Hispanic communities spend 15 percent more of their income on rent than those in white neighborhoods
- The national average of difference between neighborhoods is 15.2 percent, so South Florida is slightly below the average
- Renters in black communities spent about 58 percent of their income on rent in 2016
- Hispanic communities spent about 55 percent of income on rent in 2016
Predominantly white neighborhoods spent 42 percent of income on rent in 2016
Overall, South Florida ranked number six among the nation’s major metropolitan areas, with the widest margin between renters in minority and white neighborhoods. So. Fla. clocked in at number five among metro areas where African-American neighborhoods paid the highest portion of income on rent.
Among Hispanic communities, South Floridians renters had the seventh-highest share of income going toward rent.
The situation is even more predominant than the Forbes report from earlier this year, showing that Miami rents gobble up upwards of 36 percent of renters' income.