Broward County is one of the least affordable metro areas in the United States. With an average unit rent of $2,500, a low-income household can afford $919 in monthly rent—creating a gap of $1,584 per month. The current housing crisis not only puts Broward County at a competitive disadvantage in attracting corporate relocations and talent, but it is also a threat to long-term economic sustainability. As housing prices continue to surge and incomes remain stagnant, the risk of homelessness is a reality for many in our community. To learn more about the affordable housing crisis in Broward County, visit the Coordinating Council of Broward's website.
Funding Resources For Affordable Housing
Sadowski Trust Fund
Broward County Affordable Housing Trust Fund
Broward County Affordable Housing Trust Fund
A state-level trust fund that supports affordable housing; however, the state often uses these dollars for purposes outside of housing. There is a stark difference between the tax dollars that Broward has contributed to the State of Florida and the dollars received from the Sadowski Trust Fund allocation to Broward County.
Broward County Affordable Housing Trust Fund
Broward County Affordable Housing Trust Fund
Broward County Affordable Housing Trust Fund
Provides a dedicated fund for the Broward County Commission to use to address the need for affordable housing. The Board of County Commissioners has committed to half of the County’s recaptured tax increment finance (TIF) funding from expiring Community Revitalization Areas (CRA) to fund the Trust Fund.
Incentives for Developers
Broward County Affordable Housing Trust Fund
Incentives for Developers
In December 2022, the Broward County Board of County Commissioners approved a land use policy change that incentivizes developers to construct affordable housing on commercial sites near major roads. When fully implemented, this policy change will result in an estimated $30 to $50 million annually for affordable housing.
Key Affordable Housing Stakeholders
Broward County Housing Finance Authority
Broward County Housing Finance Authority
Broward County Housing Finance Authority
The Housing Finance Authority of Broward issues bonds for developers to finance and develop affordable rental new construction, acquisition, and rehabilitation developments.
Coordinating Council of Broward
Broward County Housing Finance Authority
Broward County Housing Finance Authority
The Coordinating Council of Broward unites government, business, and nonprofit leaders in the advocacy and coordination of health and human services in Broward County.
Florida Housing Finance Corporation
Florida Housing Finance Corporation
Florida Housing Finance Corporation
The Florida Housing Finance Corporation (Florida Housing) increases affordable housing opportunities through well-matched programs that serve the needs of the community.
United Way of Broward County
Florida Housing Finance Corporation
Florida Housing Finance Corporation
United Way of Broward County created Housing United, an affordable housing initiative that will support 2,500 affordable housing units over the next five years.