Poll Shows Employers Blame Florida Housing Market for Problems

In a workforce housing survey by Florida International University and the Greater Miami Chamber of Commerce, six in 10 respondents indicated the rising cost of housing in the Miami-Dade County housing market has impacted their ability to recruit employees.

And that’s just the start.

The poll, conducted in early September, found more than three-quarters of the 158 chamber member respondents have had to modify their recruitment methods to offset the increasingly high cost of housing and Florida home loans in the county.

Of respondents, half said the rising cost of housing has impacted their ability to retain existing employees. Yet, more than eight in 10 respondents said they were not willing to offer housing assistance benefits to their workforce.

Part of that may be due to high-level managers might be feeling the pinch, too. Of respondents, 85 percent indicated their organization’s chief executive officer or senior management is concerned about the existing cost of housing in Miami.

Problem with affordable housing

With the problem so widespread, some respondents indicated the bulk of responsibility in addressing the housing affordability crisis in Miami-Dade County rests with county government.

Other respondents said they would like to offer housing assistance benefits to their workforce, but were not financially able. Yet, three in 10 respondents said housing expenses have made it most difficult to recruit at the supervisory/managerial level, causing more than three-quarters of surveyed companies to offer either higher salaries or to pay relocation expenses.

Other answers included:

- Seven in 10 respondents said at least half of their workforce live in locations based solely on housing affordability; they cannot afford a Florida mortgage elsewhere.

- Nearly four in 10 respondents said their employees earning $45,000 a year or less would experience difficulty accessing affordable housing.

- Though more than half of respondents said the rising cost of housing in the South Florida has negatively impacted their ability to retain current employees, more than seven in 10 respondents said they anticipate continued growth within their industry.