South Florida is facing an affordable housing crisis, as over 50% of households in Miami-Dade County are paying more than 30% of their income toward housing. As local real estate continues to rapidly appreciate in Miami-Dade County, and wages do not increase at the same rate, this problem will only worsen. Meanwhile, our community is losing the affordable housing we currently have at astounding rates, resulting in significant displacement of our workforce, vulnerable residents, and our cultural heritage.

The Miami-Dade County Affordable Housing Preservation Plan recommends prioritized strategies to preserve existing affordable housing, addressing both types of affordable housing at risk of being permanently lost:

1. Properties with publicly-funded subsidies whose affordability restrictions are scheduled to expire within the next 5 years, and
2. “Naturally occurring affordable housing”, known as NOAH, which is housing that is currently priced below market rates but has no public subsidy restrictions that serve to keep those rates low.