Shimberg Study Reveals Growing Affordable Housing Shortage

Client Alert
April 1 2025

Cover image of the Shimberg Center for Housing Studies 2024 Annual Report The Shimberg Center for Housing Studies has released its annual report for 2024. Palm Beach, Broward, and Miami-Dade Counties continue to have the largest need for affordable housing in the State, followed by Martin, Manatee, and Polk Counties. Overall, the study shows a state-wide deficit of 98,319 units.

Importantly, the Shimberg Study determines whether a taxing authority is eligible to opt-out of the Live Local Act’s “middle market” tax exemption. As a reminder, the Live Local Act created the “middle market” tax exemption which permits qualifying housing developments with 71 or more units to receive a 75% ad valorem tax exemption. If the most recent Shimberg Study determines there is a surplus of affordable housing units in a particular county, taxing authorities within that county are eligible to opt-out of the “middle market” tax exemption.

The results of the 2024 Shimberg Study clearly demonstrate that the need for affordable housing units continues to grow. Last year, taxing authorities within 49 counties were eligible to opt-out of the “middle market” tax exemption program. This year, that number fell to 34 counties.

 

The study in its entirety can be viewed in the full report.

RELATED PEOPLE
Nicholas Noto
Associate
YOU MIGHT ALSO LIKE
Client Alert April 7, 2025
The Florida Housing Finance Corporation (“FHFC”) recently published the 2025 Income Limits and Rent Limits. These figures reflect more than a 9% increase in most jurisdictions’ rent limits applicable to qualifying Live Local Act projects.
Blog April 4, 2025
The Community Redevelopment Act of 1969 authorizes counties and municipalities to create CRAs as a means for redeveloping slums and blighted areas in the community. The Florida Legislature is currently considering a proposed bill (HB 991/SB 1242), which would dramatically limit the impact and operat...
Speaking Engagement April 2, 2025
Javier Aviñó serves as the session speaker for Florida’s Live Local Act: Challenges and Opportunities in Implementation at the U.S. Housing & Community Development Conference in Dallas, Texas.
VIEW MORE