The Florida Housing Coalition and the Home Coalition with generous support from Bank of America, Lake Michigan Credit Union, and Collaboratory, worked together to create the Southwest Florida Regional Housing Report.
Following 10 months of research the final report is now available and includes actionable strategies centered around regional housing data to address Southwest Florida’s housing needs.
“This is the result of a collaborative effort between these Coalitions, the region’s housing professionals and those advocating for housing solutions that make the dream of living and working in Southwest Florida more attainable,” said Tessa LeSage, chief impact officer, Collaboratory. “Special thanks goes to all of the housing professionals and advocates in our region that responded to survey questions and spoke with us individually about the housing ecosystem of the five-county study area. We hope this action plan can drive systemic change and produce fruitful collaborations to build and preserve housing choices in Southwest Florida.”
The Home Coalition is a regional network of cross-sector partners working to ensure that 80% of people in Southwest Florida have access to housing and transportation that costs less than 45% of their income by 2040. By joining forces with stakeholders from various sectors, the Home Coalition is committed to shaping a future where housing and transportation are not barriers to economic wellbeing but pillars of a thriving community in Southwest Florida.
“Access to reasonable housing and the ability to purchase a home are foundational to economic prosperity in Southwest Florida,” said Gerri Moll, president, Bank of America Southwest Florida. “We look forward to seeing how this collaborative effort will meet the needs of the community and help make housing more affordable for all.”
Housing costs in Southwest Florida continue to be a complex issue that affects many households. Rapidly growing population and rising costs continue to contribute to limited housing choices as cost-burden and resulting instability have increased exponentially since 2020 as decades-long underproduction of housing, slowed further by the COVID-19 pandemic, insurance costs, and other market forces led to skyrocketing market rents and purchase prices.
According to Shimberg Center for Housing Studies projections, it is estimated that the region’s population will increase by 294,461 people by 2035 with an accompanying increase of 133,298 households. For the region to keep pace with this expected demand, roughly 13,330 homes would need to be added per annum to the existing housing stock over the next 10 years.
Having housing choices for all members of the community is essential to a thriving economy. This Action Plan aims to address the region’s needs in a way that ensures that people who wish to live in Southwest Florida can do so affordably.
“The Regional Housing Report provides great insight into state of the housing market in Southwest Florida and highlights the critical need for workforce and affordable housing,” said Joseph R. Bonora, president, Catalyst Community Development, LLC. “It was particularly helpful to see which jobs fall into the different AMI categories, as it gives developers a better understanding of who the target audience is when planning affordable and workforce housing projects.”
In addition to goals, trends, gaps and stakeholder engagement, the almost 50-page report includes a five-part action plan for success. The plan focuses on deploying all possible funding sources for regional housing needs; reviewing and reforming zoning and land use regulations to unlock developable land; dedicating public and private land towards the region’s housing goals; forming and sustaining strategic partnerships that generate results; and supporting the people in the community this plan aims to serve.
The full study and action plan can be downloaded by https://www.homecoalitionswfl.com/reports/. To learn more and get involved, call 239-274-5900 or visit https://www.homecoalitionswfl.com/
