A recent report by Redfin reveals that the affordability of housing for teachers is declining — especially in Florida. The average teacher can now only afford 12% of homes available for sale within a reasonable commuting distance to their schools. This is a significant decrease from 17% the previous year and 30% in 2019. Additionally, teachers can afford about 27% of available rentals within the same commuting range. The reason teachers can’t afford homes is mainly due to the housing prices surge during the Pandemic.
Teachers struggling to keep up
The study, which analyzed median teacher salaries in the 50 most populous U.S. metro areas, found that the term “commuting distance” refers to a 20-minute drive during rush hour. One of the main factors contributing to teachers’ struggle with housing affordability is their wages not keeping up with inflation. While the average U.S. public school teacher salary increased by 2% to $66,745 in 2021-2022, when adjusted for inflation, they are actually earning $3,644 less than they did a decade ago.
This mismatch between stagnant teacher salaries and rising housing costs has led many educators to leave the profession, thereby exacerbating the teacher shortage in some regions. The shortage of available homes for sale has further intensified over the past year due to high mortgage rates discouraging homeowners from selling.
Related: Teacher Turned Realtor Takes Housing Education to HGTV
Redfin Senior Economist Sheharyar Bokhari says that the lack of affordable housing is worsening the teacher shortage issue, causing teachers to either rent and miss out on building home equity or seek more financially rewarding careers outside of education.
To address this challenge, some cities are repurposing old buildings into affordable housing for teachers, and the federal government provides homebuying assistance programs for eligible educators. Several U.S. states have also proposed laws to increase teacher pay, though only a few have successfully implemented such measures.
The housing/teacher situation in Florida
Florida dominates the list of places where the fewest rentals are affordable for teachers. In Miami, only 2% of available rentals within a reasonable commuting distance to schools are affordable for teachers. The lowest among the analyzed metros. Other Florida cities follow closely: Fort Lauderdale (4%), Orlando (4%), and West Palm Beach (6%).
Florida ranks 48th in the nation for teacher pay in the 2021-2022 period, with an average salary of $51,230, as reported by the National Education Association. Among U.S. metros. Orlando has the lowest teacher pay, with a median salary of $49,561, showing an 8% decrease from 2021.
Florida has experienced one of the fastest increases in housing costs nationwide, partially due to an influx of remote workers. Governor Ron DeSantis has proposed allocating $1 billion for teacher pay increases, a $200 million increase from the previous year. However, he also signed a bill that imposes restrictions on teacher unions, which play a role in negotiating pay raises.
