Florida has nearly 905,000 low-income renters who are cost-burdened, spending more than 40% of their income on housing, according to the University of Florida’s 2025 Statewide Rental Market Study. The report, compiled by UF’s Shimberg Center for Housing Studies, highlights how rapid population growth and a limited housing supply are driving up rent, with median rent rising $481 since 2019 despite the addition of 240,000 multifamily units. Among the findings: 79% of renters live in working households, 39% of cost-burdened renters are 55 or older, and homelessness has increased, with nearly 75,000 individuals and families lacking stable housing. The study warns that more than 33,000 publicly assisted units could lose affordability protections by 2034 without action. The data, used to guide Florida Housing Finance Corp.’s funding decisions, shows affordable housing efforts are not keeping pace with growth, particularly in the state’s largest and fastest-growing counties.