Orlando is one of 7 Florida cities that could be headed for a housing crisis
ORLANDO, Fla. - Florida is a U.S. destination many people flock to for its sunny weather, sandy beaches and attractions. With increasing mortgage rates driving up home prices, however, some residents may consider living elsewhere.
GOBankingRates released its study regarding the state's housing market. Based on their research, they believe seven Florida cities are showing signs that could point to a housing crisis.
The City Beautiful topped the list.
GOBankingRates said it analyzed data from the Consumer Financial Protection Bureau, the Consumer Protection Bureau, and RealtyTrac for the largest 200 cities in Florida – in terms of total housing units – and looked at the percentage of mortgages that are between a month to three months delinquent and homeowner and renter vacancy rates to determine their list.
See the full list below and read more here.
1. Orlando, Florida
- Homeowner vacancy rate: 5%
- % of mortgages delinquent 90 days: 0.5%
2. Fort Lauderdale, Florida
- Homeowner vacancy rate: 4.1%
- % of mortgages delinquent 90 days: 0.6%
3. Gainesville, Florida
- Homeowner vacancy rate: 3.6%
- % of mortgages delinquent 90 days: 0.6%
4. Miami, Florida
- Homeowner vacancy rate: 2.2%
- % of mortgages delinquent 90 days: 0.6%
5. Jacksonville, Florida
- Homeowner vacancy rate: 2.0%
- % of mortgages delinquent 90 days: 0.6%
6. Hollywood, Florida
- Homeowner vacancy rate: 1.6%
- % of mortgages delinquent 90 days: 0.6%
7. Pembroke Pines, Florida
- Homeowner vacancy rate: 0.9%
- % of mortgages delinquent 90 days: 0.7%