- October 4, 2024
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Sarasota and Manatee Counties, known for their stunning beaches, vibrant arts scene and growing economic opportunities, are at a crossroads. As these communities attract new businesses and residents, they face a pressing challenge: the need for workforce housing.
Workforce housing, which refers to housing for essential workers — teachers, health care workers, service industry employees, retail employees and others — is becoming increasingly scarce. These professions are the ones who do the work vital to the community but are increasingly priced out of the housing market.
This shortage threatens the region’s long-term sustainability, making workforce housing a critical issue demanding immediate attention. The majority of all new developments in both counties are either market-rate with some attainable housing, or affordable housing with very little workforce housing for working families.
According to local real estate data, the median home price in Sarasota County has surpassed $450,000, while in Manatee County, it is over $400,000 — prices far out of reach for many moderate income workers. Renters are also feeling the squeeze, with rental rates increasing dramatically. This situation has forced many workers to live far from their jobs, resulting in longer commutes, higher transportation costs and a lower quality of life.
When essential workers cannot afford to live near their places of employment, a ripple effect is created throughout the community. Schools face teacher shortages, hospitals struggle to retain staff and businesses experience higher turnover rates. Additionally, the long commutes required by many workers contribute to traffic congestion and environmental degradation, further straining local infrastructure.
According to Sarasota County and U.S. Census data, most working families in Sarasota County earn between $42,241 and $56,320 — 60%-80% of the Area Median Income (AMI). This group represents the true workforce.
Affordable housing developments typically focus on families earning less than $42,240, or below 60% of the AMI, and often provide rental subsidies through programs like Section 8 or Florida Housing Vouchers. However, families within the 61%-80% income bracket earn too much to qualify for these programs but not enough to afford market rents in the area. These families are often referred to as “The Missing Middle.”
Five main challenges contribute to the shortage of workforce housing in Sarasota and Manatee counties. The list includes:
Addressing the workforce housing crisis in Sarasota and Manatee Counties requires a multifaceted approach. Local governments, businesses and community organizations must collaborate to develop and implement solutions that meet the community’s needs. Potential solutions include:
The need for workforce housing in Sarasota and Manatee counties is undeniable. Without a concerted effort to address this issue, the region risks losing the essential workers who are vital to its continued growth and prosperity. By prioritizing workforce housing for the “Missing Middle” and fostering collaboration between public and private sectors, these communities can create a sustainable future where all residents can live, work, and thrive.
Mark Vengroff is managing partner of One Stop Housing and One Stop Development & Construction. He was named one of 15 change-makers by the Business Observer in 2022. In recognition of his philanthropic efforts, the City of Sarasota proclaimed Oct. 10 Mark Vengroff Day.