Florida’s increased minimum wage is expected to reduce the number of rent-burdened households and severely rent-burdened households in Orlando.
A recent report from Zillow looked at 45 large metro areas where minimum wage was increasing to see how it would impact rent-burdened households, those spending 30% of their income on rent, and severely rent-burdened households, those spending 50% of their income on rent, in each metro.
In Orlando, a minimum-wage worker is expected to spend 10% less of their income on rent next year, and the minimum-wage increase is expected to reduce the share of severely rent-burdened households from 58.2% to 48.2%.
The state’s minimum wage is set to increase by nine cents to $8.65 on Jan. 1 because of a provision tying minimum wage to cost of living. Minimum wage will increase further to $10 an hour on Sept. 30 after Florida voters passed a constitutional amendment to gradually increase minimum wage to $15 by September 2026.
The state’s minimum wage increase is expected to help renters across the state as well. In Tampa, a minimum-wage worker is expected to spend 7.5% less of their income on rent next year. Jacksonville and Miami renters, meanwhile, will spend 10.7% and 10.9% less of their income on rent.