Less than 1% of rentals in Miami are affordable for teachers – the lowest share in the nation
For many teachers, finding a place to live that doesn’t break the bank can be nearly impossible, as rising costs of living and meager wage increases strain budgets. This is especially true in Miami, where just 0.2% of rentals are affordable to teachers – down from 10.9% in 2019.
Nationwide, just 47.9% of rentals are affordable to teachers – up from 40.7% last year but much lower than 2019, when 58% of rentals were affordable.
These figures underscore how much rents have outpaced wages, especially since the pandemic. Miami has seen an outsized increase in housing costs since the pandemic, in part because it has been a leading destination for people searching for sunshine and affordability. This effect is beginning to wear off, though, as rent prices stabilize.
But why are so few Miami rentals affordable to teachers? Let’s find out.
Why are Miami rentals unaffordable for teachers?
Miami is so unaffordable for teachers largely because wages are low and rent prices are stubbornly high.
As of the 2023/24 school year, the median wage for Miami public schools teachers is $53,297, the second-lowest wage in the country. Wages actually dropped 11.9% year over year in 2023 – the biggest decline of any major metro.
In general, teachers make the least amount of money in Florida, where Governor Ron DeSantis passed a bill restricting teacher unions – often the deciding factor for a successful bargaining agreement. Teacher unions have since sued. DeSantis has also increased funding for wages, but unions say it’s not enough. States that allow collective bargaining pay educators an average of 18% more.
When it comes to rent prices, the median rent for teachers in Miami is $2,430, down 3.2% from 2023 but far above the nationwide median of $1,647.
Rents have been skyrocketing lately, largely influenced by a years-long surge in migration. Rents ballooned during the pandemic and continued rising through 2022. Some metros saw double-digit increases, pricing out residents and adding to an already high cost of living. However, a recent decline in demand caused by too much supply helped rent prices fall in 2023 through June 2024.
In short, even though rents are dipping in Miami, they are still much too high for most teachers to afford. Rent prices going up and wages going down has led to near-zero affordability.
What’s happening with teacher affordability nationwide?
Nationally, teacher salary growth has actually outpaced rent price growth. The average public school teacher salary in 2023-2024 is ~$72,000, up 3.1% from the year prior, while median asking rents increased just 0.4% over the same time period. Rent growth is slowing or reversing in some parts of the country due to an increase in apartment supply.
Still, many teachers are struggling to find affordable rentals. Rent growth has slowed but remains just $53 below its 2022 record high, and teacher salaries have not kept pace with recent historic inflation. In fact, teacher salaries are actually 5% lower than a decade ago when adjusted for inflation. This trend is more pronounced in Miami. The combination of high rent prices, persistent inflation, and modest wage increases has resulted in record-low affordability.
However, in metros where teachers are paid more, affordability is often slightly better. An exception is in places with exceptionally expensive rentals, like San Jose and New York. These metros have among the lowest number of rentals affordable to teachers, even though median wages reach above $100,000.
Where do we go from here?
Homeownership remains out of reach for many educators, who, unlike many modern workers, don’t have the flexibility to work remotely from somewhere more affordable. Unfortunately, rentals are also quite expensive in many cities.
A few ways to help increase the amount of housing affordable to teachers include building affordable housing near schools, increasing pay, and allowing collective bargaining.
10 Least Affordable Metros for Teachers Looking to Rent
| Metro | Average share of rentals affordable to teachers* | YoY change in share of affordable rentals (ppts)* | Median asking rent | YoY change in median asking rent | Median teacher salary | YoY change in median teacher salary |
| Miami, FL | 0.2% | +0.1 ppts | $2,430 | -3.2% | $53,297 | -11.9% |
| Orlando, FL | 6.7% | +3.6 ppts | $1,772 | -4.4% | $51,611 | +4.1% |
| San Jose, CA | 9.8% | +1.7 ppts | $3,302 | +0.8% | $100,805 | +4.7% |
| Boston, MA | 15.7% | +8.0 ppts | $2,833 | +5.1% | $84,444 | +4.8% |
| New York, NY | 20.4% | +1.9 ppts | $3,047 | +3.2% | $95,320 | +8.6% |
| Denver, CO | 26.7% | +6.2 ppts | $1,827 | -0.3% | $65,204 | +6.4% |
| Nashville, TN | 31.4% | +20.7 ppts | $1,549 | -4.8% | $56,987 | +10.8% |
| San Diego, CA | 34.6% | +33.0 ppts | $2,699 | -12.7% | $96,594 | +15.5% |
| Phoenix, AZ | 36.4% | +13.3 ppts | $1,528 | -4.4% | $57,288 | +7.4% |
| Los Angeles, CA | 37.7% | +11.3 ppts | $2,772 | -4.4% | $96,766 | +5.0% |
Table sorted by average share of rentals affordable to teachers, from low to high
*Within commuting distance of school
Methodology
According to a Redfin analysis of local median teacher salaries and rental listings in commuting distance of public and private PreK-12 schools across 33 major U.S. metropolitan areas, as of July 2024. Rental data only covers apartments listed on Rent. and Redfin.
School location data came from GreatSchools. The 20-minute rush hour commute time was determined for each school using the WalkScore Travel Time API.
Annual teacher wage data came from the U.S. Bureau of Labor Statistics’s Occupational Employment and Wage Statistics program and covers the 2022-2023 school year (valid May 2023), unless otherwise noted.
A listing is considered “affordable” if the monthly payment was estimated to be no more than 30% of the metro area’s median monthly teacher income.
