South Florida faces rising food and housing costs

Residents in South Florida are facing severe financial pressure due to the rising costs of food and housing. A report by the McKinsey Institute for Economic Mobility indicates that 86% of residents reporting budget strain cite food expenses as one of their heaviest burdens. While housing costs remain a massive issue—with average rents for a two-bedroom apartment in Miami increasing nearly 60% between 2019 and 2024—food costs are emerging as a more frequent daily tension for families.

To address housing accessibility, Miami-Dade County is launching a lottery through the HOME program of the Miami-Dade County Economic Advisory Trust. Starting September 1, three families can apply for a total of $150,000 to assist with home down payments for new townhomes in South Dade. The program aims to help overcome the primary barrier to homeownership: the initial capital required to enter the market. The application period runs through September 30 or until 200 eligible applications are received.