42% of Monroe County Residents Cannot Afford Basic Living Expenses

New United Way of Florida report reveals 42% percent of local households fail to cover basic needs

 

The United Way of the Florida Keys today announced that 42% of year-round households in Monroe County struggle to pay for basic needs such as housing, child care, food, transportation, health care, and technology according to the 2018 ALICE Report. Statewide 46% of households face similar financial challenges. In Monroe County, the percentage of low-income workers struggling to cover essentials has decreased for the third consecutive study.

“United Way of the Florida Keys was pleased to see that, due to local efforts and a strong economy, progress has been made in our community with the percent of struggling families continuing to decrease from 48% to 46% and now 42% over a 3 year period,” said Leah Stockton, President/CEO. “However, this is based on data that was collected prior to Hurricane Irma. Statistics showing the effects of the storm on struggling residents are not yet available, but this decreasing trend will not likely continue given the level of destruction and economic impacts in our community.”

These struggling residents are Asset Limited, Income Constrained, Employed or ALICE. They are households not earning enough to cover the most basic of needs like food and housing. The ALICE Report analyzes the threshold survival budget of what it truly costs to make ends meet in a local community. This comprehensive study shows a more realistic portrayal of the number of struggling households than simply using the federal poverty limit.

Monroe County again had the most expensive survival threshold budget in Florida at $27,192 for a single adult and $68,916 for a family of four with two young children. These figures represent the bare minimum that is estimated to be needed to survive financially and do not include any assets or savings. The stability budget, meanwhile, was $42,228 for a single adult and $119,628 for the two adult, two young children household. This budget reflects a more secure situation including savings needed to gain financial stability and more generous budget lines for better nutrition, healthcare, et cetera, to achieve an overall better quality of life.

“We started a movement five years ago to raise awareness about these families who work and want to provide for their families,” said United Way of Florida President Ted Ganger. “Through the efforts of our local United Ways and their partners we can develop simple, fiscally conservative solutions that would have an immediate, positive impact on families.”

Other findings include:

  • The biggest driver of the budget in Monroe County is the high cost of housing. Even based on the survival budget’s use of 40% of fair market value for a single efficiency unit, housing accounted for 44% of a single person’s monthly budget at $999.
  • 54% of Florida Keys families with children are considered ALICE or are living below the federal poverty line.
  • State-wide, wages have not increased to compensate for the rising costs of living. In Florida, 67% of jobs pay less than $20 hourly yet $27 per hour is needed to cover the basics costs of living according to the state-wide Florida survival budget.
  • Stock Island has the highest percentage of combined ALICE and poverty level families at 63%, followed by Tavernier (54%) and Marathon (53%). The lowest percentage was North Key Largo at 22%.

“While these latest findings show progress, need in our community remains great particularly following Hurricane Irma. Our ALICE families are the backbone of our community- law enforcement, teachers, postal employees and more,” said Leah Stockton, President/CEO. “At United Way of the Florida Keys, working with our community partner non-profits, we help by keeping food on the table, a roof over their heads and their children in safe, quality childcare. However, community-wide efforts need to continue to address these residents’ many challenges. When we work together, we can all be part of the solution.”

Florida is one of 18 states that have ALICE reports published.  For state or county-level ALICE data or to find county-by-county survival and stability budgets for six family sizes, visit UnitedWayALICE.org/Florida.

 

(See press release for corresponding image for this testimonial):

“One of Bahama Village Music Program’s star students is from one of our most economically strained families. ‘Jade’ is one of two children being raised by a hardworking, single mother who is employed as a home health aide. Every day after school, ‘Jade’ attends BVMP programs. She is a multi-instrumentalist, playing the piano and saxophone, and is always the first to help others with their instruments,” says Katchen Duncan, BVMP Executive Director.

 

“‘Jade’ and her family are very dedicated to her future, but just need a little extra to get by and that is where United Way of Florida Keys comes in. Thanks to UWFK funding, BVMP is able to offer a safe, clean after school environment for students like ‘Jade’ to flourish and realize her full potential.”
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