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Thursday, March 18, 2021

The average single adult in Orlando doesn't have enough to cover their bills, per report

Posted By on Thu, Mar 18, 2021 at 3:57 PM

click to enlarge PHOTO BY TAXCREDITS.NET VIA FLICKR
  • Photo by TaxCredits.net via Flickr
Single Orlando residents can't fully pay their bills, according to a report published by California-based insurance agency Surety First.

The report ranks single Orlando residents as having the 9th worst monthly discretionary income in the nation. The report noted that the average lone Orlandan doesn't actually have discretionary income. When typical monthly expenses are held up to the median wage, Orlando residents are in the red.



With a median income of $3,097 and monthly expenses topping $3,169, single Orlando residents net –$72 in discretionary income. Married Orlando residents with two children rank 28th worst on the list, with a debt of -$342 left over from a $6,195 income and $6,537 in monthly expenses.

Despite being ranked 10th worst nationally, married Orlando residents are doing much better than their single counterparts, with $2,010 left over after expenses are paid.

For low-income neighborhoods, the report is even more sobering. According to a 2020 report by the City of Orlando, median incomes in Parramore and Holden Heights are more than two times lower than the average Orlando median income. Low-income residents in these neighborhoods spend an average of 131% of their income on transportation and housing.

Twenty-nine percent of Orlando households are rent-burdened, defined as spending at least 30% of their income on rent. Residents in Parramore on average use 44% of their income towards rent, and residents in Holden Heights use 35%.



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