Florida’s rental housing stock has grown, but the affordable units have not kept pace. Between 2000 and 2015, Florida’s rental housing supply grew by 859,202 units. Of these, only 133,527 units were affordable to renters with incomes below 60 percent of AMI. The other 725,675 units had rents above the 60 percent AMI affordability threshold. Florida added 560,713 renter households between 2005 and 2015. These include new households formed, households moving to the state, and homeowners shifting to renting. The state lost 130,267 owner households during the same period. The homeownership rate fell from 70 percent in 2005 to 65 percent in 2015. The drop-off in the homeownership rate was particularly sharp for households headed by someone under age 55: from 61 percent in 2005 to 50 percent in 2015. With the number of renters rising and limited affordable housing supply, housing costs hit low income households hard. As Figure 4 shows, most low-income renters were cost burdened in 2015. Some renters with incomes between 60 and 100 percent of AMI also faced housing cost burdens, while few upper-income renters did.