4
Registered Nurses
13,296
14,942
1,646
12.4%
$32.1
5
Retail Salespersons
24,942
26,484
1,542
6.2%
$11.3
6
Cooks, Restaurant Laborers and Freight, Stock, and Material Movers, Hand Customer Service Representatives Janitors and Cleaners, Except Maids and Housekeeping Cleaners Lawyers
8,044
9,534
1,490
18.5%
$14.0
8,138
9,550
1,412
17.4%
$12.5
15,561
16,948
1,387
8.9%
$15.3
10,100
11,424
1,324
13.1%
$11.4
6,518
7,553
1,035
15.9%
$61.0
7 8 9 10
Source: Florida Department of Economic Opportunity, 2019-2027 Florida Employment Projections.
The occupations of Palm Beach County’s resident workforce are reflective of the County’s industrial or economic base. Since local housing and labor markets are inextricably linked to one another, this level of occupation job growth can only increase the current affordable housing demand and supply shortfall. The COVID-19 pandemic has already resulted in significant job loss in Palm Beach County. The timing and level to which the economy recovers from the pandemic will ultimately determine the County’s future affordable housing demand.
Rapid Decline in the Supply of Affordably-Priced Housing Units Palm Beach County’s existing and future affordable housing demand is not just a production issue. From 2014-2018, Palm Beach County has lost, due to market appreciation, an annual average of 13,419 units affordable to potential owner households earning less than 140% of the median household income ($83,929) and 3,748 units affordable to renters earning less than 120% of the median household income ($50,668). The supply of owner and renter units affordable to households has declined rapidly in both absolute numbers and as a percentage of total housing supply.
Table 5.7: Palm Beach County Owner Occupied Unit Supply Change by Value Housing Units by Value Below $250,000 Above $250,000
2014
2015
2016
2017
2018
230,579
220,785
206,359
192,278
176,904
9,794
14,426
14,081
15,374
148,736
163,177
180,399
199,235
7,554
14,441
17,222
18,836
141,182
Average Unit Change By Year 13,419 14,513
Source: US Census, ACS, 2014-2018 5-Year Estimates; table and graph created by the FIU Metropolitan Center.
51
