More families can't afford to live in the Tampa Bay area, a report shows

It’s becoming more expensive to live in the greater Tampa Bay region, a new report from United Way Suncoast shows.

The annual ALICE – Asset Limited, Income Constrained, Employed – update focuses on families who live above the federal poverty level but make less than the basic cost of living.

It looked at families living in Pinellas, Hillsborough, Sarasota, Manatee and DeSoto counties in 2023 and found a family of four needs to make $96,516 just to get by.

Doug Griesenauer, the vice president of community impact for United Way Suncoast, said he hopes the data will be used to inform policymakers, community leaders and employers.

ALSO READ: Florida lawmakers want to lower minimum wage for some workers

“This data reveals what too many of our families already know — that working hard is no longer enough to achieve stability,” Griesenauer said, quoting United Way Suncoast’s CEO.

The report found 47% of Florida households are living below the ALICE threshold.

ALICE Report

/

Screenshot

In 2023, if a family of four made less than $30,000, they were below the national poverty threshold.

But Griesenauer said the federal poverty level is an outdated measure that fails to consider geography or rising costs of goods and services. ALICE data takes these factors into account.

For example, a family of four in Florida needs to make $86,688 to cover minimum living and working costs, or about $10,000 less than a family living in the greater Tampa Bay region.

The number of households in poverty in Florida, based on the federal poverty level, increased 8% between 2010 and 2023. Families who fall within the ALICE threshold increased 31%.

Though the data in the report is nearly two years old, it can help identify trends, Griesenauer said.

"It tells us that we need intervention,” he said. “We need to come together to do work so that our communities can be better off."

In previous years, the data has been used by companies to help the community, he said. For example, Florida Power & Light used the data to adjust policies and the support it offers some families.

“There are businesses that can look at this data and say, ‘Wow, this is how much it actually costs for a family that is working for me to get by. How can I make adjustments to make sure that they can be most successful,’ ” Griesenauer said.

The report compared income to the survival and stability budgets for a family. Griesenauer said the survival budget is a more conservative measure, whereas the stability budget is a more realistic look at what families need.

The report also analyzed needs for a family of four, including two children in child care, and compared them to the median household income for five counties:

• Survival budget: $96,744  
• Stability budget: $145,236 
• Median income: $76,687
• ALICE households: 32% 

• Survival budget: $108,480 
• Stability budget: $145,824
• Median income: $70,768
• ALICE households: 36% 

• Survival budget: $104,424
• Stability budget: $144,072
• Median income: $77,705
• ALICE households: 34% 

• Survival budget: $95,004
• Stability budget: $143,820
• Median income: $79,524
• ALICE households: 31%

• Survival budget: $77,928
• Stability budget: $118,272
• Median income: $50,868
• ALICE households: 40%

Read the full report here.