Zulmarie Fuentes and Emmanuel “Manny” Pratt-Wade
Photo courtesy of Zulmarie Fuentes
For Zulmarie Fuentes and Emmanuel “Manny” Pratt-Wade, a working couple in their early 20s, rent consumes more than 40% of their combined income — a reality that has reshaped nearly every aspect of their adult lives.
“When you realize that over 40% of your income goes to rent, that’s when working extra stops being a choice,” Pratt-Wade said. “It becomes a necessity.”
In South Florida, rent is no longer just another monthly bill. For many young professionals, it is the expense that dictates how many hours they work, personal time, relationships and whether they can afford to remain in the region at all.
Edward “Ned” Murray, associate director of the Metropolitan Center at Florida International University and a leading expert on South Florida’s housing market, said the pressure young renters feel is reflected in the data.
“The longtime standard is that a household should not pay in excess of 30% of their monthly income on rent,” Murray said. “Renters who pay in excess of 30% are considered ‘cost-burdened.’ Unfortunately, because rents have increased so much, the number of ‘severely cost-burdened’ renters, those who pay in excess of 40% to 50% of their monthly income on rent, has been increasing exponentially.”
According to Murray, the problem is particularly acute in Miami-Dade County.
“According to the latest U.S. Census, 61% of Miami-Dade renters are cost-burdened and 35% severely cost-burdened,” Murray explained.
The consequences extend beyond monthly budgets.
“If more and more renters are becoming severely cost-burdened, it leaves very little income to survive, let alone have a decent quality of life,” Murray said.
For couples like Fuentes and Pratt-Wade, the statistics are not abstract. They reflect a daily reality in which housing costs dictate nearly every financial decision.
Different beginnings, the same pressure
Fuentes and Pratt-Wade grew up with very different housing experiences. Fuentes was raised in rural Puerto Rico, where housing insecurity was common.
“My family lived in wooden houses,” she said. “Light and water were barely there a lot of the time.”
Her family eventually moved to Miami when she was 10 years old. Her parents were able to buy a home, providing long-term stability. Meanwhile, Pratt-Wade grew up in an affluent suburb near a military base in Columbus, Georgia, with access to quality schools and services.
As adults, however, both encountered the same reality: South Florida’s rental market.
After moving in together at 18 years old, the couple rented an apartment, where their housing costs quickly surpassed their expectations. What initially appeared affordable on paper became unsustainable once other expenses were added.
“Rent looks fine until you add groceries, insurance and gas,” Pratt-Wade said. “Then you realize there’s nothing left.”
The math behind the rent burden Emmanuel “Manny” Pratt-Wade and Zulmarie Fuentes Photo courtesy of Zulmarie Fuentes
At one point, the couple’s combined monthly income was approximately $5,500. Their rent alone was about $2,200 per month.
Nearly half of their income went directly to housing, far exceeding the 30% threshold commonly used by housing experts to define affordability.
“Rent is very abusive toward my wallet,” Pratt-Wade said. “And that’s not very fun.”
After rent, utilities and groceries became the hardest expenses to manage, especially since their apartment often housed visiting family members or former roommates.
“We try to make sure everyone is taken care of,” Fuentes said. “That makes groceries even more expensive.”
Entry-level jobs that don’t add up
Both Fuentes and Pratt-Wade work full time. Pratt-Wade, 22, is a personal banker at PNC, typically working weekdays with additional Saturday hours when needed. Fuentes, 21, works intake and scheduling for Humana’s home health division. Despite steady employment, neither of their jobs offer the financial breathing room they expected.
“On paper, entry-level salaries like a $30,000 or $40,000 base look livable,” Pratt-Wade said. “In reality, rent eats it immediately, and you also realize that people making $100,000 are working doubles and haven’t seen their families in months.”
Raises and promotions have failed to keep pace with rising housing costs.
“A one-dollar raise doesn’t change anything,” Pratt-Wade said. “That extra money has to go toward rent, groceries or gas. It always balances out against you.”
As a banker, Pratt-Wade sees the issue repeatedly among clients his age.
“It’s not just us,” he said. “I see it every day. People can’t qualify for homes. Budgets don’t work anymore.”
When side hustles become mandatory
As rent rises, working additional hours or holding multiple jobs has become increasingly common among young renters. While often framed as hustle culture, Fuentes and Pratt-Wade said the reality feels less optional.
“The idea that you work 40 hours and still need another job to survive is ridiculous,” Pratt-Wade said.
Fuentes said the pressure of rent has been the primary source of stress in their relationship.
“We don’t argue unless it’s about money,” she said. “And that’s because rent controls everything.”
Long work hours have limited their time together and delayed financial goals such as saving, traveling or planning for long-term stability.
“We set goals, then rent goes up,” Fuentes said. “And then the goal disappears.”
Trapped between staying and leaving
Like many young renters, the couple has repeatedly discussed leaving South Florida. But relocating requires thousands of dollars upfront, which is money they do not have because so much goes toward rent.
“If it’s too expensive to stay, you want to leave,” Pratt-Wade said. “But if it’s too expensive to leave, you’re stuck.”
Although inflation has slowed nationally, rents in South Florida remain high. Pratt-Wade said he is skeptical that prices will fall.
A widespread problem
Fuentes and Pratt-Wade say their experience reflects a larger crisis facing young professionals entering the workforce.
“This isn’t about not trying hard enough,” Fuentes said. “People are working. They are just not getting ahead.”
For them, affordable housing would mean more than a lower monthly payment; it would mean stability, time and the ability to plan beyond the next rent check.
“Right now,” Pratt-Wade said, “it feels like rent comes first, and life comes after, if there is anything left.”
A message to other young renters
If Fuentes and Pratt-Wade could say one thing to other young professionals trying to make it work in South Florida, it would be this: “You are not alone,” Pratt-Wade said. “Your frustration is valid.”
The Miami Herald is teaming up with FIU Caplin News, along with other local media outlets, to produce a series of stories that put a spotlight on South Florida’s housing crisis.