The average survival budget for a household in the Tampa Bay and Suncoast region is now around $97,000, according to a new report — leaving many families struggling to make ends meet.
TAMPA BAY, FL – The cost of living in Suncoast and the entirety of Florida has increased, and it seems like issues concerning bipartite ALICE are becoming more complex than before. As highlighted by a report of ALICE household income data from the United Way Suncoast, it was indicated that almost families, or at least economically supported families, are above the poverty line but still struggling to make ends meet.
Due to the economic uplift of the region, some defined groups within the five-counties (DeSoto, Hillsborough, Manatee, Pinellas, and Sarasota) are witnessing an increase in their cost estimate. It is highlighted in the Annual ALICE report that survival budgets for an average household have surpassed previous thresholds and now standing at a staggering $96,516 for families consisting of four members including an infant and a toddler.
The report also focuses on tracking the exacerbating trends of vital household economies running out of savings with an increasing number of essential recurring expenses over time.
“The current situation is dire. Families are increasingly falling below the ALICE line, which indicates that they’re financially ‘strapped’ — and the cost of living rises every year. Doug Griesenauer, vice president of community impact, United Way Suncoast, shared with Patch.” This quote illuminates the attention the issue requires.
ALICE, or “Asset Limited, Income Constrained, Employed” describes people living on a razor-thin budget that barely meets the absolute essentials needed to survive in contemporary society. This includes housing, childcare, food, transportation, basic healthcare, and even a smartphone plan.
In certain areas, the cutoff level has surged past the threshold of $100,000. In Pinellas County, it has risen by 8 percent to $108,480, while in Sarasota County, the figure has increased by 10 percent, reaching $104,424.
Griesenauer hopes the data helps people to understand “the real dollar threshold of what it means to get by” especially when knowing 658,000 households live under the ALICE threshold. That is approximately 30,000 more than the previous year.
“Which is a lot of families,” Griesenauer said. “It’s a massive situation. A lot of people are struggling.”
He pointed out that many families do not have the critical medications and essential care so that they can afford to provide care for other necessary services. “Or kids go to varying child care so they can save a few bucks to afford gas to get to work.”
In other scenarios, families have to forfeit entering the housing market entirely and are forced to relocate away from their communities, or many opt to take on a second job.
*“Our families possess resilience and are capable of solving problems,”* Griesenauer stated. *“However, making ends meet is no longer a walk in the park. It’s a struggle.”*
He wishes the report’s data spurs action and motivates community leaders to assess income eligibility levels for the services they provide to the populations they assist.
“I think this is some sobering data and I really advocate for folks to track their emotions as they go through this. … Griesenauer commented. “What I hope becomes clear for people is the strong desire to do something.”*
