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TRENDS
<br />Economic Opportunity Trends
<br />Indian River County is a coastal resort and rural community
<br />where agriculture and tourism have historically beenthe largest'
<br />industries. Today, more than 65,000 people are employed
<br />:within the top: industries of health care and social assistance::
<br />(9,700), retail trade (i3,300),:professional; scientific, and techni-
<br />cal services (6,000), construction (5,300), restaurants:and food
<br />services
<br />(4;300), and education (3,000). The top: employers are
<br />a'
<br />Cleveland Clinic Indian River Hospital, School District of -Indian
<br />River County, Indian River County Govemrrient, Publix Super-:
<br />_
<br />markets; and Piper Aircraft.. Approximately 10 percent of all
<br />,
<br />jobs are in nonprofit corporations, the majority:of which are IRS
<br />4
<br />501(c)(3).:public charities:
<br />-
<br />-- — -
<br />Promising Economic Opportuniity Indicators
<br />•: Rising Median Household Income = Median household ...
<br />More people live in poverty
<br />income has continued to rise over time, now at $72,0,00 per
<br />or • - paycheck away from
<br />year,: Finance and insurance jobs are the highest paid aver-:
<br />aging $132,000 per year, while accommodation and food.:
<br />services are the lowest paid at$28,000 peryear.
<br />Promising Housing Indicators:,:
<br />Concerning Economic Opportunity Indicators
<br />Lower Record of Homelessness -The 2025 Point in Tirrie
<br />• More People in Poverty - While the overall percentage of :
<br />courit:conducted by Treasure Coast Homeless Services Coumw
<br />the population living in povertyhas:remained. at 11 percent,
<br />cilreported a 19 percent decrease inahe number of homeless
<br />the total number of people living in poverty has increased by
<br />individuals from the prior year, and a.15 percent decrease
<br />27 percent. There are more women living in poverty in the .
<br />in the number of "doubled up" individuals (i.e. temporarily
<br />community than men. Black residents represent the highest
<br />staying with family or friends due to economic reasons) from
<br />race/ethnicitysegment of all eo le living to ove at 30
<br />9 p P 9� P rty.
<br />the prior year. The 2025.effort recorded the. lowest number of
<br />pe.rcent, and 58 percent of eo le living.in ove rtyare mar. -.
<br />homeless individualssince the 'PIT count's inception.
<br />ried couples with. children.:.
<br />• Reduced Domestic:Violence =The total reported domestic
<br />• Growing ALICE Population - Otherwise knownas the working
<br />violence.related offensesare at an allotime low, down from .
<br />poor, 30 percent of the adult population fitthe United Way of
<br />1;366 per 100,000 in 2010 to 164 per 100,00Q today.
<br />Indian River County criteria as' "Asset -Limited, Income -Con-
<br />Concerning Housing Indicators
<br />strained, and Employed:'
<br />• Children's Horrielessness .-While the .2025 Point.inTime count
<br />• Too Many: Economically; Disadvantaged Students - Econom-
<br />conducted byTreasure:Coast Homeless Services Council re-
<br />ically disadvantaged students make up 53 percent of the
<br />ported a decline in the numberof homeless children, the num-
<br />student population, compared to 46 percent in: Florida.
<br />ber of students. identified and- reported as:having-experienced
<br />• Low -Wages - It takes a living wage, of at least $64,000 for a
<br />homelessness°at any point d6ring.the°2024-2025 school.year
<br />family of four to survive in our community, while the average
<br />(n=655) Increased by 15 percent.over the prior year and. by 55
<br />annual -wage is $58,000, which is 19 percent lower than Flori- ..:`
<br />percentsince the. 2020-2021 school year..:
<br />da% average wage. Women earn an average of $.0.75 for every:•
<br />More:Evictions:=Since 2020; the eviction: rate has:increased
<br />$1.00 earned by men. Black workers earn an average of $0:48
<br />by 38 percent.
<br />for every $1.00 earned by white workers.
<br />.Excessive Home Ownership Costs = Since. -2020, the median
<br />• Unemployment - 4.7 percent of the population: are. unem-
<br />estirnated residential property value has:increased by30
<br />ployed, compared with 3.7 percent of Florida's population,..=
<br />percent: Twenty-three percentof homeowners are paying 30
<br />percent or more f income for housing expenses
<br />0
<br />Housing Trends ...
<br />• Excessive Renting Costs -.Since 2020,.fair market rent has
<br />Affordable housing is getting harder:to:find in Indian River ...
<br />: increased by 54 percent. More than 50 percent of renters
<br />County. The most adverse outcome of this problem is home=
<br />are paying 30 percent or.more of their income for housing
<br />Iessness. To understand this issue, it helps to have some knowl-
<br />q expenses. :
<br />edge of our community's housing continuum which ranges
<br />• Senior. Isolation = approximately 13,000aeniors live. atone,
<br />from emergency shelter to transitional housing to, community .:
<br />: with 1 out of 4.livirig in poverty: This increases the chances of
<br />housing to:affordable rental housing to market.rental housing to
<br />poor health: that can lead:to loss of independence, hospital
<br />affordable home ownership to market home ownership.
<br />nation, or accidental death.
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