600,000 Bay Area Families Struggle to Make Ends Meet, Study Finds

West Central Florida may have sunshine, blue skies and beaches, but it also has poverty – a lot of it.

That’s according to a new study released by the United Way that sheds light on the Tampa Bay area’s financially struggling population. The report concluded that 600,000 households in the Pinellas, Pasco, Hillsborough, Sarasota, Manatee, DeSoto and Citrus county areas, cannot consistently afford Florida’s cost of living. That adds up to 44 percent of all Bay area households.

The ALICE (Asset Limited, Income Constrained, Employed) Study of Financial Hardship was released Tuesday. It is meant to shed light on the “large population of residents who are motivated and working hard, yet struggle to consistently afford basic living expenses, have little or no savings, and may be one setback away from falling into poverty,” according to a media release about the study.

About 29 percent of the Tampa Bay area’s households fall into the ALICE population. Another 15 percent are within the poverty level. The two numbers combine to hit that 44 percent mark, showing that nearly half of all households struggle to make ends meet.

“We all know ALICE,” said United Way Suncoast CEO, Suzanne McCormick, in the release. “ALICE is the recent college grad, the young family with high child care costs and the underemployed mid-career professional. While ALICE works hard and is vital to our state’s future economic well-being, they face barriers that hinder their ability to get ahead.”

The purpose of the report is to provide insights on the needs that exist so that educational and financial programs can be developed to help those struggling “break free and achieve a better, more secure life,” McCormick said.

How would you help the Bay Area’s struggling families? Share your ideas by commenting below!

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