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Community 2 is in a long-term growth trend and has a relative shortage of housing. Low-income people have been forced to move to outlying areas to find affordable housing. All neighborhoods in the city are experiencing strong growth in real estate prices. A community-based advocacy group has come forward demanding that the city allocate funds to stop displacement. The group is not sure what activities to carry out but has access to development expertise through its board of directors. Characteristics of the housing market and typical properties include:
- Lower-priced houses typically sell for approximately $90,000.
- These houses could be rehabilitated to meet standards for about $20,000.
- The typical value after rehabilitation would be $100,000.
- New construction in the City would typically cost $106,000.
- The median area purchase price is $128,000.
- The median income for a family of four is $34,000.
- Typical monthly costs include $70 for taxes and $60 for insurance.
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