18 Families are Home Again

Last week PRG closed on the sale of the 18th previously foreclosed home we’ve rehabbed through the Neighborhood Stabilization Program. That means 18 houses that were vacant are now warm places that families can afford to call home. Who are those families? Here’s a sketch:

• 11% earn less than 50% of the area median income (that’s under about $41,000 for a family of four)
  44% are households earn between 50% and 80% of the area median income (that’s under about $64,000 for a family of four)
• 59% are households of color
• Average household size is 2.5
• Average percent of income spent on housing is 27%, and all spend less than 30% of their income on housing.

By buying homes rehabbed by PRG, each of these families has bought a renovated home that should need no major repairs in the first years of ownership.