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Home ownership rates have been below city levels for years. In the Walnut Hill neighborhood ownership had fallen dramatically. It has improved steadily as a result of targeted work by ACTS and Habitat for Humanity. Within the Walnut Hill neighborhood, homeownership of Hmong-American households has risen from 48 in 1990 to 253 in 2005. Across the Making Connections neighborhoods, owner occupancy has increased from 54% in 2002 to 56% in 2005. Housing programs in the Washington Park Planning area added 25 new home owners in that period.
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New housing is being produced at a variety of price-points. A new single family home built by
West End
in 2005 will cost $130,000. 75% of area renters cannot afford this price. A new single family home built with sweat equity and donations by Habitat cost $57,500 in 2005. That home includes a no-interest mortgage. 39% of area renters cannot afford this price.
Because many families do not have the income to qualify as home owners, new construction also includes rental units. 46 of the units under construction in 2005 are rental units; often combined with retail space.
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