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<br />The U.S. Dept. of Housing and Urban Development provides data on the number <br />of households in 2000 who were paying more than 30% oftheir income for gross <br />housing costs. A total of9,696 of these "cost-burdened" households in the MSA <br />earned less than $32,500. It is notable, however, that the. number of cost burden of <br />workforce households between $32,500 and $52,000 is much less (3,661). This is <br />the workforce sector most likely seeking to buy a house. That portion of the <br />workforce earning less than $32,500 is most likely to seek a less expensive rental <br />housing. <br /> <br />Cost-burdened Households in 2000 <br />Fargo-Moorhead MSA <br /> <br /> <br /><$13,500 to <$19.500 <br /> <br />4,905 <br /> <br />747 <br /> <br />$ I 3.650 to 532.500 <br />$32,500 to $52,000 <br /> <br />3.087 <br />776 <br /> <br />957 <br />1,324 <br /> <br />>$36.400 to >$52,000 <br /> <br />143 <br /> <br />1,418 <br /> <br />TOTALS <br /> <br />8.911 <br /> <br />4,446 <br /> <br />.. Incomes are based on a percentage of the area median income <br />for a 4-person household and adjusted for 2006 which is $65,500. <br />Source: HUD CHAS Data Book 2000-Updated by HUD <br /> <br />The following chart calculates the price and type of housing that comprises the <br />workforce housing market. <br /> <br />TOTAL HOUSEHOlD ANNUAL EARNINGS <br /> <br /> <br />469 S 563 S <br /> <br />HOW Mt.JCH CF AHOUSE CAN lHlSFAMlL Y Bl.J)1 <br />Momhly mcrtgaJ'f payn=.t <br />JOyt<lrr...d7% <br />J%down <br />plus2S%forrax",&insur,nce <br />Ho"MuchHouse? <br /> <br />$ 70.900 $ S5.IOO $ 88,140 <br /> <br />TOTAL HOUSEHOLD ANNUAL EARNINGS <br /> <br />~fsTi9;goo:!!f$ljJilith25PJOill(~$~fI3iJ:ooO'!I~];$r3 i.070/A$^jl3SOCI'~BII <br />"ill-A'iI!"( '<J'I:m~':ii,::,,,,:":IIII:lliJjiill' .h!F'''''JIlLLjl:,:i!;Y:'\ii!;i,'IT11 :IHIHkH' il <br />'J$9'.;I7;t.i'J,i diill$J2:01/hiH!hfi,1 J;'~:2/hrLiliJl$r4.93:~;fr!lU: $16.a.i,i'nrL <br /> <br />Suure", LindJ l\)nlltlly and DJntrr Co_ O,-tull A<.=sment of Wmkforr:e Hrtl<illg for the l'arllo.Moorh...d ND.MN An" <br /> <br /> <br />$ 656 <br /> <br />SHOUlD THEY RENTI <br />Renr.P~)'fMtll <br />pllls2S%i"ortnililies <br />How Much Ap:anmau/HOUK Can du:y RenI1 <br />Mmtet lUte Apa.r1mmt ~ mt median frm <br />Pri_Ut Tar Cz...ut Apuanmt at tht mtdian Ml[ <br /> <br />lBR <br />JBR <br /> <br />3 <br /> <br />Linda S. nunnelly. A,LCI'. <br /> <br />AUgillst 2006 <br />