Rapidly changing urban neighborhoods with the region’s oldest homes and quickest increases in home sale prices.

  • The neighborhoods in this Submarket have experienced, by far, the quickest increases in home prices
  • Highest proportion of renters
  • Second quickest decline in home ownership
  • Greatest decline in proportion of non-white residents
  • Greatest proportion of single-family rental units
Median Home Sale Price (2018)
$164,000
+241.7% since 2013
Home Sale Price Per Sq. Ft (2018)
$130.31 per sq. ft.
+183.1% since 2013
Median Building Area
1,267 sq. ft.
Median Year Built
1953

Data source: ARC analysis of Zillow's ZTRAX home sale transactions, 2013 & 2018. Explore this data further in the Data Explorer

TOP STRATEGIES FOR Submarket 3


Increase Supply

Preserve Affordable Supply

Reduce Housing & Transportation Costs

Expand Capital Resources

Promote Housing Stability

Develop Leadership & Collaboration on Affordability

Preserve Affordable Supply –
Provide Financial Incentives

Provide financial incentives to developers to enable more creative ways to use state/local tax policy and long-range financing in order to preserve existing housing supply.

  • Offer tax incentives (tax exemption or abatement) for periods matching affordability period, low-cost loans and technical assistance to private owners agreeing to maintain affordable units. Resources:

Preserve Affordable Supply –
Create Policy Incentives

Preserve existing housing supply with policy incentives to make it easier and more affordable to protect existing housing units.

Preserve Affordable Supply –
Coordinate Across Agencies and Among Governments

Engage in robust coordination efforts between different levels of government and across various state and local agencies to create, manage, and maintain existing affordable units.

Leverage existing technology platforms to establish a comprehensive affordable housing database, which will track existing publicly funding/supported affordable properties; enable proactive risk analysis and engagement; and track affordable housing pipeline. Use information to identify properties to engage with owners on ways to incentivize and encourage maintaining affordability.  Resources:

Promote Housing Stability –
Prevent Eviction

Implement targeted efforts to prevent eviction.

Promote Housing Stability –
Stabilize Existing Residents

Implement supportive educational programs and financial policies for residents to stabilize their current housing.

Develop Leadership & Collaboration on Affordability –
Build Internal Resources to Address Housing

Expand internal capacity to address housing needs.

Develop Leadership & Collaboration on Affordability –
Promote Creative Collaboration

Collaborate across various industries, sectors, and organizations to create multi-disciplinary approach to provide housing options.