City of Cocoa looks to sell property to build affordable housing
BREVARD COUNTY, Fla. — The city of Cocoa has 42 pieces of property it plans to sell to a developer or nonprofit to build affordable housing for working families. Now, it is one of the vacant properties the city hopes to transform into new homes. “We will work with each developer to entice them to get the property and build affordable housing,” City of Cocoa Public Information Officer Samantha Senger said. “Whether that is waiving fees to reduce costs to build the homes to make them more affordable it will depend on each property.”READ: Man critically injured in shooting outside Exploria StadiumThe City of Cocoa said a number of developers have already shown an interest in building affordable housing. Central Florida Spotlight: Affordable Housing (WFTV)Click here to download the free WFTV news and weather apps, click here to download the WFTV Now app for your smart TV and click here to stream Channel 9 Eyewitness News live.wftv.com
Tiny homes may be solution for Orange County housing crisis
Orange County planners outlined a variety of strategies Tuesday for county commissioners to consider as the board searches for answers to boost lagging home construction, considered to be at the root of the region’s deepening housing crisis.
Cities with the most expensive homes in Orlando metro area
Purchasing a home is one of the most important investments there is. More than a place to live, homeownership is an asset with the potential to tremendously rise in value. Given the current state of the real estate market, housing affordability plays a determining role for buyers. As of June 17, 2022, the 30-year fixed mortgage rate sits at 6.25%. As a result of higher mortgage rates across the board, home prices have risen significantly. The typical home value in the United States increased over the last year by +20.9% to $334,141.
Orlando sets real estate records in May for home prices, inventory increases, report shows
Homes hit the Orlando real estate market in May faster than they ever have before, and what they sold for rose the median home price by almost 3% in the area, according to data compiled by the Orlando Regional REALTOR Association.
DeLand to change housing regulations amid affordable housing ‘crisis’
City commissioners in DeLand have been searching for ways to help residents get affordable housing. During their next meeting, they will vote on a proposed ordinance to loosen developing regulations to hopefully bring in more housing options.
Clergy members petition Volusia County to create affordable housing trust fund
Affordable housing A group of clergy members is petitioning the Volusia County council to establish an affordable housing trust fund to help bridge the gap to get people into housing they can afford. (WFTV.com News Staff)VOLUSIA COUNTY, Fla. — A group of clergy members is petitioning the Volusia County council to establish an affordable housing trust fund to help bridge the gap to get people into housing they can afford. Inflation and rising rents are increasing the number of people struggling to find affordable housing in the county and across Central Florida. According to the U.S. Department of Housing and Urban Development, a housing trust fund provides grants for local governments to use to preserve affordable housing for low-income households. READ: ‘This crisis is only going to get worse’: Many struggling to find affordable housing in FloridaCouncil Member Barb Girtman said she does support a housing trust.wftv.com