November 08, 2019
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New report finds housing still unaffordable for many Portland residents

Troy R. Bennett | BDN
Troy R. Bennett | BDN
A fishing boat steams into Portland harbor with the city skyline behind it in this Nov. 12, 2012, file photo.

Policy changes and public financing have produced more housing in Portland, however, prices remain unaffordable to some city residents.

A report from the city indicates that most construction approved in the last five years is reserved for low-income residents or is a high-end rental property.

The Portland Press Herald reports that housing isn’t being built for young families or low-wage workers.

At-large Councilor Jill Duson said housing is an asset becoming more unachievable for most who live in Portland.

According to a biennial report on Portland’s housing situation, the average median household income is $51,800 and the median home price is $316,000. MaineHousing reports that in order to afford the median home price residents would need a household income of $102,173.

 



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