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Lakeland reports steady infill sales, expanded down-payment aid and new affordable rental pipeline
Summary
Housing staff reported infill-lot sales and construction, expanded down-payment assistance targeting lower-income households, and multiple rental developments (including units for 30% AMI) moving toward lease-up or construction.
City housing staff provided a progress report on local affordable-housing programs, saying the infill land bank has sold 77 lots, 22 homes are under construction and 24 homes have sold; the city is expanding down-payment assistance and several rental projects funded with HOME-ARP are moving toward lease-up or construction.
Why it matters: the updates show active city intervention to increase ownership and subsidized rental supply at lower area median income (AMI) levels amid a tight housing market.
What staff reported
- Market context: Interest rates were reported near 7 percent and median home price for the previous year was about $315,000 (a 1.9% increase). Staff said single-family homes averaged about 55 days on…
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