Nov 15, 2012 at 7:43 am
With only a couple of meetings to go a Blue Ribbon Commission on Housing in Grand Forks has identified the problem but is still working on solutions. The panel says the cost of housing is escalating beyond what renters can afford and out of the reach of potential home buyers. A report to the commission suggests over 50-percent of Grand Forks renters now spend more than 30-percent of their income on housing. That percentage is higher than the cities of Fargo and Bismarck. At the same time the median home price is climbing as well. As a result the so-called affordability index remains higher in Grand Forks than other regional markets.