Jul 17, 2012 at 12:22 pm
The cost of renting an apartment in Grand Forks is growing faster than the average median income according to a housing study presented to members of the city council last night. Heidi Aggeler of BBC consultants says the city’s vacancy rate is currently around three-percent. Aggeler says between 2000 and 2010 the average cost of rent jumped from 477 dollars per month to 632 dollars per month. At the same time median income climbed a just over one-thousand dollars per year – to 23-thousand-106 dollars. The analysis suggests the city consider making zoning changes…expand the community land trust program…and work with developers to make rent more affordable. The study was initiated by the Grand Forks Housing Authority and funded through the community development block grant program. Grand Forks Mayor Mike Brown has appointed a blue ribbon commission designed to look at city’s housing situation and develop strategies for future growth.