ORLANDO, Fla. \u2013 Nearly $400,000\u2014that\u2019s what homes are going for nowadays in Orlando, and the price tag is turning heads. Orlando city leaders voted this week to sell a new round of homes they built as part of a push to keep affordable housing within reach in Parramore. <\/p>\n
The eight new single-family homes are part of Phase 3 of Orlando\u2019s infill housing initiative. This isn\u2019t the first round\u2014the city has already built and sold eight homes on city-owned lots since 2018 during the first two phases.<\/p>\n
\u201cI was lucky enough to be chosen for a lottery to take advantage of this opportunity, and I hope that anyone coming into the community has the same opportunities,\u201d said homeowner Tamara Frazier.<\/p>\n
Frazier bought one of those homes back in 2019 for $205,000 and also received $10,000 in down payment assistance.<\/p>\n
\u201cComparing it to now, just where we are, it makes me wonder if the opportunity will have the same impact,\u201d Frazier said.<\/p>\n
[WATCH: Orlando Mayor Buddy Dyer talks development, growth, affordable housing]<\/p>\n
Now, the price tag looks very different. These new homes are expected to fall between $365,000 and $380,000\u2014right in line with the current market. According to the Orlando Regional Realtor Association, the average home price last month hit $375,000, about $100,000 more than just five years ago.<\/p>\n
\u201cWe\u2019ve had a couple of changes, and additional costs have come up. Our goal was to keep it around the same price we sold Phase 1 and Phase 2 at, but that wasn\u2019t feasible,\u201d said Orlando City Commissioner Shan Rose, who represents District 5.<\/p>\n
Rose, who also lives in one of these homes, says down payment assistance is still available for those who qualify.<\/p>\n
\u201cFirst-time homebuyers, in a typical situation, have to take a training class, get certified, have at least $1,000 for a down payment, and be pre-qualified for a mortgage,\u201d Rose said.<\/p>\n
She also says first responders could receive additional down payment assistance. Commissioner Rose says they plan to hold open houses next month.\u200b <\/p>\n
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