Real Estate and the Relationship to FGCU

This chart is taken from Deborah Halliday, MPA study entitled The public costs of inadequate affordable housing in Lee County, Florida. It analyzes the price range to be able to purchase a house, and then details the career the average homeowner must have to own a home in the area. Concluding, the average salary of a Lee County resident is not enough to afford to live

This chart is also from the Deborah Halliday, MPA study. This is an illustration of the findings from the study in regards to public costs. Resulting, the economic opportunities, transportation infrastructure, education and healthcare indicators lost annually amounts to $249 million

Progress has been made since the Deborah Halliday, MPA in several forms. A few programs Lee County is now involved with are listed below: 

• State Housing Initiatives Partnership (SHIP)
• Local Housing Assistance Plan

        http://lee-county.com/dcd1/AnnualReports/LHAP.pdf

•  Policy Memorandum: Affordable Housing Methodology

            http://lee-county.com/dcd1/Downloads/Documents/Studies_Reports/2005

           AffordableHousingMethodology.pdf

•  The Community Land Trust

 Current Real Estate Values in Lee County, Florida 

In July 2006, the Comparative Market Analysis listed 75 houses that were on the market for $200,000 or less. The average price from this list of homes was $188,500. The average home price in July was $250,000 to $300,000; therefore, it is easy to note that the homes listed for $200,000 or less need significant maintenance (i.e. new roofs, new plumbing).

Current Real Estate Values in Collier County, Florida 

The Florida Housing Data Clearing House stated that the average home price in 2004 was $398,211. The U.S. Department of Housing & Urban Development (HUD) states that in 2006 an average household of four people has a median income of $66,100.  

• The housing market and the median income in Collier County is higher than in Lee County, but both counties still suffer from a lack of affordable housing. The incomes of the people in both counties, in relation to average home prices, are not enough to afford to live in the area. 

Affordable Housing in regards to Florida Gulf Coast University students 

After speaking with Alumni Department and Career Development Services, the following data was compiled. 

The first two charts illustrate the six most FGCU alumni populated areas

 Degrees by county 1997-2005

 Alumni in each state of the U.S. 1997-2005

The following chart illustrates the dominant professional interest groups 

 Degrees awarded by college 1997-2005

The next chart states the 2004 average annual salaries of selected professions for FGCU students 

• The Deborah Halliday, MPA, study stated that the annual income must be $53,811 in 2002 to afford a home in Lee County, Florida. None of these salaries are close to this number in the year 2006. Thus, FGCU students can not afford to live in Lee County, Florida. If these students can not afford to live in Lee County than the can not afford to live in Collier County, Florida either.