Education Arts & Community

Number of households that bought homes with purchase assistance

On Target On Target

0

via City Programs
Result for Q3-19

On Target On Target

Education Arts & Community

Number of households that bought homes with purchase assistance

On Target On Target

0

via City Programs
Result for Q3-19

Measure Description

This metric measures the sales of housing units to owner-occupants that resulted from financial assistance provided through one of the City's down payment or purchase assistance programs. The annual goal in FY 2017 was to assist 10 households attain homeownership.

Measure Importance

Homeownership rates are a key indicator of neighborhood stability. Statistics and numerous studies show that homeowners, on average, have greater wealth accumulation and income, higher educational attainment and better health indicators than non-homeowners. Neighborhoods with higher homeownership rates have less crime and higher housing values. Therefore, the promotion of homeownership is of vast importance to neighborhood and City stability efforts.

Measure Chart

Explanation of Performance

The homeownership goals for the City's purchase assistance program were exceeded within the first quarter of the year with demand exceeding available funding. The program provided down-payment assistance to eight home buyers during the first quarter of the fiscal year.  

Status Indicator Definitions
On Target: Meets or exceeds expected performance
Watch: Falls close to expected performance
Below Target: Does not meet expectation; being monitored for improvement
Other Data: Data gathering only, no target

City of West Palm Beach | 401 Clematis Street | West Palm Beach, FL 33401 | 561.822.2222