Homeownership Dips in Salisbury With Tough Economy

Oct 7, 2014

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An assessment of home ownership in Salisbury has found it has fallen by 4 percent over the last four years.

During an overview of Salisbury census data last night the city council was told that the rental market accounted for 66.8 percent of the housing market while homeownership accounted for just over 33 percent.

City Council member Tim Spies says the trend reflects a tough economy.

"It used to be that you would get your feet under you and by the time you were thirty you would have a down payment for a house. But those days are pretty much gone at this point. And, we see a lot of folks, especially with the economic outlook here, that they tend to be in apartments or still live at home. It's difficult."

The census data also showed that poverty in Salisbury has increased over the last four years, up from 20 percent between 2007 and 2009 to 31 percent between 2010 and 2012.

(Tom Hunt contributed to this story.)