More Affordable Housing Efforts in Palm Beach Aimed at Teachers who Want Florida Mortgages

Good news for potential buyers: more affordable housing in Palm Beach County is on the way.

This is appealing to people such as Walteara Sims, who says it’s hard to imagine buying a new house with her fiance after their wedding next weekend. The couple works for the Palm Beach County School District and is taking college classes to become teachers.

“It’s too much trying to afford a house,” said Sims, who earns $13,955 a year as an activities leader in the after-school program at Citrus Cove Elementary in Boynton Beach and can’t apply for a reasonable Florida mortgage at that salary.

However, district officials are offering new hope for the soon-to-be-newlyweds and other employees who struggle to get out of rentals or even remain in the county: A housing fair this weekend with area developers and financial planners.

The event, today from 10 a.m. to 4 p.m. at Atlantic High School in Delray Beach, will feature new properties offered by about 20 builders, all priced at $375,000 or less, said Sue Walters, human resources specialist.

Representatives from various local, state and federal grant/Florida home mortgage loan programs will provide information about incentives and financial programs aimed at helping workers buy homes, she said. Employees who work for south county municipalities also are invited.

Concerns that soaring home costs could leave middle- and low-income workers priced out of the area prompted county officials this year to make affordable housing more of a priority. The real estate market has since cooled, but the Palm Beach County median home price - the point at which half are higher and half are lower - is $365,600.

That’s above what the county considers affordable for teachers, police officers and young workers.

The County Commission passed rules requiring developers to keep some new homes priced between $164,000 and $304,000. The county created a land trust to acquire property where reduced-price homes could be built.

School district figures show that 284 teachers stated in their May exit interviews they were moving out of the Palm Beach housing market, up from 210 in 2005 and 140 in 2004. District officials say they’ve heard that many teachers find it’s too expensive to live here.

“We realize we must do everything we can for our teachers and staff so they can afford to live and work here,” said Darron Davis, human resources chief for the school district.