Market Rate Housing. Rawleigh offers rich historical architecture for market rate, downtown housing. Over the last decade, demand for quality downtown housing has increased nationwide. This has been driven by:
- Baby Boomers: Baby boomers are transitioning from their working/child-rearing years to their retirement/“empty-nester” years and seeking downtown housing that’s walkable to culture, dining, shopping, and recreation.
- Millenials: Millennials are, on average, staying single longer, postponing starting families, and searching for communities that offer urban lifestyle amenities and experiences.
- Changing Housing Market: The housing downturn since 2008/2009 has created a paradigm shift in the way people approach and think about housing choices. It is no longer assumed that large, owner-occupied single-family homes are the best/only housing choice.
WHAT’S THE MARKET IN FREEPORT?
The Freeport area (within 20 miles) is seeing growth of 18-34 year olds and 55+ year olds with incomes that can afford rent / mortgages for market-rate apartments and condos. The City of Freeport Downtown Housing Market Analysis projects a demand of approximately 80 market-rate downtown units in Freeport over a five-year period.
- Focus on housing at “Building B” which is best suited for housing due to its floor plan, column spacing, and large windows.