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Analysis Shows Some Buyout Homes On High End

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Jun 27, 2009 11:20 am US/Central

Analysis Shows Some Buyout Homes On High End

FARGO, N.D. (AP) ― An analysis of 310 flood-prone homes in line for government buyouts in the Fargo area shows their average prices are on the higher end.

The Forum says its analysis found that in Fargo, the average value of a buyout home is $212,848, based on city assessment records. The analysis shows that's 58 percent more than the median value of an owner-occupied home listed in the most recent Census survey, figured from 2005 to 2007.

The Forum said the average value of the Cass County buyout homes is $213,020. Clay County's average is $191,457, and Moorhead's is $163,963.

Fargo City Assessor Ben Hushka said the buyout houses often are larger and on larger lots.

County officials say the home prices are not the main factor in how they'll approach buyouts. They say the cost of buying flood-prone properties is cheaper in the long run than protecting them.

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