Report: Blaine County's Increasing Number of High-Dollar Mortgages 

click to enlarge National Low Income Housing Coalition - NLIHC.ORG/RESEARCH/RARE-OCCURRENCE
  • National Low Income Housing Coalition

A new report on large mortgages in the United States
lists Blaine County in the top 10 among resort counties with home loans above $500,000. The report says more than 10 percent of Blaine County's total mortgages were more than $500.000. 

The Idaho Mountain Express reports the analysis from the National Low Income Housing Coalition indicates 1,585 Blaine County mortgages worth more than half a million dollars—more than 13 percent of all of Blaine County mortgages between 2012 and 2014. The Mountain Express also reports between 2012 and 2013, 19 people worth a total of $198.5 million moved to Blaine County from Los Angeles County, according to data from the Internal Revenue Service. The following year, 24 more people from Los Angeles moved to Blaine County with combined income earnings of $10.4 million. IRS data also indicates a good number of upper-income earners from King County, Washington (including Seattle and Bellevue) moved to Blaine County over a two-year period, bringing with them income earnings of $6.5 million.

Meanwhile, wages for Blaine County's working class are on the decline. The Blaine County Housing Authority reports the county's median income for a household of four fell by 2.3 percent in 2015.

Statewide, the report from the National Low Income Housing Coalition indicates there are 876 mortgages in Idaho that are more than $500,000, less than 1 percent of all state mortgages.
Pin It


Comments are closed.

© 2019 Boise Weekly

Website powered by Foundation