Add It Up - House hungry
Number of neighborhoods subjected to Mayor Shirley Franklin’s recent moratorium on “McMansions”: 5
Number of Atlanta homes identified as massively out of scale in a Georgia Tech survey of home facades: 523
Number identified as massively out of scale in Morningside-Lenox Park, one of the five neighborhoods included in the moratorium: 61
Number of neighborhoods with a greater number of out-of-scale homes than Morningside-Lenox Park: 0
Of the 10 most expensive homes for sale in Morningside, the number built in the past two years: 8
Highest-priced of those eight homes, a 5-bath, 5-bedroom brick “cottage”: $1.5 million
Average sale price of a house in Atlanta from January to September 2005: $277,000
Maximum percentage of income that financial advisers say should be spent on a mortgage: 30
Approximate monthly mortgage on a $277,300 home: $1,700
Atlanta’s median monthly household income, before taxes: $4,300
Number of foreclosures in Fulton County last year, the state’s highest: 8,847
Number of states with more foreclosures than Georgia: 5
Sources: City Council, Mayor’s office, Planning and Community Development Dept., Georgia Tech’s “Measuring Scale of Infill Residential Properties,” Ga. Multiple Listing Service, Councilwoman Mary Norwood