What we learned

• 80 percent of rental properties in the High Point ghetto are owned by people who live within a 25-mile radius of the properties — a span that encompasses Greensboro, Winston-Salem, Lexington, Thomasville, Trinity and Asheboro.

• Almost half of rental properties are owned by people who live in High Point.

• Landlords who live in the 27262 ZIP code, which includes the affluent neighborhood of Emerywood, own the largest share of rental properties (130). The second largest share of landlords (116) live in 27260, the ZIP code that includes the ghetto itself. The third largest share live in 27265, which covers the prosperous north end of High Point.

• 81 percent of the residents of the ghetto are African American, but African Americans own only 35 percent of the housing stock in the ghetto.

• Rental housing in the High Point ghetto is distributed across a relatively large number of owners: The Hughes family of Jamestown, which owns the largest number of properties (29), controls only 3.6 percent of the single-family homes and duplexes in the ghetto. Thirty-five families control almost a third of the rental properties. The remainder is controlled by individuals and companies that own one to three properties.

4 COMMENTS

  1. Let’s do some math, and maybe this story will make some sense…

    If you owned a house in this neighborhood that was worth what these are ($20,000ish), and you owned them for the purpose of renting them out…ie as a business. Would you spend $20,000 to spruce them up for low-income renters who are likely to destroy them? If you answered “yes” and were willing to eat that cost, how long would it take to recoup? What do these rent for? $400 a month? If so, it would take you 50 months to recoup, and longer when you add other maintenance and taxes onto the cost. So you’re looking at maybe 60 months to break even. No profit…just break even. That’s more than four years.

    What kind of business owner would be willing to engage in the risk and work of running a business for four years and see zero profit?

    You might want to recalculate the scenario with a lower repair value, but trust me…these houses require at least that much to make this neighborhood “high ghetto.”

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