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Real-Life Math -- Solution

Average Housing Cost Index in Your City:

5.5 + 4.1 + 4.4 + 3.5 + 4.2 + 4.2 + 4.2 = 30.1

30.1/7 = 4.3%

The average Housing Cost Index in your city over that 7-year period was 4.3% per year.

Average Housing Cost Index in the Rest of the Country:

2.5 + 2.6+ 2.8 + 2.5 + 2.2 + 2.2 + 2.2 = 17

17/7 = 2.43%

The average Housing Cost Index in the rest of the country over that same period was 2.43% per year.

Housing costs in your city have risen much faster than in the rest of the country since 2009. So you think that there is a definite need for more affordable housing in your city compared to the rest of the country.


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