This time of year, many of us are drawn home. We decorate for the season, gather with loved ones around the table, and host out-of-town relatives for a few nights. Home can be welcoming place.
As we look to 2019, we too are welcoming more neighbors home to South Atlanta. This year, we have rehabbed eight homes in the community begun new construction on five. We are also working to dramatically expand our rental portfolio, with plans to reach approximately thirty rental units by the end of 2019. Rental properties provide stability for many families and often prepare them for home ownership or market-rate rental opportunities.
As the rental rates in metro Atlanta continue to rise, there is an increased strain on low-income families to remain in their homes within our target neighborhoods. In 2017, as a part of our strategic plan, FCS decided to significantly increase its rental inventory to serve more low- to moderate-income families. Families in our rental program will pay at or below 30% of their income for rent determined on a sliding scale based on income and family size. On average FCS rental fees are $400 less than the Atlanta average for comparable homes.
We firmly believe, and research confirms, that mixed-income communities are the answer to creating cities where everyone can flourish. Our desire to expand our rental options in South Atlanta stems from a desire to cultivate equitable, mixed-income neighborhoods that are home to a wide variety of neighbors in the heart of Atlanta.
Partner with us to make a lasting impact in Atlanta. Your support creates healthy mixed-income neighborhoods where families can flourish.