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Free «Housing Data Findings» Essay Sample

Mississippi is the longest river in the United States of America. It rises in North Minnesota and flows Southwards to form the borders between the states of Iowa, Minnesota, Missouri, Louisiana and Arkansas on the west and Illinois, Tennessee, Mississippi and Wisconsin to the east.

Housing Data Findings:

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  • Minneapolis, Minnesota: Price range of 360000-499,900 for  a 3 Bed, 2 Bath house
  • Baton Rouge, Louisiana: Price range of 90,000-267,000 dollars for a 3 Bed, 2 Bath house.
  • Jefferson, Missouri: Price range of 57,240-119,900 dollars.
  • City of Iowa: price of about 148,473 dollars.

I would choose to relocate to Louisiana for the following reasons:

  • It has the widest range of prices to choose from.
  • Have the most standard prices among the four cities.
  • It is located along the Mississippi river Delta where there is  bluff upriver which protects the city residents from: hurricanes, flooding and other natural disasters
  • It is a major medical, industrial, petrochemical and research center for the American South.

The reasons why prices vary from one city to the other are:

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First houses' proximity to social amenities matters. The nearer the houses are to schools, highways, entertainment and shopping, the higher the prices. The further the houses are from these amenities, the lower their price.

Secondly, the desirability of the area will affect pricing. Some geographical sites are more desirable than others.

  • For instance houses located within the proximity of major tech companies provide well-paid residents, thereby pushing prices upwards compared to houses built in areas of low economic benefits.
  • Quiet, uneventful neighborhoods are more desirable than high crime areas.

The climate of the place where the houses are built also matters. Many residents crave for residential in areas with conducive climates which eventually increases

 
 
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The prices are affected by demand and supply forces in the following ways: 

If too much development of houses occurs in the city too quickly, the supply will exceed demand thereby bringing prices down. The need demand for housing increases with an increase in population and declines as the population decreases. Therefore, the higher the population, the higher the price. Supply and demand for the houses are as a result of factors such as:

  • the legal treatment of developers in the city,
  • the economic importance of the city, and
  • Availability of adequate land for development.
  • Financial controls and government policies. For instance, taxation of real estates may have either positive or negative effects.

The figure above shows the population statistics of Baton Rouge as stated in the government's website. It is also stated that the average persons per home is 2.90 in Baton. From the table above, the demand for the units required increases as the population increases.

   

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