Revitalization Areas
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<p><font size='3'>Revitalization Areas are HUD-designated geographic areas authorized by Congress under provisions of the National Housing Act intended to promote "revitalization, through expanded homeownership opportunities.” HUD-owned single-family properties located in a Revitalization Areas are eligible for discounted sale through special programs, including the Asset Control Areas (ACA) Program, and the Good Neighbor Next Door (GNND) Program.</font></p>
<p><font size='3'>Revitalization Areas are determined by comparing a block group's median household income and home ownership rate to the respective rates of the surrounding area. If the block group is located in a CBSA Metropolitan area, then the metro area is used. However, if the block group is located in a Non-Metro area, then the state rate is used.</font></p>
<p><font size='3'>This dataset also provides several variables relating to REO, and FHA activity in the block group including:</font></p>
<p style='margin-left:40px;'><font size='3'> - Average REO sales price over the last 12 months;</font></p>
<p style='margin-left:40px;'><font size='3'> - 90-day FHA defaults;</font></p>
<p style='margin-left:40px;'><font size='3'> - 90-day FHA defaults in foreclosure;</font></p>
<p style='margin-left:40px;'><font size='3'> - Active FHA-insured single-family loans;</font></p>
<p style='margin-left:40px;'><font size='3'> - Active REO properties, and;</font></p>
<p style='margin-left:40px;'><font size='3'> - A 2-year history of REO closings.</font></p>
<p><span style='font-family:"Avenir Next W01", "Avenir Next W00", "Avenir Next", Avenir, "Helvetica Neue", Helvetica, Arial, sans-serif; font-size:medium;'>Data for median household income are sourced from the 2012-2016 American Community Survey 5-year Estimates, Table B19013 - Median Household Income in the Past 12 Months (in 2016 inflation-adjusted dollars) and single-family homeownership rates are sourced from the 2012-2016 American Community Survey 5-year Estimates, Table B25032 – Tenure by Units in Structure. Data for HUD single family FHA loans and REO extracted from the Single-Family Data Warehouse in December 2018.</span><br /></p>
<p><font size='3'><br />
To learn more about the HUD FHA Revitalization Areas Program visit: <a href='https://www.hud.gov/program_offices/housing/sfh/reo/abtrevt/' target='_blank' rel='nofollow ugc noopener noreferrer'><b><strong>https://www.hud.gov/program_offices/housing/sfh/reo/abtrevt/</strong></b></a><br /></font><span style='font-family:"Avenir Next W01", "Avenir Next W00", "Avenir Next", Avenir, "Helvetica Neue", sans-serif; font-size:16px;'>For questions about the spatial attribution of this dataset, please reach out to us at </span><a href='mailto:GISHelpdesk@hud.gov' style='color:rgb(0, 97, 155); text-decoration-line:none; font-family:"Avenir Next W01", "Avenir Next W00", "Avenir Next", Avenir, "Helvetica Neue", sans-serif; font-size:16px;' target='_blank' rel='nofollow ugc noopener noreferrer'><b>GISHelpdesk@hud.gov</b></a><span style='font-family:"Avenir Next W01", "Avenir Next W00", "Avenir Next", Avenir, "Helvetica Neue", sans-serif; font-size:16px;'>. </span></p><p><font face='Avenir Next W01, Avenir Next W00, Avenir Next, Avenir, Helvetica Neue, sans-serif'><span style='font-size:16px;'><br /></span></font><font size='3'>
Data Dictionary: </font><a href='https://hud.maps.arcgis.com/sharing/rest/content/items/64623912f1d74310bc2cad2c07c99c74/data' target='_blank' rel='nofollow ugc noopener noreferrer'><b>DD_Revitalization Areas</b></a><font size='3'><br />
Date of Coverage: <b>12/2018</b><br /></font></p>
