Industry News

Planned development changes face of real estate

High earners more common in California communities

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A report on planned developments in California, prepared by the Public Policy Institute of California, found that residents in these communities represent a broad mix of financial and ethnic diversity, contrary to popular perception. Tracy Gordon, a research fellow for the policy institute, said, "We found the population in these communities to be substantially more mixed, particularly with regard to income, than is often portrayed." For example, the study found that about 47 percent of households in suburban planned developments have incomes from $35,000 to $100,000, compared with 48 percent in other suburban neighborhoods. Planned developments do have slightly more households in the middle-income range, the study also found. About 60 percent of planned developments are white, compared with other city neighborhoods in which about 41 percent of residents are white, the institute reported. Planned communities house an above-average percentage of high-income residents. Between 22 pe...