Builder Blog

Twelve homes in Gary, Indiana, to be sold for $1 each


What if you could buy a home for $1?

Twelve people from the city of Gary, Ind., will soon get the chance as part of an innovative approach to stabilize a struggling neighborhood in the University Park section. The city purchased the homes at county tax sales after the owners were unable to pay property taxes.

More than 400 Gary residents expressed interested in purchasing the dollar homes when the program was announced in June. However, only 25 people met guidelines set forth by the city, which requires buyers to:

  • Have lived in Gary for at least six months
  • Have $1,000 in savings
  • Earn at least 80 percent of the median annual income of $35,250 in the area
  • Demonstrate that they have the financial ability to rehabilitate the home

According to CNN Money, “The program is open only to those who do not currently own a home, and they must occupy the house for five years before they assume full ownership. If they leave before that, they forfeit everything.”

We admire the city’s creative approach to rescuing a declining neighborhood. If the program succeeds, it may be considered to stabilize other at-risk neighborhoods around the country.

Share this Article

Categories: housing

Add a Comment

This site is not an official Marvin customer service forum. We are unable to discuss specific customer concerns in this space, so if you have a question or need support, please visit our Contact page. All comments will be moderated to help keep out spam, profanity and other inappropriate material. We'll work to make sure your comment is posted as soon as possible, but please forgive us for any delays.

Please leave these two fields as-is:


Welcome to the Builder Blog

We're here to share industry news and trends, report on best practices, review helpful case studies, and conduct interviews with experts from a variety of disciplines -- all with the goal of helping you uncover something that will help you do your work just a little bit better.

As we share these resources, we hope you’ll share some with us, too, by offering your own comments on our posts or submitting your own ideas, videos, photos, case studies or guest posts to be published on here the Builder Blog.