“Teach here, live here” is the thrust of efforts to build affordable housing for teachers in cities around the country. Many teachers who make middle-class salaries increasingly exit jobs in pricey urban areas for a better work-life balance in the suburbs.

And that leaves inner-city schools without experienced educators. In Indianapolis, a project by the nonprofit Near East Area Renewal is nearing completion.

Twenty-two homes developed from formerly vacant or abandoned houses are being made available for purchase to educators who qualify based on income. The houses will range in price from $136,000 to $193,000.

Three have been sold so far.  “Most starting first-, second-, third-year [Indianapolis Public School] teachers qualify to purchase these homes,” NEAR Executive Director John Franklin Hay told CBS affiliate WTTV. According to Hay, Indianapolis loses 400 public school teachers a year because more lucrative jobs are available in the suburbs.

“Most IPS teachers start at $40,000,” Hay said. Through relationships with the city and an Indianapolis neighborhood housing partnership, NEAR was able access millions of dollars in tax credits and Department of Housing and Urban Development (HUD) funding. Read more from cbsnews.com…

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