2006 Comprehensive Annual Financial Report

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of South Bend (1,288); and Madison Center (1,239). The following provides a profile of the residents of St. Joseph County: Gender: 47.7% male; 52.3% female Age: 37.9% 0-24 years of age; 25.5% 25-44 years of age; 23.6%% 45-64 years of age; and 13.0% 65 years of age and older. Race: 80.1% White; 12.0% Black/African American; 5.8% Hispanic/Latino; 1.6% Asian; and .5% Other Marital Status: 50% Married; 18% Widowed/Divorced/Separated; and 32% Single Home Ownership: 67.5% own; 32.5% rent/other Type of Dwelling: 78.6% single unit; 21.4% other The cost of living continues to be one of the greatest advantages of living in this community. The housing costs in South Bend are well below the national and regional averages. Per a report compiled by the National Realtor's Association in the first quarter of 2007, the median sales price for a single family home in the South Bend-Mishawaka Statistical Area was $85,600 as compared to a median sales price of $267,300 in Chicago and $112,500 in Indianapolis. The national median sales price is $218,000.00. South Bend's ACCRA cost of living index was 97.8. A further breakdown of South Bend's cost of living index is as follows: grocery items - 87.8; housing costs - 102.8; utilities - 103.8; transportation - 97.1; health care - 97.9; and. miscellaneous goods and services - 97.9. The City of South Bend continues to place high emphasis on a growing and diversified local economy. It has been active in developing ten industrial parks, offering itself as a low-cost alternative to the Chicago metropolitan area to companies engaged in light manufacturing, distribution and services. More than 240 businesses operate in South Bend's industrial parks, including companies engaged in metalworking, plastics, warehousing and distribution, and professional services. The South Bend Community School Corporation serves the entire City and some of the surrounding area and has a current enrollment of approximately 21,926 students in grades kindergarten through high school. An estimated 4,441 students attend private or parochial schools within the City. The nine institutions of higher education and technical training located within the South Bend area have a total enrollment of approximately 31,388. Over the years, the University of Notre Dame has provided a stabilizing influence on the economy with a very significant economic impact upon the community. South Bend has continued to progress in its growth since 1842, when Father Edward Sorin named his rustic log chapel "Notre Dame du Lac" and began to teach the local Indians. Today, 8