> This sounds like an unusual situation, considering the places I've lived.

That number is slightly higher than average, but the situation isn't uncommon. In fact, it's common enough that the Federal Government itself is doing it too, in a dozen or so major markets (Atlanta, Seattle, Chicago, Los Angeles, Minneapolis, etc)

http://www.cnbc.com/2017/01/25/governments-fannie-mae-will-b...

> I'm curious as to what town this is,

These are the stats from my small hometown specifically :

http://michiganradio.org/post/winners-and-losers-grand-rapid...