The median size of a new single family home grew from 2063ft^2 in 1996 to 2523ft^2 in 2007. What is the percent of increase?

The answer is 22.30%

(1) Calculate the percentage of the initial value:

2063 ft2 is 100x%. 2523 ft2 is x%

2063 : 100% x = 2523 : x

x = 2523 * 100% : 2063

x = 122.30%

(2) Calculate the percent of increase:

x - 100% = 122.30% - 100% = 22.30%