How some low-income buyers can afford a home in pricey Seattle

From Josh Cohen / CrossCut: In Seattle, Homestead Community Land Trust and Habitat for Humanity Seattle-King County help low-income residents buy homes using a community land trust model. Residents who make under 80% of the local median income can purchase a home at a rate far below the median home price in the city from a set portfolio of homes.

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Issue Areas:

Community Wealth Building, Housing, Land Trust, Land Use, Poverty Reduction Measures

Impact Areas:

Equity

Actors:

Lending, Banking, and Financial Institutions, Nonprofit / NGO, Philanthropy and Social Impact Investors

Communities Served:

Communities Experiencing Economic Hardship, Urban Communities

Strategies:

Easing Economic Burdens for Individuals, Redefining Land / Land Ownership

Success Factors:

Attacking Root Causes, Building Distribution Systems, Eliminating Barriers, Empowering People, Expanding Access, Leveling the Playing Field, Overcoming the Big Challenges, Practicing Human Centered Design

Geographic Region:

North America

Countries:

United States

Date:

September 12, 2022

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