ACCT's Shared Equity Program helps buyers earning up to 120% of area median income afford a downpayment and keeps homes in our program permanently affordable. Of 13 homes resold through our program since 2016, the median appraised value was $180,000 and the median net purchase price after grants was $140,000, making homeownership affordable to residents earning about $40,000 per year. Check out available homes on our Resale Bulletin Board.
VHFA today released an analysis of median home prices based on 2019 sales data. Statewide, home prices increased 6.5% over 2018. In Addison County, the increase was more modest at 2.7%; however, while the statewide median sales price increased to $229,000, the median home in Addison County sold for $246,500, or nearly 8% higher than the statewide median. In order to afford a home at the median sales price, an Addison County resident would need to earn about $70,000 annually and $23,000 available in cash for a downpayment and closing costs. Median household income in Addison County is about $65,000.
ACCT's Shared Equity Program helps buyers earning up to 120% of area median income afford a downpayment and keeps homes in our program permanently affordable. Of 13 homes resold through our program since 2016, the median appraised value was $180,000 and the median net purchase price after grants was $140,000, making homeownership affordable to residents earning about $40,000 per year. Check out available homes on our Resale Bulletin Board.
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April 2021
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