Habitat for Humanity Starter Homes
2024 Crescordia Award RecipientsFinancial Sustainability is key to Habitat for Humanity of Northern Arizona’s mission and they are actively solving this issue through homeownership and equity savings for low-to-moderate income earners. Habitat is building Starter Homes on the City of Flagstaff’s Land Trust property. This shared equity model decreases the total home investment by about 40%, and the homeowner pays a modest $30 a month land lease payment to the city. A low-to-moderate income family can purchase a Starter Home with a $1000 down-payment. creating a $10,000 equity savings each year of ownership. The Starter Home financing model is key to this revolution in workforce/affordable housing.