Homestead Community Land Trust preserves and advances access to permanently affordable homeownership as a means to create thriving, equitable and inclusive communities.
Our work empowers individuals, stabilizes families and strengthens neighborhoods in the Greater Seattle/King County area.
Partnering with modest income households (who earned less than 80% area median income), we have created the largest portfolio of permanently affordable homes in Washington State.
We welcome the opportunity to serve community partners and organizations in King County whose goals may be best served by the benefits of our community land trust.
Building Equity and Opportunity
With its 25 years of service to the Puget Sound area, Homestead combines housing development with counseling, education, and other support activities to create a growing inventory of permanently affordable homes. Every home we develop and sell at an affordable price to an income-qualified buyer is kept affordable to all future buyers through the community land trust.
We provide residents who keep our community vital -- including mail carriers, police officers, grocery clerks, social workers and teachers -- the opportunity to gain stability for their families, safely accrue equity, and put down roots in their communities.
From pre-purchase counseling, homebuyer readiness, down payment assistance, support through the purchase closing process, to ongoing support and stewardship post-purchase Homestead supports long-term homeowner success. Our pre-purchase counseling services reach 300 prospective homebuyers per year. Homestead currently stewards a portfolio of over 200 high-quality, affordable, owner-occupied homes.
When individuals and families achieve homeownership, they are no longer subject to displacement due to rent increases, building sales or the landlord losing the house in foreclosure. Their resources are no longer tied up in excessive commuting, paying high rent or serial, frequent relocation.
This increased stability contributes to healthier communities, allowing households to invest more deeply in civic engagement and build stronger connections with neighbors, in addition to keeping children in the same school district throughout the course of their education. When people live near job centers and extended family and friends, their interpersonal networks strengthen the fabric of the community.
In addition, homes purchased through Homestead help to stabilize the local housing market in the midst of constant fluctuations, which financially strengthens the broader community. In fact, across the country, community land trust homeowners, like Homestead homeowners, are ten times less likely to experience foreclosure, protecting neighborhoods from the high vacancy rates, loss of property tax income and blight.
Empowering Future Generations
Unlike the traditional housing market, Homestead homes remain affordable for every new buyer. This means each dollar spent on a Homestead home is a lifetime investment towards sustainable homeownership and community stability. There is no need to invest additional public and private funds to keep homes affordable at resale. Our homeowners, as stewards of this invaluable resource, are both the key investors and the beneficiaries, helping to preserve a legacy of affordable housing both for their families and their communities.