About Homestead
Our Commitment
Homestead is dedicated to expanding opportunity, strengthening community, and empowering future generations by providing permanently affordable homes in Seattle and King County. By offering a smart, low-risk path to homeownership, Homestead bridges the gap between dream and reality for many of the area’s first-time homebuyers.
Expanding Opportunity
For many people in Seattle and King County, buying a home has become an impossible challenge. Home prices are too high, monthly payments are unaffordable, and down payments are prohibitive. Homestead helps to lower these barriers, empowering individuals and families to purchase and own their homes; ultimately gaining access to greater security, more stability, and the financial tools necessary to build wealth.
Strengthening Community
When individuals and families achieve homeownership, they are no longer subject to displacement due to rent increases, building sales, or condo conversions. Their resources are no longer tied up in commuting, paying high rent, and relocating frequently. This increased stability contributes to healthier communities, allowing households to invest more deeply in civic engagement and build stronger connections with neighbors and keeping children in the same school district throughout the course of their education. When families are near job centers, extended family and friends, and needed services, their network of interpersonal connections help 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, financially strengthening the broader community. In fact, Homestead homeowners are eight times less likely to experience home foreclosure, protecting their neighborhoods from the negative impact of foreclosure.
Empowering Future Generations
Unlike the traditional housing market, homes purchased through Homestead 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. 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.
