Community
Impact
Ensuring Affordability.
In the face of the continually increasing cost of homeownership, more citizens than ever need affordable options in our communities. RALT serves lower-income adults and families living in Raleigh and Wake County and, more specifically, in areas affected most by displacement such as southeast Raleigh.
Home prices have increased by almost 60% since 2019.
Wake County has seen rapid and continued increases in home prices in recent years The median listing home price in Wake County, NC was $519,000 in June 2024, jumping 9.3% from the already unaffordable median price of $475,000 from 2022. On average, RALT offers an affordable sales price more than 30% lower than the fair market value, which is further reduced by ensuring access to down payment assistance and other supportive programs for homebuyers.
Almost 50% of Wake County residents earning less than $60k spend more than they should on housing.
In recent years, 48% of families earning between $37,000 and 60,000 (50% AMI) are cost burdened by housing, meaning they spend more than 30% of their income on housing and utilities. Another 20% are extremely cost-burdened, meaning they spend more than half of their income on housing and related costs.
We work with homebuyers to ensure they spend less than 30% of their income on housing related costs. We lower the purchase price, negotiate lower mortgage rates, offer reduced and stabilized tax burdens, and other cost savings to homebuyers. This contributes to individual and generational wealth building for families.
Housing instability negatively impacts mental, physical, and community health.
Research has shown that stable, affordable housing can reduce stress, improve mental health, and increase access to health, leading to better overall outcomes like reduced risk for stress-related conditions like hypertension and heart disease. Substandard housing with mold, pests, and inadequate heating contribute to respiratory problems and other health issues. RALT homes are built or renovated to higher standards, providing healthier living environments. By addressing residents’ physical and mental health needs, our community members can live longer, healthier lives.