Shared Equity Homeownership
The Raleigh Area Land Trust (RALT) offers shared equity homeownership opportunities to lower-income individuals and families across Wake County. Shared equity homeownership is a self-sustaining model that takes a one-time public investment to make a home affordable for a lower-income family and then restricts the home’s sale price each time it is sold to keep it affordable for subsequent low-income families who purchase the home. The model balances wealth building for families who would otherwise be unable to afford owning a home with preserving the community’s investment.
RALT does this through the Community Land Trust (CLT) model, serving as a long-term steward of land to protect permanent affordability and access to housing. The CLT model is a proven affordable housing and anti-displacement strategy that has been used successfully for decades across the country. The CLT acquires land to build homes (or rehabilitates existing homes) and then makes the homes available for sale at an affordable price to limited-income homebuyers (50-80% of Annual Median Income). The CLT leverages subsidies and philanthropic support to lower the purchase price for income-qualifying households.