Don’t Miss The Great Harpswell Home Energy Marketplace
Join Harpswell Community Housing Trust, Efficiency Maine, and a host of other organizations on Saturday, May 1, 2010, for the Great Harpswell Home Energy Marketplace, at Harpswell Islands School, Route 24 in Harpswell.
See our Energy Efficiency page for full details.
What Are Affordable Homes?
They are homes in which the rent or the total of mortgage payments, insurance, and taxes are no greater than one third of the total annual income of those who reside there.
Are Affordable Homes a Concern in Harpswell?
Definitely! In 2007 median household income in Harpswell was $46,300 and at that income level, an affordable house had a price of no more than $155,500. At the same time, the median price of a home sold in Harpswell in 2007 was $394,000, and most homes sold were priced considerably above the affordable level. In 2007, eighty-one percent of the Harpswell households could not afford a median-priced Harpswell home. Learn More
What About Rental Housing?
In Harpswell in 2007, there were 142 renter households and another 46 senior renters earning less than $30,200 [renter median], or 50% of annual median income. They could afford a rent of some $750 for an apartment. However, the 2007 median rent for a two-bedroom apartment in Harpswell was $927. 62% of the households in Harpswell could not afford that rent.
Why Should We Care?
We should care because the high cost of housing in Harpswell means it is impossible for many with ties to the town to remain or return here. Ninety-nine percent of the homes for sale cost more than a typical household earning $47,000 a year can afford. Seniors, grown children of local residents, teachers, police, government workers, and locally employed service workers are just a few examples of people excluded from Harpswell by the cost of housing. These exclusions threaten the diversity that, for many, is a key attraction of life in Harpswell. Learn More
What Can Be Done?
Given the high cost of land in Harpswell, affordable land is a key element of an affordable home.
The Harpswell Community Housing Trust (HCHT) will assist in development of affordable homes by acquiring land at reduced prices. As an IRS-classified chariable, non-profit organization, HCHT will enable donors of land and those who provide land at discounted price to benefit from tax advantages.
HCHT will partner with developers and builders of affordable homes. The Trust can obtain and provide land for sale or long-term lease. It can assist in identifying potential qualified buyers or renters. It can help potential buyers and renters determine if they are qualified.
HCHT will seek funds through grants and community fund-raising to assist in accomplishing its objectives.
It will offer a variety of informational presentations to the public to enable residents to better understand their personal stakes in the issues of affordable housing.