This summer, we’re reflecting on the power of our community — and with supporters like you who believe in equitable access to land and housing, we are making an impact. At MACLT, we preserve urban space for community use and create permanently affordable homeownership opportunities for those typically exploited by the housing market.
The Need is Greater Than Ever
Dane County has one of the hottest and fastest-growing housing markets in the US, making it increasingly challenging for the average family to own a home. Over the past year, median single-family home prices grew 9% in Dane County to over $490,000. To buy the median-priced home in Dane County, a family would have to make at least $150,000. We’ve entered the worst housing crisis our community has ever seen, where homeownership is already out of reach for the average family.
Our Impact
With support from the community, MACLT has developed 62 permanently affordable homes that we keep affordable for generations using a resale formula and ground lease. Our low-income buyers save an average of $100,000 on their home purchase through MACLT. MACLT is selling our homes to families with incomes between $43,000 and $75,000, with a median home sale price of $187,000. That’s less than half of the county median home sale price.
With our 62 permanently-affordable homes, MACLT has helped 123 low-income families achieve homeownership. This means the funds invested into our homes have doubled in impact over time, while our homes stay affordable for families making between 30% and 80% of the County Median Income (CMI).
Looking Ahead
MACLT has 6 new units breaking ground at Owl Creek and Mosaic Ridge, and 1 additional acquisition-rehabilitation home planned this year. MACLT is also working on plans to develop affordable condos at the Voit property on Madison’s eastside. These projects demonstrate MACLT’s growing impact as we expand our efforts to create more permanently affordable housing in Dane County. As we add more homes to the land trust, we create more opportunities for families looking for a stable and secure place to live – opportunities that will still be there for the next family and the next family.
Your commitment to ensuring everyone has a stable place to live is what helps us grow. Will you consider a gift to MACLT today to support the development of more permanently affordable homes?
Click here to support permanently affordable homes.
