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The Island Housing Trust was established to answer a pressing need: many working islanders, those who provide vital services, and are the heart and soul of our community find it increasingly difficult to afford to live here.
AFFORDABILITY GAP- is measured by the imbalance between Island housing costs and wages: high home prices 85% above the statewide median; high rents at least 30% over the statewide median; and low wages 27% below the statewide average.
SKY ROCKETING REAL ESTATE MARKET - Buying a median-priced home in 2006 for $556,000 requires an income of more than $133,000, yet the average island worker earns $33,534 a year. A household with two adults working full time, earning the average wage, cannot afford a median priced-home.
HOUSING CRISIS - Affordable housing is a problem not just for low and moderate-income households, but also middle-income households earning as much as $90,000 annually or are at 140% of the median income.
HOUSING NEED - Of the nearly 2,000 year-round renters, there are 190 households who are actively seeking affordable home ownership and 300 who are seeking affordable rentals.
HOUSING NEEDS REPORT - A copy of the Preserving Community - An Island-wide Housing Needs Assessement  can downloaded here or at our PUBLICATIONS page.
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