Community Land Trusts create affordable housing for low-to-moderate income residents, allowing them to build equity as homeowners.
70% of CLT homeowners go on to purchase a home at market value.
79% of CLT homeowners are first time homeowners.
Today, there are over 225 community land trusts across the United States.
CLT Homeowner FAQs
Area Median Income (AMI) is a region-based income estimate, ranked by family size, updated annually by the Department of Housing and Urban Development.
Pittsburgh’s Area Median Income includes all of Allegheny, Butler, Beaver, Westmoreland, Washington, and Fayette Counties. Our chart, below, shows the current AMI for 2022.
No, there is no credit score needed to qualify for the program. However, interested homebuyers must prequalify for a mortgage in order to apply.
Yes. Interior and exterior modifications are allowed. CLT homeowners own their homes and can do most of what a conventional homeowner can do, with the stipulation that they must report structural changes to the CLT.
The CLT acquires vacant or abandoned property through the City of Pittsburgh’s property reserve and treasurer’s sale. The CLT has also received in-kind gifts, and the organization has purchased properties to renovate.
CLTs exist in 45 states throughout the U.S. Nationwide data shows that 70% of CLT homebuyers go on to buy a market rate home for their next home, and CLT homebuyers default on their mortgages about 10 times less frequently than market rate buyers.
Yes. The ground lease allows the homes to be fully inheritable. Income restrictions don’t apply to inheritors, but the person who inherits the house is still bound to the maximum sale price stipulated by the ground lease.