Resources

 

Nantucket Housing Needs Covenant Program

One of the central programs for Housing Nantucket is the Nantucket Housing Needs Covenant Program. The Covenant Program- a program of the Nantucket Housing Authority and administered by Housing Nantucket - has created 55 permanently affordable homes on the island. The Covenant Program is designed to offer home ownership opportunities to middle income year-round islanders (those earning below 150% of median income).

The Covenant Program allows a property owner with more than one residential dwelling on a parcel to sell one of those dwellings at a permanently affordable price. (The program also allows an owner to sell off the development rights for a portion of the parcel.) The sale and resale of the covenant home is subject to a price cap. This price cap is based on median income (as determined by HUD) and current interest rates, and it is reset once a year in January.

The 2014 maximum sales price is $626,721. To qualify, purchasers must earn below $139,200.

For more information about program basics:

Sub-program details:

Market data:

Qualifying for the Covenant Program:

 

 

Contact Us

Write
Housing Nantucket
P.O. Box 3149
Nantucket, MA 02584

Visit
75 Old South Road
(Coming from town, we are on
the right after Greglen Ave.)

Call
508.228.4422 or
508.228.4915 (fax)

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