Covenant Homes
Nantucket Housing Needs Covenant Program
One of Housing Nantucket’s central programs is the Nantucket Housing Needs Covenant Program. The Covenant Program offers home ownership opportunities to moderate income year-round islanders (those earning below 150% of median income). The Covenant Program has created 115 permanently affordable homes on the island, and counting.
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. It is reset once a year in January.
The 2024 Maximum Sales Price Cap is $702,465.
Covenant Buyers must meet residency requirements, earn below $204,450 per year, must have less than $351,233 in unrestricted assets, and may not own residential Nantucket real estate at the time of purchase.
The 2024 transaction fee is $3,512, paid by the seller.
To begin the process, complete one of the applications below.
Available Homes
1D Ticcoma Way (vacant land)
11 Equator Drive (vacant land)
Lot size: .18 acres (red outline)
For sale by owner
For more information: 508-332-9585
Recent Transactions
The following transactions occurred within the past few months.
* Disclaimer- this data is not guaranteed. Sources include information provided by the homeowner and public record.
7B Green Meadows Road, Unit 2
$690,000
Sold 7/31/24
2 beds, 1 bath
65R Miacomet Avenue
$702,465
Sold 7/29/24
1 bed, 1 bath
10B Field Avenue
$702,465
Sold 4/30/24
2 beds, 1 bath
5 Marble Way
$767,511
Sold 7/03/23
3 beds, 2 baths
14A Equator Drive
$767,511
Sold 6/16/23
2 beds, 1 bath
Lot size: .18 acres (red outline)
19R Cynthia Lane
$767,511
Sold 3/27/23
2 beds, 1 bath
Lot size: 08 acres
4A Evergreen Way
$835,000
Sold 2/10/23
2 beds, 2 baths
Lot size: .57 acres
12A Larrabee Lane
intrafamily transaction
Sold 1/10/23
2 beds, 1 bath
Lot size: .24 acres
24 Rugged Road
$200,000
Sold 12/06/22
vacant land (red outline)
Lot size: .18 acres
6 Essex Road #1
$850,000
Sold 11/01/22
2 bedrooms, 1 bath
Condominium (free standing house)
3A Miller Lane
$650,000
Sold 10/14/22
1 bedroom, 1 bath
Lot size: .18 acres
16 Friendship Lane
$750,000
Sold 8/19/22
1 bedroom, 2 baths (red outline)
Lot size: .26 acres
63 Cato Lane (land)
$400,000
Sold 7/15/22
vacant land (red outline)
Lot size: .18 acres
43A Macy’s Lane
$835,000
Sold 6/15/22
2 bedrooms, 3 baths
Lot size: .06 acres
4 Hull Lane
$820,000
Sold 6/1/22
3 bedrooms, 2 baths
Lot size: .09 acres
40 1/2 Essex Road
$825,000
Sold 5/31/22
2 bedrooms, 1.5 baths
Lot size: .09 acres
39B Essex
$457,000
Sold 4/12/22
1 bedroom/ 1 bath
Condominium (garage apartment)
3A Correia Lane (land)
$200,000
Sold 4/05/22
vacant land (red outline)
Lot size: .46 acres
3 Quail Lane
$888,515
Sold 11/29/21
4 bedroom/ 3 bath
Lot size: 0.19 acres
67 Fairgrounds, portion (land)
$315,000
Sold 10/21/21
vacant land (red outline)
Lot size: 0.1 acres
Lot 2 Larrabee Lane (land)
$280,000
Sold 10/08/21
vacant land (red outline)
Lot size: 0.09 acres
78 Skyline, Unit 1
$860,000
Sold 09/30/21
2 bedroom/ 2 bath
Condominium (free standing house)
9 Field Ave (land)
$365,000
Sold 7/28/21
vacant land (red outline)
Lot size: 0.37 acres
3 Evergreen Way (land)
$350,000
Sold 7/12/21
vacant land (red outline)
Lot size: 0.37 acres
Lot 3, Larrabee Lane (land)
$280,000
Sold 6/01/21
vacant land
Lot size: 0.09 acres
2B Blueberry Lane (land)
$350,000
Sold 5/28/21
vacant land
Lot size: 0.39 acres
74 Somerset Road, Unit 2
$820,000
Sold 5/28/21
3 BR/ 2 bath
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2A South Pasture Lane (land)
$300,000
Sold 11/30/20
vacant land
Lot size: 0.36 acres
8 Meetinghouse Lane
$824,401
Sold 11/5/20
4 bedroom, 2 bath
Lot size: 0.10 acres
11 Marble Way (condo)
$824,401
Sold 10/15/20
3 bedroom, 2 bath
Lot size: 0.20 acres
54 Skyline Drive
$465,000
Sold 10/15/20
1 bedroom, 1 bath
Lot size: 0.69 acres
3A Somerset Rd
$715,000
Sold 8/24/20
3 bedroom, 2 bath
Lot size: 0.18 acres
1 Webster Rd
$425,000
Sold 5/19/20
1 bedroom, 1 bath
Lot size: 0.62 acres
3 Friendship Lane
$260,000
Sold 4/16/20
vacant land
Lot size: 0.19 acres
