The Largest National Study on Community Land Trusts and Nonprofits with Shared Equity Homeownership Programs was recently completed.
In partnership with the University of Toronto, Grounded Solutions Network has completed the largest and most comprehensive national census on community land trusts (CLTs) and nonprofits with shared equity homeownership programs (SEH) to date. The report was made possible through the support of Freddie Mac, and which was developed in partnership with and published by the Lincoln Institute of Land Policy.
The census is the culmination of two years of hard work from this dedicated team of researchers, including Vince Wang, Ph.D.; Jason Spicer, Ph.D.; Emily Thaden, Ph.D.; Celia Wandio, MS; Amanda Bennett; and Sophia Corugedo, MA.
The full report provides illustrative details and insights into the prevalence, practices, and impacts of Community Land Trusts and Shared Equity Homeownership. Perhaps most significantly, researchers identified a marked increase in CLTs or SEHs, recording 314 CLTs or SEH entities across 46 states, representing a nearly 30% increase since 2011.
Based upon projections, CLTs or SEHs represent 43,931 affordable housing units, including rental units, shared equity and non-shared equity homes, lease-to-purchase units, and manufactured homes. Of those, 15,606 are shared equity homes—nearly a 120% increase compared to the estimation in the previous national survey conducted in 2011.*
For shared equity homes documented in the survey, 87% of the households who purchased these homes were first-time homebuyers, 66% of the households had at least one dependent under the age of 18, and 32% of households were led by single mothers with at least one dependent.
Nearly half (45%) of all households in shared equity homes were people of color.
The full 81-page report details a vast array of findings, including—but not limited to—variations in board and governance structures, financial wellness comparisons to the broader Community-Based Development Organization field, shared equity program characteristics, and mortgage financing and funding trends.
With an impressive 62% response rate, we want to express our utmost appreciation to all of our collaborators, but especially to those who filled out this extensive survey. From the bottom of our hearts, we thank you! This data is absolutely vital to continue to grow our field and the impact we have on communities.