Housing Nantucket

The affordable rental program and house recycling program - the affordable rental program is a scattered site program of 38 affordable year-round rental homes available to low, moderate and middle-income Nantucket residents. Most of these homes have been developed through the house recycling program, and some were newly constructed. House recycling is an innovative and cost-effective program where private individuals donate unwanted but structurally sound dwellings to Housing Nantucket (hn). Hn relocates buildings to hn's land, which is permanently deed-restricted for affordable Housing purposes. Then hn rehabilitates and rents the dwellings at affordable rates to income-qualified year-round Nantucket residents. Dwellings range from one-bedroom cottages to four-bedroom homes. Properties are regularly inspected and maintained to ensure quality living environments for tenants.

Housing Nantucket's educational programming - includes first time home-buyer education and rebuilding your credit classes. These classes are offered through traditional classroom learning as well as through an online platform.

The Nantucket Housing needs covenant program - (the covenant program) creates scattered site, middle income home-ownership opportunities. To incentivize the initial creation of a covenant home, private property owners are allowed zoning relief which enables them to sell a portion of their land that is otherwise not sub-dividable. In exchange, the owners record a deed restriction which permanently restricts ownership to qualified year-round islanders. Covenant home purchasers must be year-round residents earning less than 150% of the area median income. The transaction price of a covenant home must be below the maximum sale price, which is reset annually and determined by an affordability formula. Covenant homeowners are subject to a residency/occupancy requirement as well as resale restrictions.

Relocatable dwelling program - when hn cannot use structurally sound dwellings that are offered to them through the house recycling program, hn will sell the dwelling to a third party who is responsible for moving the dwelling via an assignment of Housing Nantucket's right on the donated property.