Real Estate Sales to Support Affordable Housing in Connecticut

 

Let’s face it. Connecticut is a beautiful place to live, but it’s expensive. In fact, Connecticut is one of the most expensive places to live in the U.S. The increase in housing costs over the past several decades has created an affordable housing crisis in our state.

Thousands of hard-working Connecticut families struggle to pay high rent costs far exceeding the national housing costs standard of 30% of their income. It’s becoming harder for working-class families to live here. Families who earn less than 80% of the area median income are at constant risk of becoming homeless because of a severe shortage of affordable housing.

 Did you know?

  • A person needs to make $25.40 per hour to afford a 2-bedroom apartment in Connecticut and the average wage for a renter is $17.53.

  • A family making median income could not qualify to purchase the median sales price home in 117 of the state’s 169 municipalities.

  • Between 2000 and 2008, the median house price in Connecticut increased by 62.4% while income rose only 39.1%.

  • There are approximately 344,000 Connecticut households at risk of homelessness.

  • For every three families in need, there is only one available affordable housing unit. The need is real and it’s growing.

 

How does Wise Choice Realtors support Connecticut Housing Partners' development of more quality, low-cost housing?

 

At Wise Choice Realtors, 100% of net proceeds from transactions goes to support Connecticut Housing Partners (CHP), a respected community-based not-for-profit affordable housing developer. In the past three decades, CHP has partnered with federal, state and local organizations to develop and manage over 28 affordable housing complexes consisting of more than 617 units in Bridgeport, Stamford, Norwalk, Wilton, Fairfield and Trumbull. Our profits help CHP finance much-needed affordable housing projects in Connecticut.