Last updated: September 17, 2026
Affordable homeownership through Homestead Community Land Trust
Homestead Community Land Trust creates permanently affordable homeownership opportunities for people who are priced out of the traditional housing market. Since 1992, Homestead has helped individuals and families purchase homes throughout King County and neighboring communities.
Homestead offers newly constructed and existing houses, townhomes and condominiums at prices substantially below their market value. Available homes, locations and eligibility requirements vary.
How Homestead homeownership works
Homestead combines public and private investment to reduce the initial purchase price of a home, making homeownership possible for people who cannot afford current market prices.
The buyer purchases the home with a standard mortgage and builds equity over time. Homestead retains ownership of the land beneath the home, which the homeowner uses through a renewable 99-year ground lease.
In return for purchasing the home at an affordable price, the homeowner agrees to sell it at a formula-determined price to another income-qualified buyer. The seller receives their original investment plus a limited amount of appreciation.
This approach allows one investment in affordability to serve one homeowner after another. Rather than disappearing when the home is sold, the affordability remains in the community for future generations.
Who Homestead serves
Homestead homeownership is designed for people who:
- Meet the household income requirements for program (see income limits on Website)
- Are unable to afford a suitable home at current market prices
- Can qualify for an approved mortgage in an amount required by the desired home
- Plan to use the home as their primary residence
- Complete Homestead’s required application and homebuyer-education process
UW employment does not guarantee eligibility or give an applicant preference, but UW employees and their family members are welcome to apply if they meet the requirements.
Homebuyer information and support
Homestead helps prospective buyers understand the community land trust model and prepare for successful homeownership. Resources include:
- Information sessions explaining how Homestead homeownership works
- Information about currently available and upcoming homes
- Guidance through Homestead’s eligibility and application process
- Connections to approved lenders and homebuyer-education providers
- Ongoing support after purchase
Available now: https://www.homesteadclt.org/available-now