Shaping Tomorrows
Homeownership is a key to prosperity, representing 40-70% of family wealth, often dictating if parents can leave an inheritance. Together, we can create opportunities that empower families to build lasting wealth and secure a brighter future for generations to come.
MORE renters can become successful homeowners with the right support
Those “Ready” are financially stable, have good credit scores and can afford variable costs. Their family is growing and they need more space and freedom. However, the increased prices of homes have made it difficult for them to afford or compete in the housing market, and while they are aware resources exist, they still find them difficult to access.
Like those who are “Ready,” “Cuspers” have difficulty finding helpful housing information and resources. They desire predictable costs and are waiting for the right home or prices to stabilize. These households also have stable incomes, but still face barriers to qualify as a homebuyer.
“Cuspers” are in or near the right financial position to own a home, with incomes ranging from 40-60% of the area median income. Like those who are “Ready,” they have difficulty finding helpful housing information and resources. They desire predictable costs and are waiting for the right home or prices to stabilize.
Opportunity for Success
Greater Rochester is uniquely positioned to close the homeownership gap while making our community one where everyone has the opportunity to thrive. Existing initiatives are in motion to address the housing crisis as a whole. This type of collaboration is essential for progress, yet tackling systemic issues requires a more focused approach.