Neighborhood Homes Initiative
We are selling approximately 250 parcels of City-owned land for new homes and will provide subsidies to developers to ensure that these homes are priced affordably.
Homes will be priced between $250,000 - $400,000, and will be affordable to households with a combined income between $60,000 - $100,000. The affordable homes produced through the initiative have a 50-year resale restriction.
Initiative homes are produced using model home designs that have been pre-approved by the City’s Inspectional Services Department. These standardized building plans will help builders create homes more efficiently and at lower cost without sacrificing quality.
Homes will be sold to qualified first-time homebuyers through a lottery process. Interested first-time buyers must apply to the Neighborhood Homes Initiative.
Qualified applicants must:
- Meet income limits (some properties may have lower income limits than others).
- Have a pre-approval for the property type being offered, and its purchase price.
- Have sufficient savings and meet other program requirements.
Qualified applicants will be automatically entered into every lottery for which they are qualified and meet the income limits. Applications are accepted on a rolling basis, but certain properties will have application deadlines.
MAXIMUM HOUSEHOLD INCOME LIMITS*
- 1-person: $68,650
- 2-person: $78,500
- 3-person: $88,300
- 4-person: $98,500
- 5-person: $105,950
- 6-person: $113,800
Income and asset limitations apply.
Properties are deed-restricted with owner-occupancy requirements.
Lottery winner must be a first-time homebuyer who has completed an approved homebuyer education course and who meets the minimum household size for the property being offered.
Preferences for Boston residents and household size of one person per bedroom.
*Requirements are subject to change.
Properties will be listed throughout the year. To make sure you are ready, the Boston Home Center is here to help you.
If you haven’t done so already, take Homebuying 101 to learn about buying a home.
Are you an Homebuying 101 graduate who has some credit, debt, or savings issues? Take a free homebuying workshop, credit, or Homebuyer Boot Camp designed to help you work on those issues.
Meet with one of our participating lenders at a Meet the Lender event to find out what you can afford.
Drop-in to a monthly Drop-in Counseling Session and let us help you get on track for homeownership.
Join the Homebuying Club so we can keep in touch with you and let you know about classes, workshops, homebuying opportunities, and when Neighborhood Home Initiative Applications will be availability.
Sign up today for a class, workshop, Meet the Lenders event, or to join the Homebuyer Club!