The challenges of housing affordability and the lack of affordable housing directly contribute to the cycle of poverty. In neighborhoods we serve, more than 1 out of every 3 renters are severely cost burden–spending more than 50% of their total income on rent. And there are a lot of renters in our communities. Almost all of our clients rent, and on average, 80% of the communities we work in are renters.
Passage Home looks to impact the built environment of our communities by building safe, affordable housing that our communities deserve. Our goal is to develop housing that our communities deserve and can afford. Passage Home does not charge more than 30% of a families income for rent–including utilities–at any of our properties. The additional savings allows our families to invest in education, training, healthier foods, transportation, or any other areas of their life.
Passage Home also offers homeownership opportunities to families making 80% of the Area Median Income (AMI). Police officers, fire fighters, teachers, and other civil servants are the typical profile of someone earning 80% the AMI. They can no longer live where they work. Through this initiative, we are helping families build long-term, generational wealth and remain in the communities the love.