Shared Equity Homeownership Evaluation: Case Study of Champlain Housing Trust

Research Report

Shared Equity Homeownership Evaluation: Case Study of Champlain Housing Trust

Abstract

Shared equity homeownership initiatives provide below-market homeownership opportunities to income-eligible families in return for a share of the owner's potential capital gains at resale. This case study analyzes affordability, personal wealth, security of tenure, and mobility outcomes for the Champlain Housing Trust (CHT), which operates in the Burlington, VT metropolitan area. Despite owners' high returns, CHT homes saw only a small decrease in affordability. Foreclosure rates for CHT homes are below the area's already-low average. And even though nearly all CHT buyers were first-time homeowners, most resellers are able to purchase market-rate homes when leaving the program.

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