Upon her lease renewal, Ariel was notified of a $250 monthly increase. Although working full time as a front office medical clerk, Ariel was extremely rent-burdened. She paid nearly 40% of her gross monthly income toward rent to live in substandard and overcrowding conditions. According to the Office of Housing and Urban Development, affordable housing is generally defined as housing on which the occupant is paying no more than 30% of gross income for housing costs.
Having an affordable mortgage “is a blessing. It means no more struggling just to pay bills, no more stress, and the ability to enjoy life,” Ariel explained. Upon moving in, she was excited her new home included a laundry room. “No more lugging everything to the local laundry mat,” as she has been doing for the last seven years.
The need for affordable housing
“In July, the median price for a two-bedroom apartment in Sarasota County was $1,788 (last year, it was $1,490). In July of last year, it was $1,198. By comparison, the national median rate is $1,219.” Excerpt from August 4, 2021 SARASOTA Magazine article
Habitat Sarasota received grants for the renovations on her home from Wells Fargo Builds, Bank of America Charitable Foundation, David B. Lindsay Foundation, and Peace River Electric Cooperative Inc. Because of their support, Habitat was able to renovate an 1,100 square foot home featuring three bedrooms and two bathrooms. Energy-efficient improvements included new appliances, a new water heater, new heating and air conditioning unit and a new roof.
The home is located in a Qualified Opportunity Zone where the median income is 53%, and the poverty rate is 14%. The neighborhood is also considered to be in a Qualified Census Tracts, which has 50% of households with incomes below 60% of the Area Median Gross Income or have a poverty rate of 25%. Upon completion, Habitat Sarasota sold the home to an extremely low-income household-earning 38% of the Area Median Income.
“I am so relieved to provide stability for my kids in our new home. We are so grateful for all the supporters and volunteers at Habit for Humanity Sarasota. Thank you,” says Ariel.