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There is a critical shortage of affordable homeownership in Hampton Roads with the median sales price of $178,400 for Newport News. The chart below shows that many working families in our community cannot afford the median price home. With home prices rising, its important that we create more affordable homeownership now but that we also keep those homes affordable for future buyers.
Why we need you
Why is homeownership important to our community?
Homeownership builds and strengthens communities and offers a pathway to economic family stability. Too many working families in Hampton Roads cannot afford homeownership and remain in rental housing without the benefit of building equity in their homes. Homeownership also provides the opportunity for long term family investment in their communities.