As many of us know, there is a shortage of year-round, affordable housing for year-round Islanders. Today’s real estate market is at a point where it is challenging for families to buy their own homes and many year-round rentals have been taken off the market.
There are so many stories of people that need housing, and the Island Housing Trust is working to help address the issue. With towns, grants, individual donors, events and more – there is no simple solution, but we can work together to make a difference.
Raising the Roof
Island Housing Trust is hosting a virtual fundraiser, IHT 2021 Virtual Summer Benefit Campaign, that runs through July 27th, with a goal of $1,000,000 dollars. Along with other community members and businesses, Point B Realty has made the pledge to help raise $100,000 for the Island Housing Trust.
We all know about the housing crisis and here are some of the numbers from the Coalition to Create a Housing Bank website that highlight the great need for us to do all that we can to make a difference:
- There is a $781,500 gap between what the average Island family can afford and the median home sale price ($1.15 million in 2020).
- Only 38% of our housing stock is available for year-round occupancy, contributing to an availability shortage.
- Over 700 year-round residents and their families are waiting for affordable rentals, including 210 children.
- Rents are 30% above the statewide median while wages are 27% below the statewide median.
- 440 year-round residents are currently on waiting lists to purchase homes within their financial reach.
- 21% of year-round Vineyard residents – over 1,200 – pay more than half of their income on housing costs.
Together, we can help the Island Housing Trust meet its goal of $1,000,000.00 for its Summer virtual fundraiser. Every dollar donated makes a difference. It’s easy to give, click here to Raise the Roof for year-round housing opportunities. With Point B’s Raise the Roof campaign, it’s easy to see how your money can impact the homes being built:
- $250 – A kitchen sink for a home
- $500 – An energy efficient window
- $1,000 – A new door for a home
- $5,000 – Paints an entire house
- $25,000 – Puts roofs on 5 homes or apartments
- $50,000 – Frames a new home
- 100,000 – Builds a home by leveraging town and state grant funding
It’s easy to give, click here to Raise the Roof for year-round housing opportunities. Follow us as we work to raise money and awareness for Island Housing Trust this month with fun community collaborations and events.
Thanks for reading On Point MV. Also be sure to check out We Love MV our ON POINT MV Blog series capturing the spirit of Martha’s Vineyard year-round. We hope you are staying safe during these times. Please don’t forget to “Like” Point B Realty on Facebook, and follow us on Twitter, Linked In, Pinterest, Youtube and Instagram.
