Becoming a homeowner in Flagstaff has never been easy, but this year the barriers have been particularly high, with the median average price of a single-family home well above $700,000 by this summer.
Combine that with hikes in mortgage rates and overall inflation pressures, and it was a triple whammy that dashed the dream of homeownership for many who live and work in northern Arizona.
Public, nonprofit, and private entities are working together to give some relief by producing starter homes through Habitat for Humanity of Northern Arizona (HFHNA) that are small-scale, affordable, and meant to create equity quickly for homeowners.
The group is currently building the first of these homes in Flagstaff’s South Side, but it is likely the effort will grow exponentially in the next five years under a plan to build at least 40 of the units at the new Timber Sky development on West Route 66.
“The escalation of home prices has closed the window for a huge amount of middle-class people,” said Eric Wolverton, Executive Director of HFHNA. “This isn’t about serving the poorest of the poor. We are looking to create workforce housing.”
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