Closing the affordable
housing gap.
21%
AFFORDABLE LISTINGS
FOR A HOUSEHOLD
INCOME OF $75K
$375k
US MEDIAN
HOME PRICE
$405k
AVERAGE COST TO
CONSTRUCT A
RESIDENTIAL UNIT
(8.5%)
CHANGE IN
CONSTRUCTION ACTIVITY
(JUNE 2024-JUNE 2025)
7.6%
INCREASE IN
CONSTRUCTION
COSTS
(FY2023-FY2024)
Rising prices, borrowing costs and construction costs are widening the gap between available housing and what low- and middle-income households can afford.
Unmet demand in Cleveland – and across the State of Ohio, significantly exceeds existing affordable housing supply.
195,000
FEDERALLY ASSISTED HOMES IN OHIO
Of those families or individuals that still need housing assistance, 75% identify the need as “severe” or making less than 30% of the average median income.
30% are families, 25% are elderly / disabled
ADDITIONAL UNITS NEEDED FOR EXTREMELY LOW-INCOME HOUSEHOLDS
265,000
18,000+ Land Bank parcels — target low- to moderate-income areas/strategic Cleveland corridors
AVAILABLE LAND
Vacant, distressed, and tax-delinquent assets
ATTRACTIVE BASIS
COST
Acquisition cost is below replacement value and is targeted at 70% or less of ARV
Federal + state + county + city programs — investors can provide 15% equity or less in specific projects
LIQUIDITY SOURCES
Ability to cluster for neighborhood-level impact