BOISE, Idaho — City of Boise leaders recognize a lot of people cannot afford a single-family home in Ada County, which is $520,000 right now.
So, they are selling three townhouses on the Boise Bench and one single-family home near Boise State University. All three townhouses — 2728, 2752 and 2952 W. Cherry Lane — are on the same street.
"We are offering them as affordable homeownership opportunities for families that are looking to buy a home," said Melinda McGoldrick, Housing & Community Development operations manager.
The city manages more than 300 units; 26 are single-family homes. Previously, McGoldrick said they rented all four homes on the market.
The city bought them more than two decades ago.
The properties are only for people who make 80% or less than 80% of the area's median income. That means someone living alone needs to make less than $49,950. Four people living together need to make less than $71,3000 combined.
Local realtor Danika Aboud supports the city's idea. While home prices are dropping, she said there are still not a lot of options for buyers on a budget.
Currently, Aboud said there are 89 homes in Ada County on the market for less than $350,000.
"It's hard to find something for $250,000," she said. "Anything we can do to help people become homeowners is great for the community and overall great for the state as well."
The affordable housing crisis is nothing new. Boise needs 2,770 units every year for the next 10 years to meet demand; 77% of that demand is for people earning 80% or less than 80% of the area's median income.
As of right now, the city only has the four homes on sale. A city spokesperson said they will likely follow a similar process if other homes become available.
People have until 11:59 p.m. on Sept. 29 to make an offer. McGoldrick said the city will not take offers over the listing price.
The city is also using a lottery system. If someone meets all of the requirements, they will get the house. If they do not, it will go to the next person in line.
"It's an opportunity for us to be able to house people that wouldn't be able to find housing as easily within our community otherwise," McGoldrick said.
Other cities around the Treasure Valley also have "low to moderate" income houses on the market. KTVB reported in July the Caldwell Housing Authority is selling a house for less than $200,000.
Watch more Local News:
See the latest news from around the Treasure Valley and the Gem State in our YouTube playlist:
HERE ARE MORE WAYS TO GET NEWS FROM KTVB:
Download the KTVB News Mobile App
Apple iOS: Click here to download
Google Play: Click here to download
Watch news reports for FREE on YouTube: KTVB YouTube channel
Stream Live for FREE on ROKU: Add the channel from the ROKU store or by searching 'KTVB'.
Stream Live for FREE on FIRE TV: Search ‘KTVB’ and click ‘Get’ to download.