About a decade ago, the brothers were struggling with rising rent when they heard about a community meeting at Pompey Park. That meeting changed their lives—they learned about the Delray Beach Community Land Trust, a nonprofit that helps low-to-moderate income families buy and rent homes at prices they can actually afford.
After a year of paperwork, the Obees moved into a 3-bedroom, 2-bathroom house on 14th Avenue. Their monthly mortgage? Just over $1,000. To put that in perspective, they bought their home for around $142,000 in 2009. Today, according to trust executive director Evelyn Dobson, a comparable home would cost at least $450,000.
The trust’s homes typically cost around $300,000, but grants and other resources can bring that down to about $275,000. The secret to keeping costs low? The Delray Beach Community Redevelopment Agency (CRA) usually buys the land and transfers it to the trust. This means homeowners only pay taxes on their house—not the expensive land underneath it.