Apply for Affordable Housing
This community has made it a priority to maintain at least 65% of its workforce living locally. For example, Land Development Regulations now require that all new residential or commercial developments allocate a certain percentage of that development to "restricted", affordable housing for our workforce. Although the gap between the need and supply for affordable homes is still quite large, the Affordable Housing Department’s aims to better support families and individuals that share our community values and have chosen to make Jackson Hole their home. If you’re interested to learn more, click to read the full text of our 5-Year Housing Supply Plan.
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Jackson/Teton County Affordable Housing Department’s Role
The Affordable Housing Department currently facilitates rentals and sales of two types of Homes:
To be eligible for our Affordable Housing options, you must be in the 0% - 120% Median Family Income range (MFI) for your household size.
If your household earnings are higher than 120% of the MFI, you may be eligible to enter the weighted drawing for a Workforce Home when one becomes available.
We also facilitate ownership of existing Attainable Homes, but this is a legacy program with no more homes being built.
How to Apply for a Home
1. Fill out our Online Intake Form
The first step in finding a home is to fill out our online Intake Form. Completing this Intake Form will add you to the Jackson/Teton County Affordable Housing Department’s database.
2. Pay attention to our e-mails and text notifications to see if any properties become available that you are eligible for and interested in.
Unless you check the opt out of receiving emails box, you will then receive an e-mail and text each time a new home becomes available. If you see a home that you are eligible for and interested in, you will have two weeks to apply to enter a weighted drawing for that home.
3. Prepare for our Application Process
You do not have to wait for a home to become available to get started on our application process. In fact, we strongly encourage you to get started on your application in advance, particularly with the following items:
- Verification of Previous Employment. If you have had multiple jobs in Teton County, this is something that you will want to get started on in advance. Verification of previous employment is not required, but it is to your benefit because the household will receive one entry into the weighted drawing for every proven year of consecutive, full-time employment. This only needs to be shown for one person in the household. The maximum number of entries a household can receive based on consecutive, full-time employment is 10.
- Verification of Self Employment Hours. The hardest part about self-employment is verification of your hours. Please stay ahead of the process and find a way to track your hours. This can be a handwritten log, a spreadsheet, an online calendar or a calendar on your phone. The Housing Department is flexible with what we will accept, but need something that shows that you work a minimum of 30-hours per week. (Here is an example of a log of hours).
- Tax Returns & W-2s. We require your tax returns and W-2s from the past 2 years. If you’re self-employed, we require tax returns and W-2s/1099s etc. from the past 3 years in addition to a YTD Profit & Loss Balance Sheet. We recommend compiling this paperwork in advance.
- Homebuyer Education Course - Ownership Only. One of the requirements to enter the weighted drawing for an Ownership unit is for one person in the household to complete the Homebuyer Education course. This is a self-paced, online course that costs $75 and can take between 3 - 6 hours. Once you obtain the certificate of completion, it never expires.
- Start Saving Money - Ownership Only. The Housing Department requires a minimum 3.5% down payment. Additionally, the more money you can put towards a down payment, the less money you’ll spend on mortgage payments when you purchase the home. There are also closing costs that you’ll need to cover, which are approximately 2% of the cost of the home.
- Talk to a Lender - Ownership Only. Talking to a lender will give you a sense of what you can afford and what your montly payments will look like. Your lender can also advise you on how much money to save for the down payment and closing costs. Additionally, since good credit scores tend to get better interest rates, your lender can talk to you about your credit history and how it may affect your loan. Have your lender complete The Housing Department’s Lenders Qualification Form (PDF) so you can submit it with your Weighted Drawing entry when you wish to enter a drawing for a home. This will need to be updated annually.
We understand that these applications take time and effort, and we do not want to disqualify you due to an oversight or misunderstanding about our process. When a weighted drawing is announced, please bring your applications in prior to the due date so that we have time to work with you, make corrections, and give feedback if anything is wrong.
4. Enter the Weighted Drawing for an available home:
One adult in the household must be able to verify at least one year of full time employment immediately prior to entering the weighted drawing.
To learn about exceptions, and all other requirements, please click here.
"....but I need a home right now!"
There are other non-profits in the area that provide subsidized housing. There are several local apartments with low-income and affordable options that choose their tenants directly. Please click here for other housing resources.