Local leaders established this housing type to target higher income earners and to allow initial home buyers to build homes for themselves. This program is a legacy program that was established prior to the development housing requirements that were adopted in the Land Development Regulations. The Housing Department manages the existing Attainable homes, however, this is a legacy program. There are no more Attainable homes being built.
Attainable homes do not have a set price, but they do have income and asset categories. For the Attainable homes that have already been purchased, the Attainable Categories are 2, 3, and 4. These are not the same as the Affordable Categories. Household income must be below the income limit for the category to qualify (see chart below). The asset limit is calculated according to each home’s restriction, this number is not reflected in the chart below however the income is. There was no Weighted Drawing for the initial sale of Attainable homes sold through the Housing Department. Interested buyers negotiated with the seller on the price and signed a contract contingent on qualifying. Once the home was under contract, the buyers submitted a complete application to the Housing Department to be qualified. Initial sales prices typically ranged from $300,000 to $550,000. A buyer is chosen by the current owner and their real estate agent, directly. The Housing Department is not involved in this part of the process. Once a buyer is selected, the Housing Department will qualify them to ensure they meet the requirements of the deed restriction.
Restriction Key Points
- Must be below income limit for the category
- Must be below the asset limit
- No set price or appreciation
- Homes are listed for sale by owner or realtor
- Must work full-time in Teton County, Wyoming
- Must occupy the home at least 9 months out of each calendar year
- May not rent the home, but may rent a room as long as the home is still occupied by the owner
- Must be a U.S. Citizen or Lawful Permanent Resident (hold a Green Card)