ANDP Homeownership: Creating Economic Opportunity
Study update shows $36M in wealth gains by ANDP homebuyers
In August 2019, ANDP examined its homebuyer records in order to better understand our impact on the families and communities we've served since the beginning of the foreclosure crisis.
In response to the changing housing market, ANDP revisited its 2019 wealth study with the addition of ANDP homebuyers served between 2018 and 2021.
In 2021 we found that homebuyers who have remained in their homes for five years or more have each gained an average of $135,421 in home equity gains.
Since 2010 homebuyers’ average income has remained stagnant around $40,000 per household, whereas average home prices have increased 65% to almost $190,000. Meanwhile, average monthly mortgage payments have gone from approximately $500 per month in 2010 to over $700 in 2021
ANDP is more committed than ever to shrinking the homeownership divide and rebuilding wealth for communities of color. Beginning in 2020, ANDP has embarked on a five-year plan to create or preserve at least 2,000 units of affordable housing in predominantly Black neighborhoods across metro Atlanta. Our plan will help create affordable homeownership opportunities for at least 500 families, while also providing down payment assistance to overcome barriers to entry for first-time homebuyers.
Read the Full 2019 Report | See 2021 update to the right >>