Will this home always have to be affordable and how much will the home go up in value?

Yes, the home is part of the City’s permanently affordable housing stock, so it will remain permanently affordable. 

The home value will increase each year by the lesser of the Consumer Price Index for wage earners (CPI-W) or 3% per year, calculated as simple interest. For example, if you owned the home for 10 years and the home value increased by 3% per year, the value would be the home price you purchased it for plus 30% (3% x 10 years). Keep in mind, it may increase by less than 3% if the CPI is less than 3%.

Show All Answers

1. If I already registered with Boulder County, do I have to fill out a Lafayette application?
2. How do I apply?
3. Where do I submit my application and materials?
4. Will you give me back my application materials?
5. How long will the review take?
6. How will I know whether I am qualified?
7. Do I have to live/work in Lafayette to qualify?
8. Where can I find the current income limits?
9. Where can I find the Community Housing Guidelines?
10. Will this home always have to be affordable and how much will the home go up in value?
11. Do I need to check the status of my application?
12. What if my application is not complete?
13. What if I don't qualify?
14. What if I qualify but my offer on the home was not accepted?
15. Questions still not answered?