Numbers
Rent & Cost Comparison
This example uses a typical 2-bedroom, 1-bath home in Historic Norwayne. It is not a promise or offer, but a snapshot based on current local prices, fair market rents, and taxes.
We compare:
- Scenario 1: Renting a Norwayne CLT home
- Scenario 2: Renting a similar home on the traditional market
- Scenario 3: Buying a similar home with a standard mortgage
Example Home
- 2 bed / 1 bath home in Historic Norwayne
- Example market value: ≈ $125,000
- Typical traditional rent in the area: ≈ $1,075 / month
- HUD Fair Market Rent (2BR metro area): ≈ $1,378 / month → CLT rent target at 65% ≈ $896 / month
Move-In Cost & 5-Year Snapshot
| Scenario | Move-In Cash | Approx. Avg Monthly Cost (5 Years) | Approx. Total Paid Over 5 Years* |
|---|---|---|---|
| Norwayne CLT Rental | ~$896 (1st month's rent) | ~$896 / month | ~$53,760 |
| Traditional Lease | ~$3,200 (1st + last + deposit) | ~$1,140 / month | ~$68,400 |
| Buying a Home | ~$10,000 (down payment + closing) | ~$1,060 / month | ~$63,700 in monthly costs + $10,000 upfront |
*Rounded estimates for illustration. Real numbers will vary by property, interest rates, taxes, repairs, and circumstances.
What This Shows
- Norwayne CLT reduces both monthly costs and move-in barriers.
- Over five years in this example, CLT rent is roughly $15,000 lower than a traditional lease.
- Homeownership can build equity but requires higher up-front cash and more risk.
- The CLT model is designed for residents who want stability without taking on a mortgage in a volatile market.