Model

How Our Rent Works

The Basic Structure

  1. Norwayne CLT acquires homes in the Historic Norwayne neighborhood.
  2. The CLT holds the land in trust for community benefit.
  3. Homes are brought up to a safe, energy-efficient standard.
  4. Rents are set at roughly 65% of HUD Fair Market Rent for comparable units.
  5. Rent increases over time are limited and tied to real costs.
  6. Any surplus funds go into a Community Wealth Fund for future homes and projects.

Stability by Design

Instead of raising rent to match whatever the market will bear, Norwayne CLT focuses on stability:

  • The “core” portion of rent is kept as predictable as possible.
  • Increases are tied primarily to changes in property taxes and required fees.
  • Residents gain confidence to build their lives without constant housing shocks.

To see how this compares with a traditional lease or buying, visit our Cost Comparison page.

© Norwayne Historic District CLT