Housing Nantucket has recently released the guidelines for covenant properties for 2021. The maximum home re-sale price is adjusted annually based upon a formula that involves the Area Median Income (AMI) and residential loan interest rates. When interest rates are low, as they are now, the price goes up. The maximum re-sale price is now $888,515. To qualify for the program, the purchaser’s household income must be at or below $175,050 per year with unrestricted assets less than $444,257. There are currently 95 Covenant homes scattered in neighborhoods around the island.