2021 Nantucket Housing Needs Covenant Guidelines

Sunset Madaket 2020 PDHousing 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.

2021 Nantucket Housing Needs Covenant Guidelines

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