The second episode of Econo-Mía features an interview with Renee Perkins, a Washington, DC resident who worked with LEDC's housing team to purchase her first home through the HPAP and IZ programs.
Purchasing a home in the District is becoming less obtainable for many aspiring homeowners. The median home price in the DC-metro area was $570,000 in May 2021. Factor in the economic setbacks from the COVID-19 pandemic, and the process becomes even more difficult.
Econo-Mía's second episode interviews Renee Perkins, one of LEDC's homebuying clients. Renee Perkins is a DC resident who purchased her first home using the Inclusionary Zoning Program (IZ) and the Home Purchase Assistance Program (HPAP).
HPAP provides interest-free loans and closing cost assistance to eligible applicants seeking to purchase single-family houses, condominiums, or co-op units in the District. IZ requires that a certain percentage of homes be set aside as affordable in order to increase homeownership opportunities for low and moderate income buyers.
Our interview with Renee Perkins demonstrates that despite the rising costs of homes in the District, programs are available to make buying a home more accessible for residents.