• The yearly income needed to purchase a median-priced home on Cape Cod is $105,000¹ and yet the median yearly income for a four-person household is only $66,800² — a deficit of nearly $40,000.
• In the last few years, the average home price has increased 97%, while wages have increased only 19.8%.
• Cape and Island residents overwhelmingly feel (91%) that the cost of housing prevents young families from living in the community in which they grew up.³
• Approximately 41% of Cape and Island residents found that their monthly housing payment made it difficult for them to make ends meet.³
• 40% of Cape and Island residents have considered or know someone in their family who has considered moving out of state due to housing costs.³
• A majority of Cape and Island residents believe that the cost of housing is:
• Hurting the economy (77%)
• Preventing elderly residents from remaining in their communities (76%)
• Preventing municipal workers from living in the towns that they serve (57%).³
• More than two-thirds of Cape Cod residents (72%) favor smart growth policies, although a strong majority (66%) is also concerned about funding housing development in existing city or town centers at the expense of suburban or rural areas.³
• The Cape Cod Employer Assisted Housing Program is the first regional assisted housing program in Massachusetts and will enable the Housing Assistance Corporation (HAC) to leverage a collective $500,000 from state and local matching funds to lessen the financial burden of the individuals who work and live on the Cape.
• Employees of businesses participating in the Employer Assisted Housing Program can use up to $5,000 for first and last month rents and security deposits or up to $10,000 for down payment assistance and closing costs on a new home, pending eligibility.

¹ Banker & Tradesmen
² Cape Cod Commission
³ UMASS Donahue Institute/CHAPA, “Housing Poll 2006,” February 2007