How Denver is offering a new path to homeownership

Nearly a third of Colorado households are seriously burdened by housing costs, a report from Mile High United Road reveals.

“The median price for single-family homes in Denver was $699,750 in February 2026, up 2.9% since pre-pandemic,” says Hannah Jonessenior economic research analyst at Realtor.com®. “On a price per square foot basis, single-family home prices in Denver increased 25.2%, from $302 in February 2020 to $378 in February 2026.”

These rising costs make home ownership increasingly challenging. ‘Higher house prices combined with higher interest rates have made it much more difficult for first-time buyers to enter the market’ Tania Carter by Keller Williams in Denver tells Realtor.com.

That’s why Carter has made it her mission to help people find more affordable housing.

She works with the Elevation Community Land Trust (ECLT), a nonprofit organization committed to creating permanently affordable homeownership opportunities in Colorado.

“They operate on a community land trust model, where the land is owned by the trust, while the house itself is sold to the buyer at a discounted price, making homeownership possible,” says Carter. “Partnering with ECLT has allowed me to align my business with my purpose as I help people not only buy a home, but build wealth through real estate.”

Carter says programs like ECLT – Colorado’s largest community land trust – give buyers a real opportunity to achieve homeownership, live in quality homes and neighborhoods, and get a monthly payment they can truly afford.

“The community land trust model provides a powerful mechanism for increasing affordability by decoupling land value from homeownership, effectively protecting the housing stock from the volatile appreciation that often displaces low- and moderate-income residents,” says Jones.

“However, this stability comes at the expense of traditional wealth-building potential, as restrictions on shared equity resale limit a homeowner’s ability to realize full market gains in exchange for the lower entry price and long-term community benefit.”

What is a community land trust?

Non-profit housing organizations, known as community land trusts, raise money from both private donors and government sources to purchase housing. These groups acquire everything from new construction homes to outdated homes in need of renovation, returning the latter to a livable condition.

The model works by distinguishing between who owns the structure and who owns the land beneath it. The organization retains control of the land itself – usually under a 99-year agreement – ​​dramatically reducing the costs a qualified buyer pays for the home on top.

Residents in these programs are in the middle between renter and traditional homeowner. They pay a monthly lease fee of $100, bear full responsibility for daily maintenance and have extensive autonomy over their living space. However, larger structural changes require the trust’s approval, and each property rental has its own rules.

The trade-off at the heart of the arrangement concerns future profits. Before buyers become owners, they agree to a formula that limits how much of a home’s increased value they can pocket when they eventually sell. The rest remains tied to the property, leaving subsequent buyers with the same reduced prices, permanently ingraining affordability rather than treating it as a one-time benefit.

Who is eligible?

ECLT’s income-restricted programs are aimed at buyers earning up to 80% of the region’s median income. “This structure ensures that homes remain affordable not only for current buyers, but also for future homeowners, thanks to the program’s resale restrictions,” Carter says.

Participants must qualify with approved lenders experienced in the ECLT process and complete a homebuyer education course, which guides them through the program’s requirements and benefits.

“Since this is a community land trust model, there are restrictions on resale to ensure the home remains affordable for future buyers,” Carter explains. “It is important that buyers understand both the benefits and the long-term structure of the program.”

In 2025, 127 people moved into ECLT housing.

Studios offered at competitive basement prices

Carter says she is currently selling studio units priced around $158,000 near downtown Denver in the Santa Fe Art District. “These homes were originally built in 2020 and the units currently on the market are resales from the original owners,” she says. “Currently there are approximately nine studios available, with prices ranging from approximately $150,000 to $159,000.”

These studios are equipped with a full-size washer and dryer, a rollaway bed and bicycle storage in the lobby.

According to Carter, this price is extremely rare in today’s market, especially considering the location.

“The monthly payment is approximately $939.96, based on estimates from one of my favorite lenders, including property taxes and HOA fees. You can’t even rent a room in downtown Denver for that price.”

Carter says this is what makes these studios such a great option for many renters in the area.

“Buyers have the option to buy instead of rent, often at the same or even lower monthly costs,” she says. “Buyers can enter these studios with as little as a $1,000 down payment and approximately $2,000 in reserves. Additionally, lenders can help cover closing costs.”

Carter says that when you compare that to renting – which typically requires tenants to pay the first month’s rent plus a security deposit upfront – homeownership through this program becomes a very accessible and attractive option.

According to Carter, many potential buyers are skeptical.

“Sometimes I get calls from buyers who are moving to Denver and they think it’s too good to be true,” she says. “Unfortunately, some of them think this program is a scam.”

Carter says that because of the land lease model, buyers don’t have to pay PMI, making monthly payments even more affordable. “Additionally, many of the approved lenders are offering very competitive rates on these units. One bank I work with is offering 5.375% to qualified buyers.”

Program ‘Doors to Opportunity’

ECLT also offers a program called Doors to opportunities allowing qualified buyers to purchase a home at a higher market price while financing only a portion of it. The program offers $50,000 or more in down payments, allowing buyers to secure a home on the open market.

“For example, I recently worked with a client who was going through a divorce and had to sell her house due to a court order,” says Carter. “She applied for the program and was approved for $160,000. Through Doors to Opportunity, she was able to purchase a home valued at $380,000 and receive $220,000 in grants, with a monthly payment of approximately $1,800.”

This program can also be used for new construction.

“I had another client who bought a house with Lennar in Watkins, CO,” says Carter. “Essentially, buyers can live in a $380,000 home while financing only about $160,000, making homeownership significantly more accessible. It is a powerful and highly attractive option for many buyers in today’s market.”

Although Carter earns a flat fee that is less than a typical commission for these ECLT homes, she says the reward you get from helping someone acquire their own home far outweighs the financial aspect of the transaction.

“I truly believe that homeownership changes lives,” she says. “It creates stability, builds generational wealth and strengthens communities. Being able to guide someone on that journey, especially when he or she didn’t think it was possible, is incredibly rewarding. That’s what drives me every day.”