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Homebuyers
Understand the basic steps to becoming a homeowner.
Homeowners
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The Research, Marketing, and Outreach department works to support CHFA’s mission by providing data and research to assist in the organizations decision making. CHFA publishes research on affordable housing and reports on its activities and investments. The Research, Marketing, and Outreach department works to support CHFA’s mission by providing data and research to assist in the organizations decision making. CHFA publishes research on affordable housing and reports on its activities and investments. The Research, Marketing, and Outreach department works to support CHFA’s mission by providing data and research to assist in the organizations decision making. CHFA publishes research on affordable housing and reports on its activities and investments.
This report provides an analysis on CHFA first-time homebuyer lending based on borrower’s race and ethnicity.
This report provides an analysis on CHFA first-time homebuyer lending based on borrower’s race and ethnicity. The report explores potential barriers of homeownership, particularly for potential Black, Hispanic, and first-generation homebuyers.
This brief looks at the current affordable single family housing stock in Connecticut and how it has changed over time. The reports analyzes the impact of the COVID-19 pandemic on homebuying and the additional market pressures on the affordable homeownership stock.
In 2018 CHFA commissioned a Housing Needs Assessment (HNA) to evaluate current and future housing needs in Connecticut. The HNA examines Connecticut’s current housing stock and analyzes the state's gaps for both owners and renters at different incomes levels, housing markets, and levels of economic and social opportunity.
In 2018, the National Council of State Housing Agencies (NCSHA) partnered with the research firm ABT Associates to conduct a national study of the per-unit total development cost (TDC) of projects funded with Low Income Housing Tax Credits (LIHTCs). ABT’s study was national in scope, grouping Connecticut with other New England states and making it difficult to understand how CHFA’s projects compare to ABT’s findings. This analysis replicates ABT’s analysis using data from CHFA’s multifamily portfolio. Some aspects of ABT’s methodology were modified to fit CHFA’s data and better understand per-unit TDC at the state and county level.
Housing affordability has received increasing focus nationwide and in Connecticut. According to the most recent American Community Survey estimates, the median gross rent in Connecticut in 2017 was $1,123 per month, up from $1,044 in 2012. Since 1990, Connecticut’s rental market has seen dramatic shifts. Between 1990 and 2017, Connecticut gained nearly 25,000 rental units priced over $1,000 and lost almost an estimated 8,000 units priced under $600 per month, adjusted for inflation. Units priced under $600 went from making up 22.2 percent to just 16.75 percent of the total rental market, while those priced over $1,000 now make up nearly half of the market. This analysis documents the long-run shifts in Connecticut’s rental market, specifically the decline in lower-cost units and the potential impact that trend has on low- and moderate-income households.
The report details trends in affordability, tenure, housing supply and construction, sales, home values, population and household formation, and other challengers in the housing market.
Traditional measures of residential affordability only consider whether a household pays more than 30 percent of their income on housing, however given the interconnectedness of where people live and work, some have argued for including transportation costs in residential affordability evaluations. As a result, a more complete understanding of affordable housing in Connecticut requires an understanding and consideration of transportation costs faced by the typical worker and by CHFA borrowers and tenants.
The infographic compares housing and demographics in Connecticut’s four largest cities.
When you think of the 1980s you often think of a turbulent decade bookend by the Iran hostage crisis and the fall of the Berlin Wall, or as the decade of big hair and synthesized music. You can be forgiven if residential construction boom does not come to mind. Yes, during the 1980s Connecticut experienced a residential construction boom primarily driven by condominium construction.
In Connecticut, much of the analysis done following the financial crisis has focused on the statewide impact and recovery. Less attention has been paid to individual counties, or the State’s very distinct urban, suburban, and rural communities. This report takes a closer look at how rural towns throughout Connecticut were impacted by and have recovered from the financial crisis by looking at Census data from 2011 and 2016.
We investigate how homeownership in CT is changing by using the Pew Research Center definition for each generation’s age grouping and analyzing data from the Census Bureau. Homeownership among Generation X increased as the youngest of the group became 36 and the oldest reached their 50s. The oldest millennials are 35 in 2016, the most recent year for which there is data. Although Millennial homeownership rates have increased, it’s too early to know if they will keep pace with Generation X. Baby Boomers were primarily middle aged from 2006 to 2016 and their homeownership rate remained consistent. As more of the Silent Generation moved into its 80s, homeownership declined.
This infographic gives examples of jobs within different income categories.
The Home Mortgage Disclosure Act (HMDA) requires many lenders to collect and publically disclose information about housing-related applications and loan. Home mortgage lending is broken up into three categories, home purchase loans, home improvement loans, and refinance loans. Lenders report on all applications they receive, whether they are approved, denied, or withdrawn. Lenders report their past years lending activity by March 1st (e.g. 2016 lending activity was reported on March 1, 2017). The Federal Financial Institutions Examination Council makes the data public the following autumn.
This report provides a review of the single family (1-to-4 units) mortgage lending activity in Connecticut over 2015. The report also uses historical data to determine any trends in single family lending in the state using data collected through the Home Mortgage Disclosure Act (HMDA). This report also compares HMDA data with the Connecticut Housing Finance Authority’s (CHFA) single family mortgage activity throughout the state.