About one-third of Colorado households are struggling with housing costs, says a report from Mile High United Way.
“The median single-family home price in Denver was $699,750 in February 2026, up 2.9% since the pandemic began,” it said. Hannah Jonessenior economic research analyst at Realtor.com®. “In terms of price per square foot, single-family homes in Denver saw prices increase by 25.2%, from $302 in February 2020 to $378 in February 2026.”
These rising costs make home ownership a challenge. “High house prices combined with high interest rates have made it very difficult for first-time buyers to enter the market,” Tania Carter of Keller Williams in Denver tells Realtor.com.
Therefore, Carter has made it his mission to help people find affordable housing.
He works with the Elevation Community Land Trust (ECLT), a non-profit organization dedicated to creating permanent affordable homeownership opportunities throughout Colorado.
“They work under a community framework called Community Trust land, where the land is owned by the trust while the house itself is sold to the buyer at a reduced price, making it possible for the home owner,” said Carter. “Partnering with ECLT has allowed me to align my business with my purpose—as I help people not only buy a home, but start building wealth through real estate.”
Carter says programs like ECLT—Colorado’s biggest hope for public land—give buyers a real chance to achieve home ownership, live in quality homes and neighborhoods, and have a monthly payment they can truly afford.
“The public land trust model provides a powerful way to increase affordability by lowering the value of land in homeownership, effectively protecting housing stock from volatile appreciation that often drives out low- to moderate-income residents,” Jones said.
“However, this stability comes at the cost of wealth creation potential, as equity resale restrictions limit a homeowner’s ability to capture the full benefits of the market in exchange for a lower entry price and long-term community benefit.”
What is a public housing fund?
Non-profit housing organizations known as community land trusts bring together money from private donors and government sources to purchase housing. These groups find everything from newly built homes to older ones that need renovation, and restore the latter to habitable condition.
The model works by distinguishing who owns the building and who owns the property under it. The corporation has been able to control the land itself—often under a 99-year arrangement—significantly lowering what a qualified buyer pays for the home it sits on.
Residents in these programs are halfway between renters and traditional landlords. They pay a $100 monthly land lease, are fully responsible for daily maintenance, and have extensive independence in their living space. Major structural changes, however, require exiting the trust, and any lease of the property comes with its own set of rules.
The trade-off between this plan involves future profits. Before they take ownership, buyers agree to a formula that limits how much of the home’s increased value they can pocket when they eventually sell. The rest stays connected to the property, ensuring that subsequent buyers face the same reduced prices—keeping affordability baked in forever rather than treating it as a one-time benefit.
Who are eligible?
Income-restricted ECLT programs are intended for consumers earning up to 80% of the Area Median Income. “This building ensures that housing remains affordable not only for current buyers but also for future homeowners, due to the sale restrictions of this plan,” said Carter.
Participants must qualify with accredited lenders familiar with the ECLT process and complete a home buyer course, which walks them through the program’s requirements and benefits.
“Since this is a public land trust model, there are resale restrictions to ensure that the home remains affordable for future buyers,” explained Carter. “It is important that consumers understand both the benefits and the long-term structure of the program.”
By 2025, 127 people move into ECLT homes.
Studios offered at low prices
Carter says he is currently selling studio units priced around $158,000 near downtown Denver in the Santa Fe Arts District. “These houses started to be built in 2020, and these houses are currently being sold to the first owners,” he said. “Currently, there are about nine studios available, with prices ranging from about $150,000 to $159,000.”
These studios come equipped with a full size washer and dryer, a Murphy bed, and bike storage in the lobby.
According to Carter, this price point is extremely rare in today’s market, especially given the location.
“The monthly payment is about $939.96, based on an estimate from one of my favorite lenders—including property taxes and HOA fees. You can’t even rent a room for that price in downtown Denver.”
Carter says that’s what makes these studios a great choice for many tenants in the area.
“Buyers have the opportunity to own instead of rent, often at the same or lower monthly cost,” he said. “Buyers can move into these studios with as little as $1,000 down and deposits of up to $2,000. Additionally, lenders may help cover closing costs.”
Carter says that when you compare that to renting—where tenants typically have to pay the first month’s rent and a security deposit up front—home ownership through this program becomes an affordable and attractive option.
According to Carter, many potential buyers are skeptical.
“Sometimes, I get calls from buyers who are moving to Denver and they feel like it’s too good to be true,” he says. Unfortunately, some of them think that this program is a scam.
Carter says, because of the land lease model, buyers don’t have to pay PMI, which helps keep monthly payments even more affordable. “In addition, many accredited lenders offer very competitive rates on these units. One bank I work with offers 5.375% to qualified buyers.”
‘Doors to Opportunity’ program
ECLT also offers a program called Doors to Opportunity that allows qualified buyers to purchase a home at an above market price while financing only a portion. The program provides $50,000 or more in down payment assistance, helping buyers secure a home on the open market.
“For example, I recently worked with a client who went through a divorce and had to sell her house because of a court order,” said 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 received a $220,000 grant, with a monthly payment of approximately $1,800.”
This system can be used for new construction.
“I had another client who bought a home with Lennar in Watkins, CO,” Carter said. “In fact, buyers can live in a $380,000 home while financing only about $160,000, making homeownership more accessible. It’s a powerful and very attractive option for many buyers in today’s market.”
Although Carter earns a lower than normal commission on these ECLT homes, he says the reward for helping someone achieve home ownership far outweighs the financial aspect of the job.
“I truly believe that home ownership changes lives,” he said. “It creates stability, builds generational wealth, and strengthens communities. Being able to guide someone on that journey, especially when they think it’s impossible, is incredibly rewarding. That’s what drives me every day.”
