In the wake of a recent study ranking D.C. as having the third-highest rent prices in the country, Mayor Muriel Bowser has launched a new program aimed at helping city educators and staffers to purchase homes.
With no income restrictions, Bowser’s arrangement announced in late October with the financial services organization Landed will provide 20 percent — or an up to $120,000 down payment — towards a home through its shared equity down payment program.
The program, which also provides a personalized team that includes a partner agent and a Landed home buying expert, aligns with Bowser’s goal of creating more pathways to homeownership by 2025.
Bowser also announced that based on the results of the National Assessment of Educational Progress, D.C. has become the fastest improving state in the nation and D.C. Public Schools is the fastest-improving urban school district in the nation.
“We became and remained the fastest improving state in the nation by investing in our educators and by making our public schools a top priority citywide,” Bowser said in a statement. “In launching this new tool that will help our educators live in the city they serve we keep those investments and that commitment going.”