Buy the house, lease the land: New type of ‘affordable housing’ introduced in Fresno

FRESNO, Calif. (KSEE/KGPE) – A new type of housing that a nonprofit says makes owning a home “affordable” is available in Fresno for the first time.

The South Tower Community Land Trust announced that it will be listing the city’s first Community Land Trust (CLT) home on Wednesday.

CLT homes are often more affordable because the homeowner is only buying the house, not the land. The homeowners lease the land from the CLT in a 99-year, renewable lease.

The nonprofit says that if the homeowner decides to sell the home, they must sell it at the same rate they bought it.

The CLT home offered by South Tower is a 2-bed, 2-bath, 796-square-foot home on 517 N. Farris Ave. The listing is going for $215,000, and any buyer under 120% of the area median income is eligible to purchase the home.

According to Realtor.com, the same house sold for $250K in 2024, before it was acquired as a CLT.

CLTs are governed by residents of CLT properties, other community members, and housing professionals. There are over 40 CLTs in California that together serve over 1,600 housing units and 3,500 residents.