If you work in Teton Valley, this is for you.

• Your work

  You work for, or are retired from, a qualified employer in Teton Valley, Idaho or Alta, Wyoming. Households unable to work due to disability also qualify.

• Your income

  Your household income falls below the threshold in the program guidelines, currently 200% AMI (Area Median Income). The figure is based on HUD data and updated every year.

• Where you live

  The home will be your primary residence, and you do not own other residential real estate in the area.

02The criteria · in detail

Five requirements, spelled out.

Every question in the application maps to one of these. Read them first, and if any one looks like a problem for your household, contact us rather than guessing.

1. 01

   Local employment: 1,400 hours a year

   At least one adult in the household works at least 1,400 hours per year for a Qualified Local Employer, at a physical location in Teton County, Idaho or Alta, Wyoming. A Qualified Local Employer is any organization with a physical presence in Teton Valley and a local business license where one is required, for-profit or not, including schools, churches, and government.

   Also qualifies: An accepted job offer for 1,400+ hours; self-employment at a physical location in the valley; retirement after age 62 with at least five years of local employment; or a household unable to work due to disability.

2. 02

   Household income under the ceiling

   Combined household income from all adults and all sources must fall below the threshold in the program guidelines, currently 200% of Area Median Income (AMI) for a three-person household in Teton County, Idaho. The figure comes from HUD data and is updated every year.

   Also qualifies: Income counts wages, self-employment, support payments, investment income, Social Security, SSI and SSDI, and bonuses.

3. 03

   The home is your primary residence

   All household members live in the unit as their sole and exclusive residence at least nine of every twelve months, for as long as you occupy it. QWHIP homes cannot be second homes, investment properties, or short-term rentals.

   Also qualifies: Documented absences for medical care, military service, or seasonal work assignments are reviewed case by case.

4. 04

   No other residential real estate nearby

   Your household owns no residential real estate in Teton County, Idaho or the adjacent counties: Fremont, Madison, and Bonneville in Idaho, and Teton County, Wyoming. This applies for as long as you occupy the home, not just at application.

   Also qualifies: If you own a home in those counties now, you may still apply, but you will need to sell it before occupancy.

5. 05

   Funds in place to rent or buy

   Renters show they can cover first month, last month, and a deposit. Buyers show a lender pre-approval sufficient for the purchase price and funds for a 5% down payment.

   Also qualifies: Nothing is submitted with your application. These are certifications, verified only if you are selected.

03Deed restriction · how it works

What is a deed restriction?

A deed restriction is what makes a QWHIP home affordable, and what keeps it that way. You buy or rent well below market, and the home stays within reach for the local household who comes after you. Here is what that means in practice.

• Your price is set below market

  Rentals are priced for an 80% AMI household and ownership units for 120% AMI. On the ownership side, resale price is capped too, so your equity grows steadily rather than at market speed.

• Local employment continues

  At least one household member keeps meeting the employment criteria for as long as you occupy the home, which is what reserves these homes for working households.

• It is a home, not an investment

  The unit is your sole and exclusive residence, occupied at least nine of every twelve months. No second homes and no short-term rentals.

• The affordability is permanent

  The restriction does not expire when you leave. Every household after you qualifies the same way, so the home keeps serving the workforce for good.