Affordable Housing

Trolley_CPA Housing

Community Preservation Act (CPA) funds for affordable housing are allocated to the Cambridge Affordable Housing Trust and are used by the Trust to preserve or create affordable housing through financing:

  • Preservation of affordable housing with expiring use restrictions;
  • Acquisition of existing buildings;
  • New construction and conversion of commercial, industrial and other non-residential buildings;
  • First-Time Home Buyer's Financial Assistance programs;
  • Revitalization of state-assisted Public Housing.

Continued Need for Affordable Housing:

  • Despite the preservation of affordability at 6 properties with 423 units since 2011, there remain 670 affordable units' restrictions which will expire by 2020.
  • There are 9,315 distinct households on the Cambridge Housing Authority (CHA) waiting lists for affordable rental housing; there are 992 applicants currently in the Community Development Department (CDD) rental and homeownership applicant pools.
  • In order to afford the median market asking rent of $3,000 for a two-bedroom apartment in Cambridge, a two-earner household being paid Cambridge’s living wage would each have to work more than 78 hours per week to afford the rent.
  • The median market price for condominium in Cambridge was $510,000 in  2013, which would require an income of more than $123,000 per year to purchase without a significant down payment.

Median Market Asking Rents September 2013:

  • 1 bedroom $2,385
  • 2 bedroom $3,000
  • 3 bedroom $3,200

Who are CPA Funds Serving?

Rental Housing

Homeownership

Online Services

Contact Information

Chair - Lisa Peterson,
Deputy City Manager

Principal Budget Analyst - Angela Pierre

Budget Office - 617-349-4267

Sr. Management Analyst - Karen Preval

City Manager's Office - 617-349-4221

795 Massachusetts Ave
Cambridge MA 02139

Phone:617.349.4300
TDD:617.349.4242

Hours of Service

Monday: 8:30am-8pm
Tuesday-Thursday: 8:30am-5pm
Friday: 8:30am-12pm