1 in 10 Households in Wisconsin spend half or more of their income on housing. 40% of renters and 17% of homeowners are cost-burdened, paying more than 30% of their income on housing.
There's currently a shortage of over 12,5000 affordable and available housing units in Wisconsin. According to the U.S. Census, homeowners have an average net wealth that is 400% higher than that of renters. Home equity represents 81% of net worth for low-income families.
Sometimes you have questions but don't know where to start. Here are a few resources that may point you in the right direction. And always feel free to reach us at 715-350-8575 for more ideas.
What is homeownership and what should I know if I'm just getting started.
United Way St. Croix Valley's 211 is a one-stop connection to the local services including food and utility assistance, housing, mental health services and crisis intervention, elder care, disaster services, substance abuse help, and much more. 211 St. Croix Valley provides free, confidential information and referral to programs in Pierce, St. Croix, Polk, and Burnett counties. Dial 211 in the 715 area code. https://www.unitedwaystcroix.org/211
Chippewa County Housing Authority helps people in 10 Western Wisconsin counties, including Pierce and St. Croix counties, with closing and down payment assistance. The Home Repair Program is a loan program designed to assist low and moderate income households with repairs. Down payment and closing costs assistance for homebuyers may also be available. For more information, visit Housing Authority | Chippewa County, Wi or call 715-726-7933
West CAP works to promote the self-sufficiency of low-income families in the rural communities of west central Wisconsin, operating as an equal opportunity employer and service provider. West CAP continues to help families overcome poverty and achieve economic stability by following its mission. Offering mortgage assistance during the Coronavirus pandemic. https://westcap.org/
FamilyMeans Financial Solutions offers tools and education for people to regain financial stability and reduce unmanageable debt. Financial Solutions serves individuals and families in Minnesota and Wisconsin. https://www.familymeans.org/financial-solutions/
Foundation for Rural Housing helps fill gaps in housing and may be able to help with mortgage assistance. https://www.wisconsinruralhousing.org/
If you have mounting hospital bills, and need help, visit dollarfor.org to see if you can qualify for a reduction in your bill.
If you need help with your mortgage or basic needs during the COVID pandemic, please reach out to resources above or visit the State of Wisconsin's resource center here.