According to a 2015 Nantucket Workforce Housing Needs Assessment, the island has an undeniable shortage of affordably priced housing for a large number of people who work on Nantucket. This shortage, which deeply impacts young workers and young families, often adversely affects islanders’ quality of life and makes it difficult to attract and keep those who work in specialized positions.
Of the island’s 11,650 housing units, 64 percent are seasonal and 36 percent are year round with 55 percent of homeowners struggling to pay for their homes. In addition, Nantucket’s supply of year round and seasonal rentals is very limited and roughly 40 percent of the island’s renters struggle to pay for their housing.
In 2015 the median home price on Nantucket was $1.2 million and the median family income was $92,800. The assessment concludes that, “Home ownership is prohibitive for 90 percent of the island’s year round households.”
Whether you are looking for housing assistance or would like to discover more about Nantucket housing options, here you will find a collection of local resources and materials for locating, renting, or buying an affordable home.