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Unlike Affordable and Attainable homes, Employment-based homes are not classified into categories. This is because there is no limit to the amount of income or assets that your household can have. However, you must be employed in Teton County at least an average of 30 hours per week. You also must earn 75% of your income from a local business. Once you purchase an Employment-based home, you will need to continue to earn at least 75% of the household's income from a local business.
You are not allowed to own any residential real estate within 150 miles of Jackson, and you may not purchase any residential real estate within 150 miles of Jackson any time you own an Employment-based home. One person in the household must be a U.S. Citizen or a Lawful Permanent Resident at least 18 years of age. To be eligible to purchase, one adult wage earner in the household must have at least two consecutive years working in Teton County immediately prior to applying.
Even though there are no limits to the income and assets a household has, Jackson Teton County Housing Authority (JTCAH) still needs to see where your income comes from and how much you earn to qualify you to purchase. JTCAH policy requires that a household's debt to income ratio must be at 45% or less to qualify to purchase a home.
Your income is the amount you earn before taxes are taken out. The amount you are currently making will be used for qualification purposes. If you are self employed, an average of the past three years will be used including year to date earnings. If you have not been self employed for 3 years, the length of time you have been self employed will be used to calculate your income.
The Housing Authority Deparment needs to see your asset information for other reasons besides value. You are still required to submit tax returns and net asset information in order to get qualified.
Anything you own that is valued above $500 is considered an asset. All bank accounts, stocks, bonds, vehicles, etc. should be counted. Once you add them all together, subtract any debt you have and the result is your net assets.
We do not count retirement accounts as part of your assets unless you are planning to use the money as a down payment on the purchase. If so, this amount will be included in your assets.
The best way to find out when we have homes available is to check our website or look in the Jackson Hole News and Guide. You can also complete an Information Contact Form (PDF) and submit it to our office. We will add you to our email list. We send emails out to everyone on our list every time a home is available. Keep in mind that we cannot guarantee that you will receive e-mails. In the past, some emails have been filtered out or returned to us. We recommend that you check our website every couple of weeks to be sure you are informed about available homes. Available homes are posted on Wednesdays so if you check the website every Wednesday, you will be sure not to miss out on applying for an available home. You are also welcome to call our office at 307-732-0867.
Affordable and Employment-based homes are sold using a lottery process. Homes are advertised on the JTCAH website and in the Jackson Hole News and Guide weekly paper. Lotteries are open for two week periods. When you see a home you are interested in, you will need to enter a lottery. Learn about the lottery process :
If you are chosen, you will be contacted and shown the home. This is when you will decide whether to move forward with purchasing.
There are many parts to submitting a complete application. Please view the Application Checklist (PDF).
There are many things you can do to prepare for purchasing a home, view the Preparing for Ownership page.