BAKER COUNTY, Fla. – First Coast Habitat for Humanity announced a nearly $4 million funding partnership that leaders say will help approximately 100 families achieve homeownership across Northeast Florida at a time when housing affordability remains a growing challenge.
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The investment, made through a partnership with Northern Trust, was announced as the nonprofit celebrated another milestone: the completion of its first home in Baker County.
The organization, formerly known as HabiJax, recently expanded its service area beyond Jacksonville into Nassau and Baker counties and rebranded as First Coast Habitat for Humanity to reflect its broader regional footprint.
“We’ve been in Jacksonville for many, many years, almost 40,” CEO Chris Folds said. “There is a real need for affordable housing not just in Jacksonville but in our whole region.”
The newly completed Baker County home marks the nonprofit’s first closing in the county.
The home’s new owner, Charity Cobb, officially became the first person to purchase a First Coast Habitat for Humanity home in Baker County.
News4JAX spoke with Cobb by phone minutes after she signed the closing documents. She said owning the home will cost less than renting and provide long-term stability for her family.
“Oh absolutely, it is very, very affordable,” Cobb said when asked whether the home would be more affordable than rent. “Just exciting and to be able to have something to leave to my son is amazing.”
Folds said the agreement with Northern Trust involves the securitization of some Habitat mortgages, generating nearly $4 million that can be reinvested into future homebuilding efforts.
“That’s enough money to basically provide the subsidy for 100 families to purchase a home,” Folds said.
The announcement comes as affordability challenges continue to affect residents across Northeast Florida. According to U.S. Census Bureau data, more than half of Jacksonville renters are considered cost-burdened, meaning they spend more than 30% of their income on housing.
At the same time, data from the Federal Reserve Bank of Atlanta shows a household needs to earn approximately $107,000 annually to afford a median-priced home in the Jacksonville area.
Habitat leaders say those market conditions make affordable homeownership programs increasingly important for working families.
The nonprofit is now searching for additional land in Duval, Nassau and Baker counties to support future developments.
“We need land,” Folds said. “We’re searching for land in Baker, we’re searching for land in Nassau, and we’re searching for land in Duval.”
In addition to land, the organization is seeking families interested in purchasing homes through the program.
“If you’re somebody who is paying a lot of rent and you want to maybe save some money, but also own a home and build equity that you can pass on to your children, we would love to talk to people that are interested in affordable homeownership,” Folds said.
First Coast Habitat for Humanity said households with annual incomes as low as $38,000 may qualify for its homeownership program. Homes are sold at their appraised value, which the organization said is typically around $200,000.
More information about eligibility requirements and available programs can be found through First Coast Habitat for Humanity.