Calif. Cities Selling Housing Lots for One Dollar Each – NMP Skip to main content

Calif. Cities Selling Housing Lots for One Dollar Each

Feb 09, 2018
The California cities of San Diego and Lemon Grove have announced plans to sell lots for $1.00 each to a nonprofit land trust that will use the land to construct residential property for middle-class families

The California cities of San Diego and Lemon Grove have announced plans to sell lots for $1.00 each to a nonprofit land trust that will use the land to construct residential property for middle-class families.
 
According to a San Diego Union-Tribune report, the maximum prices for the new three- to four-bedroom houses to be built on the lots will be $350,000. One project involves 16 lots on vacant land in the town of Nestor, near the Mexican border, while another has nine lots located next to state Highway 94.
 
However, the new homeowners will not own the land where their houses are located. Instead, households will buy the homes but lease land underneath. Home sales can only be made to buyers who meets the income requirements set up for this program—in this situation, sales prices are tied to 120 percent of the area median income or less, which would be an income of up to $102,750 for a family of five.

 
About the author
Published
Feb 09, 2018
Strong Jobs Report Threatens Mortgage Rate Rally

October hiring more than doubled expectations, pushing Treasury yields higher

Nov 06, 2026
Fed Holds Rates, But Pricing Pressures Persist

Rising Treasury yields and fresh inflation data complicate rate locks, borrower qualification, and lender margins as markets anticipate another hike in December

Oct 29, 2026
Zippy Adds Capital For Manufactured-Home Lending Push

The $20 million investment from Saluda Grade will support expansion beyond 27 states and new loan products across wholesale, retail, and community channels

Oct 16, 2026
Inflation Hits 3.7%, Putting Mortgage Rate Relief At Risk

September’s inflation pickup puts recent rate improvements at risk, potentially eroding affordability gains from lower home prices and seller concessions

Oct 14, 2026
PLACE Acquires Ardley, Expanding Push To Turn Existing Borrowers Into New Loans

The latest deal connects borrower retention technology with Maxwell's origination platform and PLACE's real estate network, creating new opportunities for lenders

Oct 09, 2026
Equifax, TransUnion Launch New Tools To Cut Credit Report Costs

Both bureaus introduce ways to purchase credit scores separately from reports, while Equifax reports growing VantageScore adoption and extends $1 pricing through 2028

Oct 09, 2026