The mission of Rural Homes is to provide the local workforce with affordable homes for-sale. The definition of affordability is living in a home where you can spend less than 30% of your monthly income on rent or on a mortgage. With our neighborhoods, that is what we aim to provide to you, and with our preferred lending product, we have found this can be possible.

Rural Homes is a non-profit developer and all our developments are non-profit developments. That means that Rural Homes is not taking a profit on the sale. We are selling the homes for less than they cost to build because we apply grant subsidies to the final sale price. Federal, state and local grants and some private donations helped make these homes more affordable for the homeowner.

Additionally, homes are priced based on size and amenities. For example, a 3-bedroom unit will cost more than a 2-bedroom unit. A unit with a garage will cost more than a unit without one. A larger lot size will cost more than a smaller lot size.

Yes, these homes are deed restricted. A deed restriction is a covenant that controls the use, occupancy, and sale of the property to ensure that the purchaser and all future owners of these homes are qualified, and the homes remain affordable. More info can be found here.

All Rural Homes houses are a modular product. Modular construction is built using the same methods as traditional home construction. Our homes are built by Fading West, a factory in Buena Vista, CO under exact standards and conditions, and then shipped in modules to the development and set on solid concrete foundations. These homes are state of the art, built with engineered wood products and are considered to be equal or higher quality than homes built using regular building methods.

Anyone who is a “Qualified Owner” may purchase a home. The Deed Restriction and Guidelines associated with each home provide the criteria for qualification.

The deed restriction requires that you work for a living.  However, the Housing Authority will work with homeowners to resolve compliance issues that develop from change in family status or loss of a job. Please advise the Administrator as soon as you realize you may have a problem. The Housing Authority may grant exceptions for many circumstances and efforts will be made to help Households during transitional periods.

Yes. Capital improvements approved by the Housing Authority are permitted, a portion of which can be included in the future Maximum Sales Price.

Owners can rent a room upon approval by the Housing Authority and qualification of the renter; the maximum rental rate is set by the Housing Authority. Rental of the entire home may be possible but requires an exception request to the Housing Authority.

Yes, all homes come with an all-electric fridge, stove, dishwasher and washer dryer sourced from an energy star rated manufacturer.

There is no minimum income limit. With a few exceptions, you must work for a living to qualify to purchase or occupy a home. However, these homes are targeted for persons making under 120% Area Median Income in Ouray or San Miguel County.

Please note: your minimum income may be an issue with the mortgage lender.

No, not all bedrooms need to be occupied, one simply must qualify for the Area Median Income (based on household size) restriction to purchase one of these homes.