About our Partnership

In Central Illinois, thousands of families are struggling with unaffordable,
unsafe, and overcrowded housing. With help from events like this, Greater
Peoria Habitat breaks down the barriers to first-time homeownership for local
families in need of a safe, affordable place to live. This May, Komatsu will
help raise the walls of one brand new affordable homes in Peoria’s
neighborhood.

Peoria is amid an affordable housing crisis where the average cost to rent is
more than $900/month, while the average cost to own is more than $1600/
month. This rising cost of housing has created a community where one in
three Peoria renters are currently spending half or more of their income on
housing. With your support, we will help families build stability, equity, and
financial independence through affordable homeownership. No down
payment is required for a brand-new Habitat home and the typical mortgage
payment is between $600-$800/month. Families also receive financial
education and home maintenance courses to help prepare them to be
successful first- time homebuyers.

Homeownership has proven key to generational wealth building in America.
U.S. homeowners have an average net wealth that is 400% higher than that of
renters with similar demographics and earnings. Yet, local families earning
below Peoria median income are often met with barriers to homeownership
like the ability to afford a down payment or gain access to an affordable loan.
This has led to staggeringly low rates of homeownership in areas like
Harambee, where currently only 22% of residents own the home, they live in.
Homeownership has a ripple effect beyond the walls of one family's home
and into their community. In 2021 alone, Peoria Habitat homeowners
contributed more than $909,000 in property taxes. These fund local services
like education, transportation, emergency, parks, recreation, and libraries.
Together, with your support, we will work together with local families to
break the cycle of unaffordable housing and fulfill our mission to build
homes, communities, and hope.