PALM BEACH COUNTY, Fla. — WPTV has been working to help you navigate the housing crisis as many of you tell us it's been a tough time financially.
Areas like Palm Beach County have been working on creating more affordable rental and transitional options but we wanted to see what's being done for people trying to buy and own their first home.
WATCH: Housing and Economic Development director tells WPTV how the county is helping people attain homeownership
"Even though I'm doing well financially, a single income household is definitely really challenging, especially in Palm Beach County, to afford a place for the first time," said Drew Brasiel. "I think it's attainable, it just takes a lot of discipline, financially."
Brasiel is a renter and said he's been searching for a place to buy so he can settle his roots with his wife to-be.
"I look pretty frequently. I like to window shop when I can, just to kind of plan out the vision of what I want to be able to afford in the future," said Brasiel.
He's a small business owner and has been budgeting his money as the median cost for a house in the area is half a million dollars according to numbers by RedFin.
I turned to Jonathan Brown for solutions. He's the director of Housing and Economic Development in Palm Beach County.
"The need has gotten bigger, but the challenge is that the housing costs grown," said Brown.
The county has $10,000,000 in state funding to help people trying to purchase their first home.
Each person that qualifies will have up to $100,000 they can receive to use towards acquisition, new construction, down payment and closing costs.
"When you think about the industries here in Palm Beach County, there are some very key industries in the county, but they're not high paying industries," Brown said. "So, how do we keep those individuals and those families in the county? It's programs like this."
He said funds are offered twice a year on a first-come, first-serve basis.
Real Estate News
Purchase assistance funding available for first-time homebuyers in this county
Brown said the applications for the funds used to be open for weeks, but in the last 2 to 3 years, they've filled up within an hour of the spots being available.
"Homeownership is the American dream," said Brown. "We want to see people have that opportunity for homeownership."
He said the county is working to increase the amount of funds available as the amount is based on funding availability.
WPTV's Joel Lopez learned if you receive the funds, you are required to have to live in the house as your primary residence. The funds are forgivable loans if the residents stay in the home for at least 30 years.
Otherwise if you move out, homeowners can keep the equity, but the loan will go back to the county and reinvested into another homebuyer in need.
Applicants are required to have a first mortgage loan approval from a lender before applying.
Applications open online starting May 5 but there will be preapplication orientations this month with more details into the program.
"$100,000, what would that mean for you?" asked Lopez.
"It would mean a lot and it definitely could help out," said Brasiel. "I can't think of a better place to raise a family."