Struggling to buy a home? Miami-Dade opens $150,000 down-payment lottery

Homestead - South Dade admin September 1, 2026 0 Comments

Struggling to buy a home? Miami-Dade opens $150,000 down-payment lottery

Wanting to buy a house but struggling to save for a down payment? Applications open Tuesday for a county lottery that will see three families granted $150,000 in down-payment assistance.

The Miami-Dade County Economic Advisory Trust’s new H.O.M.E. program is looking to place eligible households into three newly built townhomes in South Dade.

“For many families, the greatest barrier to homeownership is not the ability to sustain a mortgage, but having the resources needed to get through the front door,” said William “Bill” Diggs, the Trust’s executive director.

Applications open Sept. 1 and run through Sept. 30, or until the county receives 200 qualifying applications — whichever happens first. Applications must be submitted online, and each household can only submit one application.

Qualifying families must earn less than 140% of the area median income — $173,460 for a family of four — and live in the home as their primary residence. Check to see if your household’s income qualifies.

If you submit, you’ll be entered into a lottery, and if you’re selected, you’ll have 60 days to qualify for financing from a lender, like a bank, to buy the house.

The two-story townhomes are located at 11251 SW 216^th St., in the Goulds neighborhood of South Dade.

At 1,800 square feet, two of the units sport four bedrooms and three bathrooms, while the smaller third home has three bedrooms and three bathrooms across 1,400 square feet. None come with homeowners association fees.

Greater Miami is one of the least affordable metropolitan areas in the country, topping even New York City and Los Angeles’ infamously inflated costs of living and locking many would-be homebuyers, particularly younger ones, out of the market.

This story was produced with financial support from supporters including The Green Family Foundation Trust and Ken O’Keefe, in partnership with Journalism Funding Partners. The Miami Herald maintains full editorial control of this work.