The Town of Nantucket has announced the launch of a new three-year housing preservation program designed to help keep existing year-round rental homes affordable for Nantucket’s workforce and community.
Funded by the Affordable Housing Trust and administered by Placemate, Rooted Renters provides financial incentives to property owners who commit to maintaining qualifying rentals at affordable rates for current and future yearround residents. Unlike programs designed to create new year-round rentals, Rooted Renters focuses on preserving existing rentals that are already housing Nantucket residents.
To qualify, a rental unit must have been rented to year-round tenants for at least the past twelve months. Owners accepted into the program are eligible for incentive payments totaling $18,000 for a whole home or $6,000 for a room in a shared home, issued over three years in addition to regular rent collection. Payments are structured in four installments: $2,700 at sign-up, $2,700 at the end of year one, $5,400 at the end of year two, and $7,200 at the end of year three. The payments progressively increase to encourage long-term participation.
To apply, owners should visit placemate.com/nantucket-rooted-renters and submit a preliminary application form found at the bottom of the page. Applications opened August 24 and will close Friday, October 2, 2026. Placemate will then evaluate submissions, prioritizing the most affordable rentals, and contact selected owners to begin the program.
“Rooted Renters is about protecting the year-round rental housing we already have and recognizing the property owners who make that housing available to our community,” said Kristie Ferrantella, the town’s housing director. “By helping landlords keep rents affordable and providing greater stability for existing tenants, this program is another important tool in our broader effort to ensure that the people who work in and contribute to Nantucket can continue to call the island home.”
The Town of Nantucket has allocated $540,000 in incentives for a first cohort of owner applicants.
