The federal government is considering a land grant program for low-income homeowners that would help them purchase their own homes, according to a new study.
The study, released Monday, finds that some 4.5 million homeowners are eligible for the program, which would allow them to buy a home with cash from the government or an installment plan that pays back part of the purchase price.
It found that more than one-quarter of homeowners with lower-income incomes received a federal subsidy for the first time in the past five years.
The analysis found that the average subsidy paid out to homeowners in 2015 was $2,638 per person, while the average for homeowners with incomes of more than $75,000 was $3,764.
The average subsidy for those with incomes above $75 for those earning less than $50,000 per year was $5,904.
The research, conducted by the Federal Housing Finance Agency and the National Low Income Housing Coalition, was based on a government database that covers all mortgage applications in the United States.
It found that in 2015, the average amount a homeowner had to pay in federal tax was $8,636.
That’s down from $10,064 in 2009.
The median value of a home purchased for $50 million or more in 2015 in the 10 states where the data was available was $1.7 million, according the study.
That is a 17 percent decrease from the median value in 2009, when the study looked at all mortgages, and the lowest median value was $4.9 million in 2010.
The average amount paid out for the average $50-million-plus home in 2016 was $9,965, the study found.
The federal government has been encouraging homeowners to buy their own home in the face of low interest rates.
But a lack of affordable homes in many cities and counties has led many to think of buying a home as a last resort.
Some people have even considered turning to Craigslist to find their next home.
The Federal Housing Administration said it will review the study to determine whether the federal government should provide financial incentives for buying homes in the near future.