Yale Study Finds that PACE Program Improves Local Home Values

A recent Yale study highlights the positive impact of the PACE program on property values. At Florida PACE, we’re dedicated to providing families with an easy way to finance energy-efficient and storm-protection upgrades with no initial costs. This study demonstrates how Florida communities have strengthened their property resilience and increased home values through our program.

What is the PACE Program?

The Florida PACE (Property Assessed Clean Energy) program provides homeowners across Florida with an affordable way to fund essential home improvements without any upfront costs. The program adds a special assessment to property taxes, making financing and paying for these upgrades easier over time. We’ve helped many families like yours enhance their homes and secure their future. Other advantages of the Florida PACE program include:

Energy Savings: Improved energy efficiency with Florida PACE upgrades can lead to noticeable reductions in utility bills.

Environmental Impact: By funding energy-efficient upgrades through property taxes, Florida PACE helps reduce overall energy consumption, supporting a greener, more eco-friendly future.

Improved Home Safety: Hurricane-resistant upgrades funded by Florida PACE help protect your home and family from storm damage. 

Key Findings from the Yale Study

The Yale study highlights several impacts of the PACE program:

Increased Property Value: Homes with PACE financing saw an average value increase of $81,000 — nearly three times the amount of funding used to finance the improvements. This represents a 27% greater appreciation compared to homes without PACE financing.

Expanding Credit Access: PACE programs are recognized for their ability to “democratize access to credit” by removing traditional credit score requirements and expanding borrowing opportunities. This model operates through a public-private partnership and avoids using taxpayer money.

Increased Tax Benefits: Florida counties with PACE programs received about $664 in additional tax benefits annually per borrower, thanks to a larger tax base.

Increased Mortgage Approval Rates: The study found a 1.5% increase in mortgage approval rates for home purchase financing in counties with PACE programs.

The Impact of PACE Programs

The Yale study shows how PACE programs provide economic benefits to Florida families. By making financing more accessible, PACE helps more homeowners make essential improvements that can increase property values and reduce home insurance premiums. This method not only broadens financial access but also promotes sustainability by funding energy-efficient and eco-friendly home improvements through property taxes.

Creating a Better Future for Florida Residents

At Florida PACE, we provide accessible financing options designed to help you improve your home and invest in your future. Our program simplifies the process of investing in upgrades that protect your property from storm damage and improve its market value. With Florida PACE, you can confidently invest in upgrades that help your home remain safe, resilient and valuable for years to come.

Join us in building a more secure and prosperous future for Florida. Apply for PACE funding today and take the first step towards a safer home.