City of Menlo Park’s Below Market Rate Homeownership Program
Hello Housing is pleased to be administering the home sales and Purchase Waiting List for the City of Menlo Park’s Below Market Rate (BMR) Housing Program. Homebuyers who previously benefited from the City of Menlo Park’s Below Market Rate program can pass along the opportunity to the next owner when they sell their home. This ensures that there will be affordable housing available for future generations of Menlo Park residents. For a detailed description of the BMR program, please see the Below Market Rate Housing Program Guidelines.
Current Homes for Sale
There are no homes currently for sale. You must be on the City’s BMR Purchase Waiting List to learn about future opportunities as they arise. Please see the information below to find out if you qualify for the BMR Program and how to apply for the Waiting List.
BMR Purchase Waiting List
Hello Housing is maintaining a waiting list of persons interested in purchasing a BMR home. To apply to be on the BMR waiting list, first read the BMR Housing Program Introduction, and then complete the BMR Waiting List Application.
To be eligible for the BMR waiting list,you must currently live* or work in Menlo Park and qualify by income (please see the Program Income Limits chart).
*Please Note: While you must currently live or work in Menlo Park, you do not need to have lived or worked in Menlo Park for at least one year in order for your name to be placed on the waiting list. However, you will have to meet the one year requirement at the time of applying for a home purchase opportunity. Please also note the information below on Displaced Households and Unhoused Persons who may qualify for an exception to the requirement to currently live or work in Menlo Park.
Please return your completed BMR Waiting List Application to Hello Housing by mailing to:
Hello Stewardship – MP BMR Waitlist
1242 Market Street, 3rd Floor
San Francisco, CA 94102
Applicants who have an email address are notified of their eligibility to be on the waiting list by email. For those who do not provide an email address, notification will take place by mail. Please note that being placed on the waiting list does not mean that you have applied for a specific home. If placed on the waiting list, you will be informed about the application process when BMR homeownership opportunities arise that your household may qualify for.
Hello Housing follows up with waiting list members annually to request updated household information in order to confirm eligibility to remain on the list.
On June 19, 2018, the City of Menlo Park amended its Below Market Rate Housing Program Guidelines to allow for certain households who have been displaced from the City of Menlo Park to be exempt from the requirement to live or work in Menlo Park in order to be eligible for the BMR Purchase Waiting List and/or BMR Rental Interest List. In order to qualify as a Displaced Household, your household must meet all of the following criteria:
1. Your household resided in the incorporated limits of the City of Menlo Park in 2008 and was subsequently displaced from such housing.
2. Your displacement was due to economic conditions beyond your control (including but not limited to job loss, rent increase, eviction, foreclosure, or other form of economic hardship resulting in loss of housing).
3. You have filled out and signed the an Household Displacement Affidavit and attached evidence of displacement as listed in the Affidavit form.
On June 19, 2018, the City of Menlo Park amended its Below Market Rate Housing Program Guidelines to allow for unhoused persons to demonstrate local residency in order to meet the requirement to live or work in Menlo Park to be eligible for the BMR Purchase Waiting List and/or BMR Rental Interest List. In order to qualify as an Unhoused Person to meet the City’s the live/work requirement, your household must meet the following criteria:
1. Your last permanent residence was located in Menlo Park, OR
2. You currently reside in Menlo Park in a place or structure other than a bona fide dwelling unit (i.e. vehicle or tent), AND
3. You have submitted a completed BMR Waiting List Application to Hello Housing for processing, along with supporting documentation to demonstrate that you meet the eligibility guidelines for Unhoused Persons (examples of acceptable documentation are listed on the BMR Waiting List application).
Program Income Limits (effective 2018)
|Income Limits: 120% of
Area Median Income (AMI)