HOME-SF Affordability Requirements
What are HOME-SF's affordability requirements?
Project sponsors that choose HOME-SF are required to offer 30% of units in their housing project at prices or rents affordable to low, middle and moderate-income families. Individuals and families can qualify for these units based on their income, measured in percent of Area Median Income (AMI). Currently, the affordable units are required to be affordable to the following income categories:
12% of units at 55% AMI
9% of units at 80% AMI
9% of units at 110% AMI
12% of units at 80% AMI
9% of units at 105% AMI
9% of units at 130% AMI
What is Area Median Income (AMI)?
The current (2017) AMI in San Francisco is $115,300.
Half of all households in San Francisco earn less than this AMI and the other half of households earn more. AMI is set each year by the US Department of Housing and Urban Development (HUD) and is based on household size and the income households earn in the area. The City uses these annually published income limits to inform its various housing programs.
The total of all salaries earned by all people living in the same home equals the household's total annual income.
See the Mayor's Office of Housing and Community Development for more information about who qualifies for affordable housing.
Who qualifies for affordable units in HOME-SF projects?
Eligibility for affordable units is determined by a household's a) size (number of people in the household) and b) income (amount of income earned by all members of the household).
Below is a sample table of income ranges that would qualify households of various sizes for affordable units in HOME-SF projects. Please see the Mayor's Office of Housing and Community Development for more detailed information on the BMR rental and ownership programs.
|Household Size||Income range to qualify for rental unit||Income range to qualify for ownership unit|
|1||$44,400 - $88,750||$64,550 - $104,950|
|2||$50,750 - $101,500||$73,800 - $119,950|
|3||$57,050 - $114,150||$83,000 - $134,900|
|4||$63,400 - $126,850||$92,250 - $149,900|
Note: Above figures are approximate, based on data available as of July 2017. Income qualification will be determined by MOHCD.
How much will the affordable units in HOME-SF projects be sold or rented for?
Units will be priced according to size (number of bedrooms) and the income level of the household that will be occupying the unit.
Below is a sample table of potential rents and sales prices for affordable units in HOME-SF projects. Please see the Mayor's Office of Housing and Community Development for more detailed information on the BMR rental and ownership programs.
|Unit Size||Range of rents||Range of prices|
|Studio||$1,100 - $2,200||$233,800 - $434,500|
|1 BR||$1,200 - $2,500||$237,250 - $496,600|
|2 BR||$1,350 - $2,850||$308,600 - $558,500|
|3 BR||$1,500 - $3,150||$346,050 - $620,600|
Note: Above figures are approximate, based on data available as of July 2017. Rents and sales prices will be determined by MOHCD.