Below Market Rate (BMR)

Updated 2 months ago ​by Alex Wolff

What it is:

The City and County of San Francisco offers an inclusionary housing initiative to designate certain properties for lower to middle income first-time homebuyers at “Below Market Rate” (BMR) prices. 

What it’s good for: 

The program was created to increase the availability of affordable housing for lower to middle income first-time homebuyers and renters. If you are a first time homebuyer, and you meet the financial requirements of the program, you could qualify to purchase a property for less than the current market value, allowing you to buy more house than you would traditionally be able to afford.

What to know:

-Purchasing a BMR property will require that you register with the Mayor’s Office of Housing and Community Development (MOHCD) and meet certain financial requirements.

-In addition to registering and being approved, there is a lottery process which will ultimately determine 

-More detailed information regarding the program and qualification process can be obtained from the official MOHCD Program Page