Purchase Opportunities: Walnut Creek Affordable Homeownership Program

The City of Walnut Creek has current and upcoming new below-market-rate (BMR) homeownership opportunities over the next three to four months. The City’s BMR program helps very low to moderate income qualifying households achieve homeownership by offering homes at prices well below market value.

The City of Walnut Creek contracts the Bay Area Affordable Home Ownership Alliance (BAAHA), a 5010c3 non-profit organization, to administer the sale of the available and upcoming BMRs.

BAAHA partners with a regional bank to provide financing for the BMRs. BAAHA’s lending partner has access to an additional $70,000 in homebuyer purchase subsidies for eligible lowincome first time homebuyers. These subsidies further expand affordability of BMR homebuyers.

Homebuyers can access BMR homes either through new housing developments or when existing BMR owners sell their units. Walnut Creek’s current existing and upcoming BMR inventory is directed towards very low to low income first time homebuyer households. Currently there is a spacious premium two level 1,000-square-foot one-bedroom BMR condo available in Walnut Creek for $248,114. Recent market data indicates that a similar non BMR home would sell for over $500,000 on the open market. Interested households must apply to enter into a lottery to purchase this home. To be eligible for this BMR home, the first-time homebuyer’s household size cannot exceed the low-income threshold for three people.

Further details about the property and BMR buyer program requirements can be found online HERE.

California legislation allows developers to build more homes than normally permitted if they set aside a specific percentage of BMR homes for low to moderate-income residents. Walnut Creek has three newly constructed three-and four-bedroom homes anticipated to become available for public purchase in the next 60 to 120 days. These homes which have market values of approximately $1,500,000 will be available to eligible households at prices ranging from $340,000 to $380,000. A minimum household size requirement of three to four people will be required to apply for these BMRs. More information regarding the homes and the lottery application process will become available on BAAHA’s website sometime in July 2026.

To keep up with additional information regarding the upcoming City of Walnut Creek Below Market home purchase opportunities be sure to visit BAAHA’s website.