Click Interest List to be notified of all affordable housing opportunities in Pleasanton.

 

Pleasanton is located in an area where the cost of rental housing has traditionally been high, similar to other Bay Area locations. The city does not build, own, or manage any rental housing directly. 

Below-Market Rental Housing (BMR)

The City encourages the construction of affordable rental housing by allowing special consideration for projects that provide rental apartment units at below-market rent levels. Nearly 1,000 below-market rental (BMR) apartment units have been built in Pleasanton since the mid-1980's. See current apartments at below-market rents. The leasing process (inquiries, applications, etc.) is administered on-site at each complex. Since 2012, the City has approved several new apartment developments with approximately 1,750 total units. These new complexes include nearly 350 additional BMR apartment units.

Tri-Valley Affordable Rental Housing Opportunities Guide

 

Market-Rate Apartments

Pleasanton has a large stock of high-quality rental housing in existing apartment complexes located throughout the city. While many existing complexes do not offer BMR rents, home seekers may be able to find market-rate rental housing that meets their needs, particularly in older complexes where rents tend to be lower.

Rental Costs

• Rents for BMR apartments are based on a percentage of the Area Median Income (AMI) for the Alameda – Contra Costa County area as determined annually by the federal government.
• The maximum BMR rents for most participating properties are based on 80% of the AMI. Several properties offer lower rents based on 60% and 50% of the AMI.   
Actual rents charged under the BMR program may be less than the maximum amounts shown in the table. As shown in the most recent survey of rates in Pleasanton apartments, rents charged for BMR apartment units typically average twenty to thirty percent less than market rents in the same complex although the degree of difference varies over time depending upon the state of market rents.  Maximum rates may vary by complex.

Qualifying

In order to qualify to rent a BMR apartment, applicant’s income must generally not exceed 80% of the local median income level (several complexes also have apartments for households at 50% and 60% of median income).

The current maximum annual incomes (by household size) and corresponding maximum rents (by unit size) can be found here . Maximum income and rent levels are adjusted annually based on new information from the federal government.

Leasing is handled directly by the property manager for each apartment complex.       

Future Developments

 It generally takes one to two years to build a large apartment complex, and the application process for BMR apartments does not start until a complex is close to completion. Click Interest list to be notified of the City's future affordable housing opportunities or contact the City of Pleasanton Housing Division , (925) 931-5011  200 Old Bernal Avenue, Pleasanton, CA 94566.