Below Market Rate (BMR) FAQs

The Below Market Rate (BMR) Program has developed in response to zoning provisions in effect in most Marin County jurisdictions which require that developers on new residential projects over a certain size sell at least 10% of the units at below-market prices to first-time, moderate-income homebuyers. Called "inclusionary zoning," these ordinances represent an effort by Marin's cities and towns and the County of Marin to increase this region's stock of affordable housing. Marin Housing, acting as coordinator of BMR sales for most local jurisdictions in Marin County, administers the sale of newly constructed units as well as previously-owned units being offered for resale.

There are over 340 properties administered by Marin Housing in the BMR Program.

Very little new housing is currently being built in Marin County, which means that most units available under this program are resales. In a typical year, ten to twenty will be offered. Whenever a unit is offered, applicants who have applied during the year will be considered.

A drawing is held each time a unit becomes available. Priority is given to applicants living or working in Marin County.

Yes. A resale restriction agreement is recorded with each unit, limiting the profit which can be realized through future resale. The purpose is to preserve its affordability for future low-to-moderate-income first-time homebuyers.

The resale price of a unit is based on the original purchase price, plus the LEAST of three calculations: the percentage increase in the "median income" for Marin County; or the percentage increase in the Consumer Price Index for the San Francisco Bay Area; or the fair market value.

Your equity investment usually appreciates over time, but at a slower rate than a market rate investment.

No. The BMR deed restrictions require continuous owner occupancy.