Wednesday, November 23, 2011

Finding Affordable Housing in the Bay Area

As I'm sure you are well aware, the housing costs in the Bay Area are out of control. There is affordable housing available, you just need to know where to look and also have some patience.

The first thing you need to know is that most apartment complexes don't advertise the fact that they have BMR (Below Market Rate) units available. If you want to find one, you need to be prepared to do your research. Often times you will call and find out that the complex offers BMRs, but that they have a waiting list to get into one. If you get nothing else from this blog, please at least listen to this: Regardless of the length of the waiting list (a lot of times they will tell you two to three years), GET ON IT!

When a unit becomes available, they will start going down the waiting list. Even if you are #100 on the list, by the time they have eliminated people ahead of you either because they can't get a hold of them on the phone number they have on file, their situations have changed and they are no longer eligible, they have since found a living arrangement that they are satisfied with... Whatever the reason, you could be a lot closer to the top of the list a lot sooner than you think.

The other reason you should always get on the waiting list regardless of the length is because even if you aren't bumped to the top of the list, and you do end up waiting two years to be called about a vacancy, the chances that your situation might be similar to what it is now is kind of likely. Think about it, unless you have a Master Degree right around the corner that is going to start earning you a six figure salary, or you are positive that you have a large inheritance coming your way, the likelihood that you will still be in the market for affordable housing two years from now is pretty high... Just keepin' it real.

When I was six weeks pregnant with my younger son I started getting my name on BMR waiting lists anywhere where they would let me. All of them had about a two year wait list estimation. I received probably about five calls from different complexes over the next two and a half years, and a couple came within two or three months of getting on the waiting list.

On the other hand, one call from a complex came right at about the two year mark, and at that point my situation was much worse than when I had initially placed our names on the waiting list. A little patience scored me a 1200 square foot 3 bedroom 2 bathroom apartment in one of Santa Clara's nicest communities for $1210 a month. The regular rent on the same size units was $2895. So all I'm saying is have a little patience.

If you are looking for a place now, below are a few of the resources that I use when I am in the market for a new living space:

San Jose Affordable Housing
San Jose (Cont'd)
Sunnyvale Affordable Housing
Mountain View Affordable Housing
Santa Clara Affordable Housing
Santa Clara (Cont'd)
Morgan Hill Affordable Housing
Palo Alto Affordable Housing
Santa Clara County Housing Search
Santa Clara County Housing Search (Cont'd)

Another suggestion you might want to try which sometimes results in finding hidden gems, is to flip through an Apartment Guide (free in Safeway, 7-11, etc.), find an apartment complex that you really like and just call and ask if they offer any BMR units... You never know, and since they don't advertise the units you might be looking at a much shorter waiting list.

Let me know how your search goes and good luck to all of you!

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