Below Market Rate Program

Welch Road Apartments Building Exterior

Below Market Rate Program

The Below Market Rate (BMR) Program is a local affordable housing program designed to assist low income households.

This program began at Welch Road Apartments in 1987, with 11 of our 108 apartments deemed as Below Market Rate apartments. Welch Road Apartments partners with Alta Housing, an independent non-profit agency that has worked with Santa Clara and San Mateo Counties for over 40 years, to certify applicants/residents.

Rent Restrictions: Per Santa Clara County, the maximum rent for BMR rental units is published between February and May of each year, depending on when the State of California posts updated income figures. Maximum Allowable Rent shall not exceed a price affordable to lower income and moderate income households, based on a housing cost of 30% of the monthly gross household income for the apartment's assumed household size.

New and Renewing Leases: must not exceed the published Maximum Allowable Rents in the current year. BMR apartments may be charged the following additional fees and utilities in addition to the rents: Water, Sewer, Storage, Pet and Parking. The additional charges and fees must be clearly stated in the Lease Agreement and all non-BMR apartments must be required to pay the same additional charges.

Income Restrictions: Per Santa Clara County income limits requirements, the prospective resident's combined household income and assets shall not exceed the maximum limit for a low- and median- income households. Maximum income limits for low income are based on 80% of the area media income (AMI). Median Income is determined and published annually between February and May by the California Housing Community Development Department (HDC), depending on when the State of California posts updated income figures.

BMR Eligibility

Eligibility is subject to affiliation with Stanford University.

Welch Road Apartments Courtyard View
Welch Road Apartments View of Building Patio

BMR Interest List

Welch Road Apartments BMR Interest List Status.