Walnut Creek offers below-market homes for low-income families

The city of Walnut Creek, California, has launched a homeownership program offering three 3- to 4-bedroom homes at prices significantly below the local median. These properties are priced between $262,750 and $377,000, whereas the average home value in the Bay Area city exceeds $992,000. The estimated market value for each of these homes is between $1.2 million and $1.5 million.

To qualify, households must consist of at least three to four people and meet “very low” to “low” income requirements. One revealed property is a 2,466-square-foot, four-bedroom home located in the Abigail Place development by Shea Homes. The remaining two homes will be distributed via a separate lottery and may be located in the Esperanza Place affordable housing community, which features solar power capabilities and electric vehicle access.