Affordable Housing For Rent
We recognize the challenge of finding affordably priced housing opportunities. The purpose of this site is to serve as a resource to the community, providing information on affordable housing for rent located within our city.
The complexes listed on this website maintain a certain percentage of rental units at affordable rates for occupancy by low-income families. The site provides a locator map and contact information for each rental complex. Contact each complex directly for up to date vacancy and rental information.
Multifamily Housing Projects In Elk Grove
Homebuyer Assistance Program
The City is pleased to offer the Homebuyer Assistance Program! This program provides silent second, deferred-payment loans to first-time homebuyers meeting certain income and eligibility requirements.
Affordable Homeownership Program
The City has about 25 units of deed-restricted for-sale housing under the Affordable Homeownership Program. Owners of the units must be very low, low, or moderate-income at the time of purchase. When owners decide to sell the units, they must sell them to other very low, low, or moderate-income buyers at a price set by the City.
Buyers must obtain their own financing. The City does not provide a loan for the purchase of the property.
For Developers
The City of Elk Grove aims to create housing opportunities affordable to all residents by offering assistance to residential developers through the Affordable Housing Loan Program. As a progressive community, Elk Grove has realized the need for creating housing units that are affordable to individuals and families of various income levels, and utilizes this program to achieve this end.
The Affordable Housing Loan Program provides financial assistance to experienced residential developers interested in building properties that are affordable to persons at very low- and low-income levels. The program is supported by the accumulation of residential and non-residential development impact fees paid by project developers at building permit issuance.
The overall purpose behind the Affordable Housing Loan Program is to provide developers who are unable to secure all financing from non-City resources with the financial support needed for development of projects. Program goals include establishing high quality, well-designed, and energy-efficient affordable housing.
As of early 2014, the City has financed twelve new affordable apartment projects in areas throughout the city. When the balance of the Affordable Housing Fund is sufficient to support a new project (generally $5 million), the City releases a Request for Proposals. Interested developers may submit one or more proposals, and the City Council may ultimately select one or more projects to receive low-interest, long-term loans as supplemental project financing. Information on eligible projects and submitting a proposal will be included in the Request for Proposals.
Contact
| Housing | |
|---|---|
Housing Division |
Email, (916) 478-2254 or fax (916) 627-4800 |