Addison Court Housing Cooperative cannot consider candidates who fall outside certain criteria.
Please do not inquire if you do not believe you meet these requirements.Eligible income rates - minimum:
Our current Monthly Carrying Charge (“rent”) is $874 per month.
The cooperative is discussing switching to a tiered MCC system based on income level (similar to most other BMR housing in Berkeley). It is possible that the rent for newly vacant units will be higher than $874 at the time of occupancy or in the months to come. Any changes to the MCC will be within the limits set forth by the city of Berkeley, which caps these units at a Gross Rent of $1,668 (does not include a tenant paid utility allowance which must be subtracted) . These issues are currently being discussed by the ACHC Board, with updates to follow as determinations are made. Please keep this information in mind.We expect a new Member household
to be able to demonstrate an income of at least $50,000/year.
Eligible income rates - minimum and maximum:
We can accept applications from low or moderate income households only. The application will ask for proof of your current year-to-date income and the previous year's tax return.
We have one vacancy at the 50%-60% AMI (Area Median Income) level, household income must be within the following ranges:
Household of 1: $50,000 - $60,000
Household of 2: $57,150 - $68,580
Household of 3: $64,300 - $77,160
We have two vacancies at the 60%-80% AMI level, household income must be within the following ranges:
Household of 1: $60,000 - $74,200
Household of 2: $68,580 - $84,800
Household of 3: $77,160 - $95,400
Income means gross income, not net income.
Note: Households larger than three are not prohibited from applying and eligible income data is available for larger households. However, please keep in mind that, in the Coop’s experience, the units are comfortable for 1, a bit tight for 2, and a squeeze for 3. Applicant households are strongly encouraged to come to the open house to get a feel for the space!Buy-In Cost:
Becoming a member requires buying a share in the cooperative. This is similar to a security deposit and, during the probationary period, is identical to a typical security deposit. If you opt to become a member at the end of the probationary period, your deposit is converted to a share in the ACHC limited equity cooperative. (The Coop will buy your share back from you when you move out.) The current (2023) value and cost of a share is:
Household of 1 - $4,550
Household of 2 - $5,201
Household of 3 - $5,851
Household Size:
Our units are one-bedroom, 520 sq ft apartments. While the City of Berkeley allows larger households, members have found that a household of three is already a very tight squeeze. Please keep this in mind!
Berkeley residency:
We will prioritize candidates who live or work in the City of Berkeley.
