Maximum Restricted Resale Price (Information for Homeowners)

The City of Hayward (the "City") has adopted an Affordable Housing Ordinance that makes it possible for moderate income households to buy a home at a price that is affordable. Homeowners who purchase units that are part of the City of Hayward Inclusionary Housing Program pay a price that is below market rate as required by the Affordable Housing Ordinance

In exchange for the opportunity to purchase a unit at a below-market affordable price, you are required to sign a Buyer's Occupancy and Resale Restriction Agreement with Option to Purchase (the "Resale Restriction Agreement"). The Resale Restriction Agreement sets forth conditions that you must meet during the term of the agreement. One of those conditions limits the price at which you can sell your home. This limited price is called the Maximum Restricted Resale Price. Please note: some older versions of the Resale Restriction Agreement are titled Affordable Housing Covenant and Restriction on Sale and the Maximum Restricted Resale Price is referred to as the Affordable Housing Cost. 

Below is a summary of how the Maximum Restricted Resale Price is determined by development:

  1. Renaissance Walk. The Maximum Restricted Resale Price shall not exceed the product of thirty-five percent (35%) times one hundred ten percent (110%) of area median income (AMI) adjusted for familly size appropriate for the unit.
  2. Garden Walk. The Maximum Restricted Resale Price is the owner's purchase price increased by the percentage of increase in the Consumer Price Index (CPI) from the date of the original purchase of the home by the owner to the date of receipt by the City of the owner's intent to sell.
  3. Crossings at Eden Shores. The Maximum Restricted Resale Price is the owner's purchase price increased by the percentage of increase in the Consumer Price Index (CPI) from the date of the original purchase of the home by the owner to the date of receipt by the City of the owner's intent to sell.
  4. SoHay. The Maximum Restricted Resale Price is the owner's purchase price increased by the percentage of increase in the Median Income from the date of the original purchase of the home by the owner to the date of receipt by the City of the owner's intent to sell. 

Upward Adjustments

Eligible Capital Improvements

The City of Hayward Inclusionary Housing Program allows certain improvements you make to your home to be captured in your home's Maximum Restricted Resale price and could potentially increase the resale value of your home when you decide to sell. The adjustment to the Maximum Restricted Resale Price for Eligible Capital Improvements is limited to the cost minus the depreciation value of the Eligible Capital Improvement. 

To learn more about the eligibility criteria, please visit the Eligible Capital Improvements page. 

Original Closing Cost

If applicable, in the event the difference between the Maximum Restricted Resale Price and the owner's original purchase price of your home is less than the amount of closing costs that you paid at the initial closing of the sale of the home, the Maximum Restricted Resale price shall be adjustd upward in an amount equal to the difference between the (i) Maximum Restricted Resale Price and (ii) the sum of your original purchase price plus your original closing costs. The Maximum Restricted Resale Price will not be adjusted upward if any Downward Adjustment is required in the event you have failed to maintain the home in good repair or you are otherwise in default under or in violation of the terms of the Resale Restriction Agreement. 

Downward Adjustments

If applicable, the Maximum Restricted Resale Price shall include a downward adjustment in an amount necessary:

  • To repair any violations of applicable building, plumbing, electric, fire or housing codes or any other provisions of the City of Hayward Building Code; and
  • To make repairs on the home to put the home into a sellable condition 

Requesting a Quote

  • Estimate. If you would like an estimate of the current Maximum Restricted Resale Price for your home, e-mail doris.tang@hayward-ca.gov and request a quote. Please note that any quote provided to you is only an estimate and subject to change. The final Maximum Restricted Resale Price is calculated at time of sale.
  • Resale. If you are selling your below-market rate unit, have your real estate professionals e-mail doris.tang@hayward-ca.gov

Questions About the Maximum Restricted Resale Price

For general questions, please e-mail doris.tang@hayward-ca.gov.