Affordable Housing

What affordable housing options are available at Bozeman CoHousing?

Bozeman CoHousing has two subsidized deed restricted units available for middle income households. 

The two-bedroom home has already been reserved by a household that applied for our lottery in June 2023. We have several other applicants on a waiting list, so we are not accepting additional applications for the two-bedroom home.

The second home, a studio condo is still available. We do have some households in the process of applying, but we are still accepting applications. Applications from now on will be processed on a first come first served priority basis.

What is deed restricted affordable housing?

The initial house price is subsidized to be affordable to buyers that earn approximately 100%-120% of area median income (AMI). The subsidy comes from Bozeman CoHousing LLC, our developer Cadius and the City of Bozeman.

A deed on the home states that when you sell the home, you may set the price at no more than 3% appreciation per year from initial price, plus approved capital improvement costs. It must be sold to a buyer that meets the income restrictions.

The home must be the principal residence for the owner and not used as rental unit.

Minimum of (1) person per bedroom: 2B units are available to a household of 2 or more persons; studio units are available for 1-2 person household.

Qualifications for deed restricted homes:

    Must be a local resident for at least 12 months in one or more of the following counties in Southwest Montana: Gallatin, Park, Meagher, Broadwater, Jefferson, or Madison.
    <120% of AMI for Bozeman
    1 person household: Less than $87,950
    2 person household: Less than $100,500
    Applicants must have less than $150,000 in investments, savings, checking and bonds; inheritances, insurance payments and settlements within 5 years; or other personal property that is readily converted to cash. NOT INCLUDING household effects, IRAs, pension and investment accounts that have a penalty for early withdrawal; balances in retirement and college savings accounts; automobiles for personal use.
    Per City of Bozeman: ”individual who has had no ownership interest in a principal residence during the three-year period ending with the date of purchase; or a single parent whose only prior home was owned with a former spouse while married; or an individual who is a displaced homemaker and has only owned with a spouse; or an individual who has only owned a principal residence not permanently affixed to a permanent foundation in accordance with applicable regulations; or an individual who has only owned a property that was not in compliance with state, local or model building codes and which cannot be brought into compliance for less than the cost of construction of a permanent structure.”
    While higher debt income ratios are sometimes approved by lenders, to ensure that our buyers will not struggle to pay their mortgage, we will not accept mortgages with debt ratios above 45%. Bozeman reserves the right to approve all mortgage financing. Lenders familiar with Bozeman CoHousing include First Security (Rossi Benner,, 406-556-3816) and VIP Mortgage Incorporated (Marcia Volin at, 303-656-4788). While there is no minimum income requirement, households with income over $55,000 are more likely to qualify for a mortgage with the stated house prices.

Are you a fit for Bozeman CoHousing?

Are you interested in being a part of a community in a neighborhood designed for social interactions? Are you interested in living in an energy efficient home and an eco-conscious neighborhood? Are you able to share work that supports the community? We are a multigenerational community that welcomes kids and pets. Homes ready to purchase summer and fall of 2023.

How to apply for the lottery for deed restricted homes:

STEP 1: Learn about Bozeman CoHousing and our Affordable Housing Program

  • Request access to our online webinar videos.


STEP 3: Join the Waitlist

  • Once your application is complete you will be added to the waitlist for the subsidized studio home.
  • You will be contacted to update you on your eligibility and where you are on the waitlist.
  • If you are at the top of the waitlist, you will be contacted and be given about 5 days to provide additional financial information and to decide to become a explorer and move forward with a home purchase.

Bozeman CoHousing Membership

If you become a Bozeman CoHousing Explorer you will be asked to complete membership steps within one month.

  • Provide any additional qualification materials for verification.
  • Pay $100 Explorer Fee
  • Attend site tour or in-person social event
  • Observe a members meeting
  • Attend Explorer orientation
  • Read programs and watch videos in Explorer Checklist

If the HRDC deems you eligible and you have completed your Explorer steps, you can choose to become a Bozeman CoHousing member!

  • Pay $400 membership fee OR have a payment plan within one week of home offer.
  • Make the minimum $2,000 investment or an approved payment plan within one week of notification you have successfully completed the Explorer Process.
  • Once membership fee is paid, will be a voting member of member of Bozeman CoHousing LLC
  • Pay down payment for home (3-5% recommended, but depends on mortgage terms) two months after paying the membership fee or at closing, whichever comes first.


#42 [ studio – 576 square feet ]
Virtual Tour of the Studio

  • $210,210 home price
  • $205 monthly COA fees includes utilities: water, garbage, internet and basic cable ($153 without utilities for mortgage qualification)
  • Upstairs unit with private (west-facing) deck. Standard finishes; includes kitchen appliances. Does not include carport or garage.
  • Shared common house with kitchen and dining, group laundry, terrace, kids space, living space, two guest rooms, community gardens, workshop.

For more information about the studio home, download this fact sheet:

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