Housing Cooperatives


Housing cooperatives are democratically controlled corporations established to provide housing for members. Each household owns a share in the corporation, which entitles the member to occupy a housing unit. Typically, the cooperative receives finance through a blanket mortgage that covers the entire property, and members pay monthly carrying charges to cover mortgage payments and operating expenses.


Housing cooperatives address the identified needs of members. The cooperative model is for single-family homes, apartments, and any housing construction. In this respect, housing cooperatives can include upscale developments for the relatively wealthy housing needs and products based on homeownership for those who cannot afford a home at market price.

Limited Equity Housing Cooperatives

offer affordable homeownership opportunities for low and moderate-income households. Members fund the development of these types of cooperatives with a combination of private and public funds. Share prices in these cooperatives are usually low, and member households may not own more than one share. To further preserve affordability and prevent speculative resale, the coop puts price restrictions on the sale of shares.

Market-Rate Housing Cooperatives operate in the private market. In these cooperatives, sometimes referred to as stock cooperatives, individual cooperatives arrange private financing of share purchases. The share sells at its total market value when a member moves out. Cooperative members establish Bylaws that may restrict occupancy to homeowners or put restrictions on the rental of units.

Manufactured Home Park Cooperatives provide members with price control and a voice in the park’s operation, policies, and maintenance. Manufactured homes are private, while the cooperative owns the land underneath the house and all other facilities. Members co-own the park and have the right to occupy a space for their homes. Manufactured home park cooperatives can be both market rate or establish limited equity limits to maintain affordability.

Senior Housing Cooperatives meet the needs of members who meet established age restrictions. Units accommodate potential life changes that can accompany age. Communities may incorporate community rooms, fitness centers, swimming pools, and parks – the gambit of options offered at any age-restricted development. They may also include various degrees of graduated care. The advantage of the cooperative model is that it allows members to own their unit, and it incorporates democratic decision-making, ensuring that seniors have a voice in all aspects of community living.