Housing Co-ops: Learn the basics

Florida-CEED workshops and classes will lead you through the steps to transitioning your
dwelling to a co-op model. Here as some basics about housing co-ops that we cover in depth.

Limited Equity Housing Co-ops 

A limited equity housing cooperative is a residential development owned and managed by residents that they democratically govern and own through their nonprofit cooperative corporation. LEHCs limit the amount of equity a member can earn upon resale of their unit (and membership share) in order to preserve the cooperative’s affordability for future generations.

Resident Owned Communities (ROC)

An estimated 18 million people who earn less than $28,000 a year (less than half the national household median income) live in manufactured housing. That makes it one of the leading sources of affordable housing in the U.S.  Approximately 1,000 manufactured housing communities are ROCs.

Market Rate Housing

Units are bought and sold at market value, similar to the way single family homes and condominiums are valued. In practice, a market rate or equity co-op is operated in a manner similar to a condominium. The major difference is that, as in all co-ops, residents do not own a specific piece of property, but instead own a share of the cooperative corporation that owns the building.