Deferred second loan
City of San Luis Obispo BMR Homeownership Program
First-time homebuyers · New construction · Income limits · Single-family (1-4 unit), FHA-approved condominium, townhome/PUD
Down payment assistance · San Luis Obispo County
Buying a home in San Luis Obispo, CA
1 San Luis Obispo program, 2 county programs and 54 statewide.San Luis Obispo has 1 program of its own, 2 more across San Luis Obispo County, and 54 statewide. Here is what each one offers, what the local market looks like, and who near you can walk you through it.
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Only for San Luis Obispo addresses
San Luis Obispo’s own program
Anywhere in San Luis ObispoAnywhere in San Luis Obispo County
2 county programs2 county programs a San Luis Obispo homebuyer can also use
The San Luis Obispo marketThe San Luis Obispo housing market
Kinds of homes hereWhat’s for sale here, and what the programs accept
Kinds of homes in San Luis Obispo
- 46.1% single-familysingle-family
- 9.5% townhousetownhouse
- 14% 2–4 units2–4 units
- 24.9% 5+ unitscondo & apartment buildings (5+ units)
- 5.5% mobile & othermobile home & other
Condos count. All 3 of San Luis Obispo’s local and county programs accept condos.
U.S. Census Bureau, American Community Survey 2024 5-year (2020–2024). Table B25024.
When San Luis Obispo’s homes were built
pre-19401970s2020+
57.2%
of San Luis Obispo homes were built before 1980. Pre-1978 homes come with a federal lead-paint disclosure.of homes were built before 1980. A home built before 1978 comes with a federal lead-paint disclosure, and some programs require an inspection.
U.S. Census Bureau, American Community Survey 2024 5-year (2020–2024). Table B25034.
$129,600
County area median income, 4 people (HUD)HUD area median income, San Luis Obispo County, 4-person household (2026)
$73,685
San Luis Obispo median household incomeMedian household income in San Luis Obispo (Census, 2024)
52 of the 119 programs here set their income limit as a share of San Luis Obispo County’s area median income, adjusted for household size. See the published limits for San Luis Obispo County
Free help nearbyFree help near San Luis Obispo
Free help from a HUD-approved housing counselorFree help from a HUD-approved housing counselor
3 programs here ask for a homebuyer class first. Create a free account to see who’s near you and pick one.All 3 local programs here ask for a homebuyer class. A HUD-approved counselor teaches it and can walk you through your options. Create a free account to see who’s near you and pick one.
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Across California and nationwide
116 statewide & federal programs54 statewide programs, plus federal options
San Luis Obispo questions
Does San Luis Obispo have its own down payment program?
Yes, one: City of San Luis Obispo BMR Homeownership Program, a deferred second loan for first-time homebuyers (new construction, income limits). It is for homes inside San Luis Obispo.
Can I use assistance on a condo in San Luis Obispo?
All 3 of San Luis Obispo’s local and county programs accept condos. Each program’s page lists the kinds of homes it accepts, and the agency confirms it for the home you choose.
What is the income limit in San Luis Obispo County?
Each program sets its own. 52 of the programs here set theirs as a share of HUD’s area median income for San Luis Obispo County, adjusted for household size. HUD publishes the median each year; the 2026 figure is shown above and on the published limits page.
Where can I take a homebuyer class near San Luis Obispo?
HUD-approved housing counseling agencies teach homebuyer classes. Create a free account and take the 90-second match to see the ones near you.
ZIP codes
93401 · 93403 · 93405 · 93406 · 93407 · 93408 · 93409 · 93410
Nearby in San Luis Obispo
Sources
Sources: agency sites (June–August 2026), Census ACS 2024 5-year, HUD FY2026, HUD counseling list. Hey Prescott is not a lender.Programs: Hey Prescott catalog of 2,000+ programs, each verified with its agency (June–August 2026). Market: U.S. Census Bureau, American Community Survey 2024 5-year (2020–2024). Income: HUD FY2026 income limits. Counselors: HUD list of approved housing counseling agencies. Hey Prescott is not a lender.