Limited equity housing cooperatives:: Defining a niche in the low-income housing market

This article examines the concept of limited equity housing cooperatives (LECs) and their potential niche in the housing stock of the United States. The authors discuss problems related to the success of housing cooperatives, as well as policy implications and opportunitics for development of LECs. The research evidence that exists shows that LECs have a strong record of providing high-quality, safe, affordable housing for low- and moderate-income populations. The authors conclude that LECs constitute a valuable, if underused,form of housing ownership with the potential to improve the quality of life for certain low- and moderate-income households and to contribute to the physical and social quality of the larger community.