California’s housing crisis has made it very difficult to buy a home, but one rare opportunity has opened up giving a few lucky families the chance to buy 3- to 4-bedroom homes at prices far below the local median of $1 million.

The Bay Area city of Walnut Creek has a homeownership program that will offer three homes to households with at least three to four people that meet “very low” to “low” income requirements — all for prices ranging from just $262,750 to $377,000.

In contrast, the average home in Walnut Creek is valued at over $992,000, according to Zillow, which is more than three times the below-market price.

Each of the homes has a value estimated at $1.2 million to $1.5 million, KTVU reported, making it a sweet deal.

One of the properties has been revealed as a 2,466-square-feet two-story, four-bedroom home within Shea Homes’ Abigail Place development. It has 3.5 bathrooms and a landscaped backyard.

According to the listing, the $262,750 home is in close proximity to public transportation and Highway 680, schools, nearby parks and trails, and local attractions such as Walnut Creek’s year-round farmers market.

The two other below-market homes will be available to applicants and will be part of a separate lottery. They will be priced in the mid-$300,000s, KTVU reported.

According to the city’s website, the future homes may be in Esperanza Place, offering 1 to 4 bedrooms, solar powered capabilities, parking with electric vehicle access, and close proximity to public transportation.

The homeownership program is run by the nonprofit Bay Area Affordable Homeownership Alliance. Mechanics Bank will provide additional down payment assistance subsidies and a loan subsidy to qualified buyers.

To qualify, one must be a first-time homebuyer with no ownership in the past three year. There are income requirements, with a family of four that should not make over $81,400 per year. The other two homes have slightly higher income maximums, such as $135,740 for a family of four.

Credit scores, debt and other finanicial qualifications will also be checked.

One must enter a lottery by the end of this month, and a virtual informational workshop will be held on Oct. 21.

There will be strings attached once the home is owned, such as a prohibition on renting the place out and pre-approval from the city of any future home sale.