Housing Programs
Fair Market Rentals
CHAD rents its units to households whose incomes are at or below 80% of Area Median Income. CHAD’s rent rate is based on Fair Market Rent, as established by HUD, a competitive rate with other housing rental rates. HUD establishes Fair Market Rent on the cost of modest, non-luxury rental units in a specific market area.

Housing Choice Voucher / Section 8 Rentals
CHAD accepts Housing Choice Vouchers (formerly called Section 8) at all of its properties. The Housing Choice Voucher program is the federal government’s chief rental assistance/subsidy program. It provides rental assistance/subsidies to income-eligible residents and is administered by the DuPage Housing Authority. Annually, CHAD rents approximately 30% of its units through Housing Choice vouchers.

Sliding Scale Subsidy Rentals -- Income Based
Since 1986, CHAD’s Sliding Scale Program has provided long-term rental assistance/subsidy for 40-50 renters each year, an average of $137,000 annually in rental subsidies. Qualified tenants are asked to pay 30-40% of their income for the rental unit; CHAD will subsidize the remaining portion. CHAD’s program is the only DuPage County source for long-term income-based rental assistance to the general public. We fund this program from Fair Market rentals, and from grants and donations.

Homeownership
“You may be able to buy a home of your own for less than the cost of you rent!”

CHAD initiated the Just Homes Program in 2003 by purchasing six single-family homes with a combination of funding from HUD and DuPage County, and from a private foundation and other private financing. The Just Homes Program is an equity sharing program that gives moderate-income people the opportunity to purchase their own home in DuPage County for 60% of fair market value. They own only the home.

A qualified buyer must be a first-time homebuyer, and meet gross income levels based on family size. Maximum gross income may not exceed 80% of the Median Family Income for DuPage County. Twenty-nine (29) families have become homeowners through Just Homes. As an example, CHAD could buy a house for $250,000, including the house and land. CHAD would sell it to a qualified buyer for 60% of the value, or $150,000. CHAD would retain the other 40%. The homeowner owns the house, deducts interest from their income taxes, and leases the land. When the owner chooses to sell, CHAD buys back the house for 60% of the current appraised value of the house. If the home appreciated to $300,000, CHAD buys it back for 60%, or $180,000, and the seller realizes a profit of $30,000.

Do you qualify?
You must be a first-time home buyer with a household of 4 or more, and must have a yearly suggested income of at least $37,000/year but not to exceed 80% of Median Family Income of DuPage County, see below