Income limits and eligibility
For all affordable housing described on this website, eligibility is primarily based on household income. CHAD uses the Area Median Income (“AMI”) standard, as established annually by the US Department of Housing & Urban Development (HUD) to set eligibility requirements for its rental housing options. You must be willing to provide household income information to the property manager. Different types of affordable housing (apartments, single family homes) will have different income limits for different size units (1 bedroom, 2 bedroom etc.), and your household income cannot exceed those limits.
AREA MEDIAN INCOME
Area Median Income (“AMI”) is the midpoint income for the Chicago area. It is determined by the US Department of Housing and Urban Development (“HUD”) and means that half of the people in the Chicago area earn more than the median and half of the people earn less. CHAD uses these levels to set income limits for affordable housing eligibility
HUD bases its income limits for a variety of housing programs on a standard called Area Median Income (AMI) for each metropolitan statistical area. The base AMI is estimated to be for an average family of 4 persons. The maximum income by family size is then adjusted by a percentage determined by HUD.
| # of Persons | 1 | 2 | 3 | 4 | 5 | 6 |
| Income Adjustment | 70% | 80% | 90% | 100% | 108% | 116% |
AMI is published annually by HUD for every county and metropolitan area in the USA. It is the most common benchmark to determine eligibility for federal housing programs. DuPage, Kane, Will and Cook, Lake and McHenry counties are part of the Chicago-Joliet-Naperville HUD Metro Area.
The 2014 AMI for the Chicago-Joliet-Naperville HUD Metro FMR Area, which includes DuPage, Kane, Will and Cook counties, is $72,400 for a family of 4 persons.
2014 Income Limits Adjusted By Household Size
| 1Person | 2Person | 3Person | 4Person | 5Person | 6Person | |
| Area Median Income (AMI) | $50,700 | $57,900 | $65,160 | $72,400 | $78,200 | $84,000 |
INCOME LIMITS: RESTRICTED PROPERTIES
A large portion of CHAD’s housing inventory (approx. 75%) has been purchased and rehabbed through various federal grants with requirements to rent them to low income households that are within certain income levels. Those levels are determined by the US Department of Housing and Urban Development (HUD) and are income restricted to families and individuals who earn less than 80% of AMI. However, in some cases, a particular property may be further restricted to lower income households earning less than 60% of AMI. Applicants are advised to consult with a CHAD property manager regarding income eligibility restrictions for specific properties.
2014 Income Limits Adjusted By Household Size
| 1Person | 2Person | 3Person | 4Person | 5Person | 6Person | |
|
80% of AMI Low Income |
$40,550 | $46,530 | $52,150 | $57,900 | $62,550 | $67,200 |
| 60% of AMI | $30,420 | $34,800 | $39,120 | $43,440 | $46,920 | $50,400 |
|
50% of AMI Very Low Income |
$25,305 | $29,000 | $32,600 | $36,200 | $39,100 | $42,000 |
|
30% of AMI Extremely Low Income |
$15,200 | $17,400 | $19,550 | $21,700 | $23,450 | $25,200 |
INCOME LIMITS: UNRESTRICTED PROPERTIES
Unrestricted properties are available to both moderate and low income individuals and families who earn less than 120% of AMI. These properties have not been acquired and/or rehabbed with any federal grant assistance and do not have any rent restrictions place on them. Unrestricted properties account for approximately 25% of CHAD’s housing inventory. Applicants are advised to consult with a CHAD property manager regarding income eligibility restrictions for specific properties.
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