Low Income Housing Authority
Your Guide To Finding Low Income Housing, Apartments, Section 8 and More

Low Income Housing In Cleveland, Ohio

Cleveland Low Income HousingThe Cleveland Housing Network has developed a wide variety of low income housing options for qualifying residents that include project-based and HUD Section 8 Housing rental properties, lease to purchase home ownership programs and homes for sale.

Qualifying residents, including families, the elderly and the disabled, looking for subsidized rental property, for example, are required to pay no more than 30% of their income for rent.  The lease to purchase program, although not subsidized, allows buyers to use their HUD Section 8 vouchers to purchase a home.  They can lease the property for anywhere from 4-15 years and receive a residency credit for each year they occupy the home, up to $10,000.  The residency credit is then treated as a reduction in the purchase price.

Several plans are available for qualifying buyers who wish to buy a home.  Cleveland has six neighborhoods that offer affordable, fully renovated homes meeting national Green Communities energy-efficient standards.  These are called Opportunity Homes and can be viewed at www.opphomes.com where buyers can also complete an online pre-qualification application.  As-is, also called Homeward Homes, can be purchased with only 3% down at below market rates on a 30 year fixed rate first mortgage and a 0% deferred second mortgage up to $20,000, and includes a city tax abatement as well.

Another program is the result of  Bank of America giving away abandoned homes it can't sell.  The bank will hand over 100 homes to a local agency in Cleveland, and plans to offer similar programs in Chicago and Detroit. Other banks and Fannie Mae are considering similar programs.

More information on affordable housing options for Cleveland residents can be located at www.chnnet.com.

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