Because all of US are in this together, DHC has created 63 affordable rental units in Davidson—so far.
The federal government defines an “affordable dwelling” as one that a household can obtain for 30 percent or less of its income. To preserve economic diversity and the strength of our neighborhoods in Davidson, housing to support a variety of income levels is crucial.
Beautiful rentals are available at The Bungalows (32 units) and Creekside Corner with one-, two-, and three-bedroom units (21 units).
On Mock Circle, we have four one-bedroom units that give preference to veterans. And on Jetton Road, we have The Cottages, which are two duplexes that have four one-bedroom units, designed for disabled adults.
We have application requirements for everyone who wishes to become a DHC renter. We conform to guidelines obtained by the U.S. Department of Housing and Urban Development. We are monitored by the NC Housing Finance Agency and must do the following:
- Calculate to ensure applicant is income qualified
- Verify all assets of applicant
- Run background and credit screenings using third party vendor
- Verify all rental history
DHC serves individuals and families who earn 80% or less of AMI or $67,350 for a family of four. Most of the residents in our rental homes earn less than 50% AMI or $42,100 for a family of four.
Our financial counseling, homebuyer education, and job search assistance are available free of charge to anyone, regardless of income.
The majority of our renters are employed locally, such as, Davidson College, North Harbor Club, Carrburritos, Brickhouse Tavern, and the construction industry. Some receive disability and some are retired. All people residing in our rental units pay rents established by HUD, based on incomes that are no more than 80% AMI. Our waiting list for rentals averages 70 people.
We work with families who have lifelong ties to our community and with newcomers searching for a place to put down roots. In our efforts to address client needs, we also look for opportunities, to put the clients’ unique talents and perspectives to work for our organization, positioning current and former clients to serve as community mentors, board members, and staff.
Affordable For US
The supply of local affordable rentals is a common limitation on families’ abilities to emerge from housing insecurity and become more financially self-sufficient. As an innovative strategy to expand the number of rental units that are affordable for people earning less than 80% of area median income (AMI) in our community, DHC is exploring opportunities to fund a new local rental subsidy initiative — Affordable for US.
DHC’s certified staff will provide financial counseling and ensure that rents borne by participating residents are adjusted annually so that they pay no more than 30% of their monthly income on housing. Landlords will receive reasonable market rate rents, with DHC paying the difference between what the renter can afford and the going rental rate.
With generous grants and donations, our ability to match rental properties with deserving households can expand beyond those rental properties that are actually owned by DHC. To learn more about Affordable for US, email email@example.com. If you would like to contribute to our work, visit www.davidsonhousing.org/donate