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The Champaign Housing Authority

Local Payment Standards


Description
– Champaign County has a geographic area of 997 square miles consisting of the urban cities of Champaign and Urbana, the Village of Rantoul and various other small villages and towns. The diversity of HACC’s jurisdiction results in real estate markets that demand rent schedules far beyond those of the HUD published Fair Market Rents.

Utilizing a third-party market research firm, HACC identified that Champaign County has nine (9) Primary Real Estate Sub-Markets. To facilitate administration of Local Payment Standards, HACC identified boundaries for each PRESM that include the entire Village, Town or Township in rural areas of the County and complete census tracts in the urban areas of the County. Using rent analysis data collected by the market research firm, HACC established a unique local payment standard schedule for each of the nine PRESMs. The Local Payment Standards are based on the median market rent by bedroom size within each corresponding PRESM. Each PRESM has two Local Payment Standard Schedules:

  1. Schedule for structures that are single family homes, townhomes, duplexes or condominiums.
  2. Schedule for structures that contain three or more apartment units.

The Local Payment Standard is the “net” rent and is the maximum rent that HACC will approve except at Project Based Properties. On an annual basis, HACC secures an updated market rent study and analysis and reviews the Local Payment Standards. If local market rents have changed (increased or decreased) by more than 5% in a given year, the corresponding payment standard schedule is adjusted accordingly.

Update on Status of Activity – This activity is fully implemented and will be ongoing with no changes or modifications.