So you wanna snag an ARO apartment in Chicago? Here's the lowdown (with less drama than Tinder)
Living in Chicago is like a rom-com: exciting, full of energy, and makes your wallet feel like it just went through a bad break-up. But fear not, lovelorn renter! The Windy City has a secret weapon in its dating arsenal – the Affordable Requirements Ordinance (ARO). It's basically a matchmaking service for you and your dream apartment, but with less awkward silences and way more income verification.
Who is ARO looking for? (Spoiler Alert: Not trust fund babies)
The ARO program is all about making sure Chicago stays charming and affordable, not just a playground for billionaire hedgehogs (no offense, hedgehogs). So, to qualify for an ARO apartment, you gotta be income challenged. We're talking about earning less than a certain percentage of the Area Median Income (AMI). Basically, it's a fancy way of saying you gotta show them your bank account isn't overflowing with Scrooge McDuck money.
The nitty-gritty:
- Rental units: Your income needs to be under 60% of AMI.
- Owner-occupied units: Here it gets a bit more complex. You're generally good to go if you're under 100% of AMI, but there are exceptions depending on the program option. Think of it like choosing difficulty levels on a video game – gotta pick the right challenge for your income bracket.
_Psst... Here's a friend to know: The exact AMI numbers change year to year, but the helpful folks at the Chicago Department of Housing (DOH) have all the up-to-date info. They're basically the wingman of the ARO program, holding your metaphorical hand through the whole process https://www.chicago.gov/city/en/depts/doh.html.
Okay, I might be their type. Now what? (The glamorous world of paperwork)
Alright, Romeo, so you've caught ARO's eye. Now comes the "getting to know each other" phase, which involves a little paperwork. Gather your documents like permission slips for a school field trip: pay stubs, tax returns, proof you haven't been hoarding any secret gold bullion – the usual suspects.
Be warned: Don't try to slip in that participation trophy from third grade spelling bee. ARO takes income verification seriously, so get ready to show them the real financial you (don't worry, they've seen it all).
So, how long will it take to find the love of my life (aka an ARO apartment)?
Finding an ARO apartment isn't like instant ramen – it takes a little more patience. Availability can vary depending on the neighborhood and type of unit. But hey, at least you'll be saving some serious dough while you wait!
Top Tip: Check out websites like [place to find aro chicago apartments] to see what's on the market. They update their listings regularly, so you can be the first to swipe right (or should we say, apply?) for your dream apartment.
Remember: Finding an ARO apartment might take a little time and effort, but with a little patience and the right info, you could be living in your perfect Chicago pad for a fraction of the price. So put on your best metaphorical outfit (by that we mean all your income documents) and get ready to find your happily ever after (with rent you can actually afford).
