The region’s housing crisis shows no signs of abating, and few people are more aware of the problem than Liz Ogden, executive director of the Contoocook Valley Housing Trust.
“We’ve been around for 35 years, but not everyone knows about us,” Ogden said. “We’d really like to get the word out there more. Our mission is so vital, and there are so many more people who need help than we are able to serve.”
The Trust provides low-income housing for qualified residents of the Monadnock region. The organization owns and manages 57 housing units spread across Hillsborough, Antrim, Bennington and Peterborough.
Ogden says the Trust is always looking to expand to new towns.
“Right now, we have about 50 people on our waiting list,” she said. “And that is just the people who are willing to go on the list. Most people who call us, when they find out how long the wait is, just give up because they need something right away.”
According to Ogden, the Trust housing units have very low turnover because so few options are available for low-income people.
“In the beginning, we were getting housing through foreclosures; we were able to obtain properties at low prices, below market value and fix them up. But the real estate market in this region was very different in 1990. It is now much harder to find someone willing to donate a property, or to find one below market rate.”
The Trust’s first donor, in 1991, was the town of Peterborough, which donated $25,000 to hire the first executive director.
In 1992, legislation allowed the NH Community Development Finance Authority to accept property donations from banks that owned foreclosed properties and were willing to sell them to nonprofits developing affordable housing at reduced prices.
“With the help of the CDFA’s affordable housing program, we started to focus on
acquiring enough rental properties so we could generate a sufficient cash flow to be sustainable,” Ogden said.
The Trust’s first acquisition was the Shadow Lane Apartments in Peterborough, which were converted to 12 affordable units. Volunteers from the Lions Club renovated a basement space, adding a two-bedroom apartment.
Ogden said the Trust is always looking for properties.
“We are finding it difficult to afford the multi-family properties for sale at a price that enables us to keep their rents affordable,” Ogden said.
The Trust’s most recent acquisition was a house next to the Union Congregational Church in Peterborough.
“This home was already being used for low-income housing and the church wanted to make sure it stayed that way,” she said.
Ogden said the Trust would like to expand to Jaffrey, Greenville, Hancock and Temple.
“If anyone hears of a property that might be a possibility, please let us know,” Ogden said.
Recently, Ogden said, a homeowner in Antrim contacted the CVHT before tearing down his home.
“He invited us in, and he donated everything that we wanted from the house,” Ogden said. “We took cabinets, appliances, doors, window, toilets, sinks, fans—we took everything we could, and we will use those things in our properties. We got furnaces, a well tank. It is all things we can use in our units and which we don’t have purchase now, and we are so grateful. That was huge for us.”
CVHT complies with federal Housing and Urban Development guidelines for low-income housing, which defines low income as below 80% of the area median income for the region.
In Cheshire County, the median family income is $106,200, with low-income for one person $61,900. In Manchester, the median family income is $122,800, with a low-income threshold of $68,800 for one person.
Ogden says rents at CVHT units range from $725 for a one-bedroom apartment to $1,260 for a four-bedroom.
“On the open market, I have seen a two-bedroom in this area for $2,000 a month,” Ogden said. “We charge half what others charge.”
The Trust also has a home ownership program to loan qualified buyers up to $10,000 for a down payment on a home.
“There are a lot of people in the situation where they have the monthly income to afford a home but they just can’t manage that down payment, and we have helped a lot of people in that situation, including some of our tenants,” she said. “It’s a great program but a lot of people don’t know about it.”
So far, the Trust has made loans to 12 people or families and no one has defaulted.
At their December monthly meeting, CVHT welcomed two new board members, Nicholas Mason, an attorney from Shaheen & Gordon, and Arthur Pope, a retired Peterborough resident.
Ogden says the Trust is always looking for new board members.
“We would love to find at least two more board members to join in 2026. We are looking to bring on someone with construction experience and someone with IT experience, though we would also accept candidates from other fields,” Ogden said.
Last year, the CVHT began sponsoring a community supper in Antrim, with board members providing and serving the meal.
“Our board is really wonderful, just trying to get our name out there,” Ogden said. “Housing is at the root of so many issues, and we are helping as many people as we can, but there is so much more that needs to be done.”
For information about CVHT, visit housingtrust.org./