What is “Affordable Housing” to you? Is it houses priced under $150,000 – or $300,000 – or $500,000 – or anything under $1,000,000? Is there a commonly accepted definition of “Affordable Housing”? What if we were to switch the words to be “Housing Affordability”? I found this “stab” at a definition on the HUD site from the EDGE on-line magazine. Defining Housing Affordability (Hit this link for the full article) ” Housing programs in the United States have long measured housing affordability in terms of percentage of income. In the 1940s, the maximum affordable rent for federally subsidized housing was set at 20 percent of income, which rose to 25 percent of income in 1969 and 30 percent of income in 1981. Over time, the 30 percent threshold also became the standard for owner-occupied h...
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