Affordable Housing
Definition
Housing units that are affordable to households with income below the median household income, typically costing no more than 30% of household income. Affordable housing encompasses various approaches including public housing, subsidized units, and inclusionary development requirements. It plays a crucial role in maintaining social equity and economic diversity in communities.
Purpose
Ensure access to quality housing for low and moderate-income households while promoting social integration and community stability.
Examples of Use
- Developing subsidized housing projects and programs.
- Implementing inclusionary zoning policies and requirements.
- Creating housing assistance and support programs.
- Establishing rent control and stabilization measures.
- Promoting mixed-income development approaches.
Related Terms
- Housing Affordability
- Mixed-Income Housing
- Social Housing
- Housing Policy
- Economic Inclusion
Notes
Affordable housing is crucial for maintaining diverse, equitable communities and supporting economic stability and social integration.
