KNOWLEDGE
WORTH HAVING

Affordable housing is housing, whether rented or owned, for which the household pays no more than 30% of their gross income for housing costs (rent/mortgage), including utilities.

The area median income (AMI) is the midpoint of a geographical area's income distribution, meaning half of households in that area have an income that is more than the area median income and half have an income that is less.

Affordable housing trust funds are distinct funds established by city, county, or state governments which receive ongoing dedicated public funds to support the preservation and production of affordable housing to increase opportunities for families and individuals to access safe, healthy and sustainable affordable housing.

A household is "cost-burdened when they pay more than 30% of their household income for housing (rent or mortgage and utilities).

A household is "severely cost-burdened" when they pay 50% or more of their household income for housing (rent or mortgage and utilities) alone.