The Case for Affordable Housing

What is “Affordable Housing”?

“Affordable housing” is housing that is affordable to households with low incomes, meaning that these households pay no more than 30% of their income for housing costs like rent, mortgage, and utilities.
“Low-income” is based on the Area Median Income (“AMI”) of the city or county. Typically, households are considered low-income if they earn no more than 80% of AMI.
- Households earning under 50% of AMI are considered very low-income.
- Households earning under 30% of AMI are considered extremely low-income.

Of the 44.1 million renter households in the U.S., extremely low-income renters account for one quarter, or 11 million households.*

Eliminating the affordable housing shortage will require a long-term partnership with HUD and other federal and state agencies. We are committed to investing in and creating new affordable housing units throughout the U.S.
Increasing the number of affordable housing units and the quality of the product will require public/private partnerships and will result in the following outcomes:

Economic stability – job creation and the stimulation of local economies
Social Inclusion – Diverse communities, where individuals of different backgrounds can live side by side, foster tolerance, understanding, and social cohesion, ultimately creating stronger and more vibrant societies.
Community Development – Investments in affordable housing can revitalize neglected or blighted neighborhoods, improving property values, community infrastructure, and overall quality of life.
Preventing homelessness – Affordable housing is a critical tool in reducing homelessness, which is not only a humanitarian concern but also a social and economic burden. Stable housing provides a foundation for individuals to rebuild their lives.

Affordable housing is not merely a matter of shelter; it is a fundamental building block of strong, inclusive, and prosperous societies

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