What Does "Affordable Housing" Actually Mean?

Affordable housing may bring up images of public housing "projects", but more often "affordable housing" refers to rental units that are part of a privately-owned apartment building or multi-family and the monthly rent is set in relation to the area median income. This makes an "affordable" unit in a high-income community (like Wellesley, MA, for example) rent for $2,908 per month, which isn't what many people in less affluent communities would consider affordable.

For more detailed information about how affordability is calculated and defined, please check out our recent blog post here: https://dalyappraisal.com/what-does-affordable-housing-actually-mean/