You are correct JM, that is how HUD defines it and it is the standard that is used to determine when a developer is eligible for subsidies - the most important part to the developer. That 30%, which was initially used only for rent calculation and only later fell into use for owner occupied property, also hasn’t been adjusted since 1981 and housing costs have far out stripped income since then.
I believe most people would say that affordable housing is housing that people can afford & still have enough money to live. If we are going to build “Affordable Housing” it should truly be affordable not just meet an outdated government standard.
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