What is Affordable Housing?
Affordable housing refers to housing that is considered to be within the financial means of a specific group of people, typically those with low to moderate incomes. The cost of affordable housing is typically set at a level that is below the market rate for similar types of housing in a given area.
What is the goal of Affordable Housing?
The goal of affordable housing is to provide safe and stable housing options to those who may otherwise be unable to afford market-rate housing, helping to reduce homelessness and promote economic stability.
Why is it Important?
Affordable housing can help to promote economic stability and mobility. When people have stable, affordable housing, they are more likely to be able to focus on other areas of their lives, such as education and job training, which can help to increase their long-term economic prospects.
Finally, it can help to create more diverse and inclusive communities. When there is a range of housing options available at different price points, it can help to bring together people from different socio-economic backgrounds, promoting a sense of community and fostering a greater sense of social cohesion.