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Definition
Affordable housing refers to the provision of housing and shelter as a basic human right, including housing for the homeless and for those of low income. Affordable housing occurs only in nations that can support such projects or in locales that have substantial foreign aid. Affordable housing is a range of both subsidized and nonsubsidized housing designed for those whose low or moderate incomes make them unable to purchase or rent housing on the open market. The provision of affordable housing-where the homeowner or renter spends no more than 30 percent of their gross income on housing including utilities-reduces the financial burden of housing costs and provides opportunities for people to move out of poverty.
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Tags/Keywords
Affordable housing, low-income, economic, community, development, housing conditions, environmental health, available housing, homelessness, social justice, access to housing, standard of living, equity, policy, access to financing, shelter, human right to housing, slums, favelas, barrios, housing rights, compensation for evacuation, landlord, right to adequate housing
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