Retooling Affordable Housing Strategies Part 2 of 19
Affordable housing is housing that costs the owner or tenant no more than 30 percent of gross income, according to Trend Dynamics the Department of Housing and Urban Development (HUD). Rent or mortgage payments that exceed this percentage are considered a cost burden to the household because other basic expenses like health care, education and transportation are compromised.
In Texas, the number of families facing a cost burden is growing three times faster than the availability of decent, affordable housing, according to the Texas Low Income Housing Information Service. Rising housing costs have created a housing shortage Forex Trading Machine not only for lower-income groups, but also for middle-income professions such as teachers, nurses, firefighters, police officers and others who cant afford to live in the communities they serve. Maintaining employment does not guarantee that a family can find decent affordable housing.
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