Affordable housing in the United States describes sheltering units with well-adjusted housing costs for those living on an average, median income. The phrase usually implies to applied rental or purchaser housing within the financial means of lower-income ranges specific to the demographics of any given area. However, affordable housing does not include those living in social housing owned by government and non-profit organizations. More specifically, the targeted range for housing affordability sets below 30 percent of a household's annual income, including all applicable taxes, utility costs and home owners insurance rates. If the mean income per household breaches the 30 percent mark, then the agreed status becomes labeled as "unaffordable" by most recognizable financial institutions.
U.S. Department of Housing and Urban Development (HUD): Affordable Housing
HUD User Publications Organization: Affordable Housing
Assisted Housing Alert: Section 8 Low-Income Housing
Alliance for Healthy Homes: Crisis in Affordable Housing
WATCH: Community Development Program: Affordable Housing Development
CommonBond Communities: Applying for CommonBond Affordable Housing
National Association of Realtors: A Field Guide to Low-Income Housing
Neighbor to Neighbor Organization: Affordable Housing Program
National Low-Income Housing Coalition: Affordable Housing Placement Program
U.S. Census Bureau: State Median Income Statistics
Alliance for the Betterment of Citizens with Disabilities: Housing Terms and Facts
Technical Assistance Collaborative, Inc.: Affordable Low-Income Housing for Disabled Persons
Homelessness Resource Center: Providing Affordable Low-Income Housing for Those in Need
Over 30 million Americans need housing assistance due to the overall cost burdens exceeding 50 percent of their total gross income, overcrowding with the number of people living inside the home far exceeding its structural capacity, and lack of basic utilities, such as running water and electricity. Statistically, one out of seven families live in severe physical deficient housing. In fact, the housing and stock market revealed in July of 2009 that the Great Recession further widened the gap and income disparity between the average, hard-working Americans and the top 1% of wealthy Americans. Edward N. Wolff suggests that the average American produced a massive 36.1% drop in overall marketable assets while the top 1% of wealthy Americans only lost 11.1%. This income gap disparity ensures that ever-increasing need for affordable housing as the economic crisis worsens.
Habitat for Humanity: Affordable Housing Statistics
University of California, Santa Cruz: Who Rules America? Wealth, Income, and Power
The Levy Institute: Recent Trends in Household Wealth in the United States: Rising Debt and the Middle-Class Squeeze: an Update to 2007 Statistics
University of Kent State: Broadening Ownership of...