What does the term "affordable housing" entail?

The term "affordable housing" specifically refers to housing that is priced in a way that is accessible to individuals and families with low to moderate incomes. This concept is grounded in ensuring that housing costs do not consume an undue portion of a household's income, allowing residents to allocate their financial resources to other essential needs such as food, healthcare, and education.

Affordable housing can take various forms, including rental units, single-family homes, and even cooperative housing models. It is a crucial aspect of urban planning and policy, aiming to create diverse and inclusive communities where people of various income levels can live and thrive. Understanding this definition emphasizes the societal goal of reducing housing insecurity and promoting equal opportunities for all citizens, highlighting the importance of affordability in housing access.