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OctoberRust13 t1_iz1blxa wrote

in 2022, what does "Affordable" mean to you guys?

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I'd say:

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Studio: $800/mo

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1BR: $1000/mo

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2BR: $1300/mo

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3BR: $1500/mo

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cowperthwaite OP t1_iz1d3sr wrote

It's tied to being house burdened (30% of income on rent) at 60% AMI, although utilities factor into it too.

Here's a spreadsheet that breaks down wage/hour, /month, /year, and what 30% is per year/month.

Second tab has what 60% AMI is, what 30% is/month.

https://docs.google.com/spreadsheets/u/1/d/e/2PACX-1vSAxhyYgTcgNhHApstmGzLvA5R6fSf5F66ui7Qz4edkmDTzFGfH8pe1DcncsttT7s6rULinFWFFf4HQ/pubhtml

AMI table:

https://www.documentcloud.org/documents/22060608-fy-22-hud-income-limits#document/p1/a2115177

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aKnowing t1_iz1kx6v wrote

I’d say that’s adorable if those prices include any utilities. I’d consider those fair prices for sure but affordable should range 1-200 less up to the prices you suggest

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412gage t1_iz3cu44 wrote

It depends. I'm from PA and work in affordable housing. Sometimes the developer will foot the entire utility bill but, most of the time it's the tenant paying into what's called a utility allowance which is a fixed amount.

The total of the tenant-paid rent and utility allowance has to fall under HUD's limits on the specific rents in a certain area.

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Educational_Leg36 t1_iz1zk2h wrote

Cut that all by half

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Jmac3366 t1_iz3jf1q wrote

Not the 90s anymore lol can’t get an apt for 400$ in providence

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Educational_Leg36 t1_iz3jkot wrote

Yes but the question was "what's affordable to you guys?"

Don't know why I'm getting down voted when that's what I can afford lol

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Tortankum t1_iz2adg6 wrote

A couple working minimum wage jobs makes 4k a month and the 2br is prettt much exactly 1/3. Seems reasonable.

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