Who can afford a house?

Housing affordability varies from state to state, generally New Yorkers spend 50.6% of median income for housing mortgage. Median Family Income is determined by the middle number of collected income from all the families in the state. The government calculates affordable housing plans using medium family income (MFI). High income families generally would generally be differed from the afford housing, since they would be able to generate enough money to afford housing. While low income families would have aid when in finding or purchasing a new home.  

Public housing was made for low income families to have affordable housing; it is where the federal government pays the landlord to maintain and help decide which families qualify to live in it. In order for a family to qualify, they have to make 80% or less of the MFI to be qualified. Once qualified the family is only expected to pay 30% of their income to rent; thousands of people apply for public housing. A guide developed by the center of Urban Pedagogy states that the waitlist is around 8 years and in New York about 400,000 people live in public housing; making that 1 in every 20 people. Tenant based vouchers helps exceptionally low income families live in affordable homes. The qualification is an income limit between 50-80% of MFI. Based off the guide of Urban Pedagogy, New York City gets the most vouchers out of the entire country and is almost impossible to get in the list for it.

Living in New York City alone makes up about 50.6% to 68% of median family income depending on where you live, that’s making it half of what you earn. As housing being created, property tax sky rockets thus increases rent or affordability to live in the home.



Envisioning development, Guide No. 1, What is Affordable Housing? NYC edition.

Affordable Housing, Assignment 4-8, ,

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