What exactly is affordable housing? Here are all the definitions you need to know
“Housing designated as ‘affordable’ — a phrase commonly tossed around when discussing the state’s housing crisis — is set aside for those who meet specific income eligibility requirements, typically those that earn below 80% of the metropolitan area’s median income. In Quincy, that is $85,266 for a family of four.
In between the affordable and market rate categories falls workforce housing, meant to be affordable for households that don’t make enough to pay for market rate housing, but that earn too much to qualify for affordable housing. Individuals and families who qualify for workforce housing make between 60% and 120% of the area median income – or between $63,950 and $127,900 per year for a family of four in Quincy.”