08-30-2016, 11:05 AM
Yes, 30% of $2K/month would work out to $600/month (whether with or without utilities). In the example they have, 30% of $36K/year equates to $900/month, and gets her (and her daughter) a 700 sq ft one-bedroom apartment.
Our median family income is about $85K, so at a 60% threshold the cutoff would be $51K. I don't know whether this is the right cutoff -- if we have a very limited supply, then we should start with a lower cutoff -- so that we can first help those most in need -- and then later raise the cutoff point as we grow the affordable-housing stock.
HfH is great, but as far as I understand, they focus on single-family housing, and it's very hard to scale that up to the point of being able to produce substantial affordable housing stock. And new single-family construction also tends not to be so walking- or transit-accessible.
Our median family income is about $85K, so at a 60% threshold the cutoff would be $51K. I don't know whether this is the right cutoff -- if we have a very limited supply, then we should start with a lower cutoff -- so that we can first help those most in need -- and then later raise the cutoff point as we grow the affordable-housing stock.
HfH is great, but as far as I understand, they focus on single-family housing, and it's very hard to scale that up to the point of being able to produce substantial affordable housing stock. And new single-family construction also tends not to be so walking- or transit-accessible.