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The extent to which there are enough rental units at different costs in an area to meet the housing needs of each renter household, paying 30 percent of their income for rent.
Affordable Housing is housing that is affordable to people with a household income at or below the median. According to the US Department of Housing and Urban Development (HUD), Affordable Housing is commonly described as housing on which the resident pays no more than 30% of gross income for housing expenditures, including utilities.
Section 8 vouchers and project-based rental assistance receive annual rent adjustments from HUD. HUD adjusts rent levels on the basis of Consumer Price Index data on changes in residential rent and utility costs around the country. HUD publishes the Annual Adjustment Factors annually in the Federal Register.