What is Affordable Housing?
Affordable Housing is defined as housing that has a rent or mortgage that does not cost more than 30% of a household's income (this includes insurance and utilities).
What does it look like?
There is no set design or "look" affordable housing sticks to. It come in all shapes and sizes, single-family homes, condos, townhomes, duplexes, apartments, manufactured homes, tiny homes, and more....
Why does it matter?
Shelter, is one of the most fundamental basic human needs. Studies show that affordable housing benefits and attracts a wide, diverse range of residents, and is often ties built of a quality that matches or exceeds market-rate housing (Forbes, 2020). Having affordable housing often provides several economic benefits for communities at the individual level, the household level, the business level, and even the town, and county level. When households are able to secure housing that is affordable to them, they typically have more to spend on other costs of living like nutritious food, medicine, education, and last but not least, their local economy.
Housing quality can have negative health impacts like asthma, falls and injuries, lead-poisoning, and depression and anxiety. Children and older adults are often at higher risk for these health outcomes. Unstable housing or homelessness leads to stress and difficulty learning, which leads to disrupted school attendance, and eventually results in poorer school performance.
For a copy of the Kings Mountain Affordable Housing Location Policy, click here.