Affordable Housing Policies
Definition
These are government policies aimed at ensuring that low- and middle-income individuals and families can afford decent housing. They may involve subsidies, rent control measures, or incentives for developers to build affordable units.
Analogy
Imagine going shopping with a limited budget but everything is too expensive. Affordable housing policies are like discounts or coupons that make it possible for you to buy what you need within your budget.
Related terms
Section 8 Housing Choice Voucher Program: A federal assistance program helping low-income families afford housing in the private market.
Rent Control Laws: Laws that limit how much landlords can increase rent each year.
Inclusionary Zoning (IZ): A policy requiring a certain percentage of new construction to be affordable for people with low to moderate incomes.
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