Glossary
Affordable Housing Terms
Affordable Housing — As defined by the U.S. Department of Housing and Urban Development (HUD), any housing accommodation for which a tenant household pays 30 percent or less of its income for shelter.Area Median Income — The middle or midpoint income for a particular area. The term is used to estimate the "average" income for a particular area.Community Development Block Grant — Title 1 of the Housing and Community Development Act of 1974 replaced eight former categorical grant and loan programs with a system of unified block grants, under which communities of over 50,000 people are entitled to receive funding…
