GEO 3611 Lecture Notes - Lecture 22: Median Income, Acura
27 Nov 2017
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Location of housing stock is important to folks on homes. He looks back at a past slide and says how it relates to hud-adjusted area median family income. Hud sets fair market rents (fmr) in certain places across the country. The exclude rents that are a part of a gov program, and ones that are really new (less than two years old). When they take all of the homes that qualify, they then take the 40th percentile. So, they claim that 40% of rental charges are affordable under this fmr program. There is a link there that shows the fmr in america by choosing cities and such. Remember, if you are paying more tha(cid:374) 30% o(cid:374) your household, the(cid:374) you are(cid:374)"t li(cid:448)i(cid:374)g i(cid:374) afforda(cid:271)le housing. There is another example on slide 36 as well. You can use this strategy to figure out your wages and how to use them.
