What percentage of a household’s income should be spent on housing?

Status Quo

Pricing and income limits are set so that 30% of income is spent on housing.

Alternatives

5.A. The status quo.

5.B. Includes 5.A plus include a minimum debt to income ratio

5.C. Includes 5.A, except remove debt to income ratio limit.

5.D. Includes 5.A, except increase the percentage of gross income a household may use toward housing costs.

5.E. Some combination of B, C, and D.

Solution

Thirty precent of a household’s income should be spent on housing (Alternative 5.A).

Show All Answers

1. What should the employment criteria be to rent or purchase a restricted home?
2. What kind of assets should be allowed and / or counted, and how much is the limit?
3. How many months out of a calendar year should a household be required to occupy a restricted unit?
4. What livability standards, if any, should apply to restricted units?
5. What percentage of a household’s income should be spent on housing?
6. When should a household have to qualify for a rental or ownership home?
7. How should sale/rent price be set?
8. How should restricted ownership homes be valued at resale?
9. How should rental be handled for ownership units?
10. How should the buy / sell process work?
11. What types of relief should be allowed from the Rules and Regulations?
12. How should new Rules and Regulations be applied to existing units?