To put it simply, affordable housing is housing that a household can pay for, while still having money left over for other necessities like food, transportation, and health care. That means what’s considered “affordable” depends on a household’s income.
In more formal language, affordable housing is a dwelling that a family or household can obtain – whether through rent, purchase, or other means – that costs 30% or less of the household’s income. This metric looks at the cost of residing in the dwelling, including utilities. Affordable housing takes many forms in a community, including workforce housing (allows for firefighters, teachers, police, etc. to live in the communities they serve), opportunity housing; equitable housing, Section 8, Section 42, Accessory Dwelling Units, rent controlled units, and more.
The impact of affordable housing in Eden Prairie goes beyond how it affects those who are looking for housing they can afford. It also impacts the broader quality of life issues such as the economic development of the region, traffic congestion, commute times, and air quality. In short, it affects us all. Effectively solving the affordable housing crisis does not mean addressing the needs of just the poor; it also means addressing the needs of the business community, working- and middle-class families, and the broader population.urney.
Eden Prairie Housing Alliance 